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State's general revenue for September up from a year ago but just short of projections

State's general revenue for September up from a year ago but just short of projections

Tulsa World
By Randy Krehbiel
Updated Oct 10, 2018  

OKLAHOMA CITY — September general revenue allocations failed to meet projections despite coming in nearly 8 percent higher than for the same month a year ago, the Office of Management and Enterprise Services said Tuesday.

General revenue for the month was $545 million, or 1.5 percent less than expected. The largest revenue source, income tax, accounted for just over half the total and was 8.2 percent above projections and 14.6 percent above the same month in 2017.

The No. 2 revenue source, sales and use taxes, were off 23.1 percent from last year, largely because of $29 million sent to the State Highway and Construction Maintenance Fund and Oklahoma Railroad Maintenance Revolving Fund to replace funds borrowed earlier from those accounts.

Gross production taxes, which account for a far smaller share of general revenue, totaled $31.8 million, which was 6.8 percent below the estimate but 42.7 percent above the prior year... FULL ARTICLE

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