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State revenue improves by $308.6M

State revenue improves by $308.6M

Journal Record
By Tim Talley
Associated Press
Posted: 08:29 PM Monday, June 21, 2010

– Oklahoma will have $308.6 million more than expected available in revenue in the coming fiscal year, a state board projected – a sign Gov. Brad Henry cited Monday as showing that Oklahoma is slowly pulling out of the national economic slump.

The state Board of Equalization, which is comprised of Henry and other statewide elected and appointed officials, certified that money from the general revenue fund and other sources will total more than $4.97 billion during the fiscal year that begins July 1.

That’s a 6.6-percent increase over the board’s February estimate of $4.66 billion.

Henry said the increase indicates the state’s economy is slowly improving following more than a year of declining revenue – the result of the poor economy and low energy prices.

“We’re very cautiously optimistic,” Henry said.

Ninety-five percent of the increase in revenue, or $293.2 million, will be available for appropriation to state agencies, state Finance Director Mike Clingman said... FULL ARTICLE


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