General Fund revenues below projections
Ponca City Now - May 13, 2015 7:24 am
OKLAHOMA CITY (AP) – Gov. Mary Fallin’s secretary of finance says collections by the state’s main operating fund last month came in 11.4 percent below projections.
Preston Doerflinger said Tuesday that declining receipts by the general revenue fund in April sent yearly collections below the official estimate upon which the state budget is based.
Doerflinger says this may mark the beginning of a temporary revenue downturn that officials have been expecting and require state agencies to tighten their budgets.
Collections last month totaled $673 million, about $87 million below estimate and $17 million below April 2014 collections.
General revenue fund collections for the first 10 months of the fiscal year that began July 1 totaled $4.8 billion. That’s $4.5 million below estimates, but about $200 million more than at the same time last year.