Tulsa World
by: BARBARA HOBEROCK World Capitol Bureau
Friday, June 03, 2011
OKLAHOMA CITY - Oklahoma's revenue collections for 12 months ending in May topped $10 billion for the first time since August 2009, state Treasurer Ken Miller said Thursday.
"We are seeing a continuation of positive economic news for the state of Oklahoma," he said. "We have certainly made great strides in the last year, and we are seeing improving health in virtually every economic sector that we have."
Miller said it is an indication that there will not be a double-dip recession for the state, and he called the $10 billion a milestone.
"Our gross collections have passed the $10 billion mark on the 12-month scale for the first time in over two years," he said. "That is certainly encouraging for us."
Revenue collections peaked in December 2008 with a 12-month total of nearly $11.3 billion. Totals dropped sharply during the next 13 months, bottoming out in February 2010 at nearly $9.4 billion. Each month since, collections have increased at a slightly accelerating pace.
"Our revenues fell sharply once the Great Recession took hold," Miller said. "Now, 15 months into the expansion phase of the business cycle, we are seeing continued signs of steady recovery." FULL ARTICLE
Posted on
Fri, June 3, 2011
by John Cox