Ponca City, OK

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Oklahoma revenue rising but state finances still recovering

The Associated Press - February 14, 2018 3:41 pm

OKLAHOMA CITY (AP) – State finance officials say collections by Oklahoma’s largest operating fund so far this fiscal year are almost 13 percent higher than the same period last year.

But Denise Northrup, director of the Office of Management and Enterprise Services, said Wednesday the state’s coffers have not fully recovered from a prolonged slump in energy prices.

Collections by the general revenue fund during the first seven months of the fiscal year that began July 1 were $3.3 billion, which is $369 million or 12.7 percent over the same period in the previous year.

Last month, collections totaled $596 million, almost $91 million or 18 percent above January 2017.

In spite of the good financial news, Northrup says the current year’s budget has still not been fully funded with only four months left.

 

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