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State tax revenue report is best in more than a year

State tax revenue report is best in more than a year

Tulsa World
By RANDY KREHBIEL World Staff Writer
Published: 6/16/20102:23 AM
Last Modified: 6/16/20106:57 AM

— A surge in gross-production taxes collected in May carried Oklahoma to its best monthly revenue report in more than a year, the state Treasurer's Office said Tuesday.

General revenue fund collections in May totaled $378.7 million, or 6 percent more than in the same month a year ago and 7.8 percent greater than projections.

"As we look back at collections throughout the fiscal year, it is becoming more apparent that our recovery started in February and that trend continues this month," Treasurer Scott Meacham said.

He said the state actually will have a surplus of $6.7 million for the month after allocations are made.

"The outlook is good as collections in June should exceed spending requirements and the remaining funds will be used to seed the cash flow reserve fund for use next fiscal year," Meacham said.

The fiscal year ends June 30... FULL ARTICLE


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