Meacham: It Was Not A Good Year
Revenue collections for Fiscal Year 2010 showed the biggest decrease in state history, State Treasurer Scott Meacham said today as reports on collections for the year were released.
However, Meacham said the news is not all bad. “While the global recession hit Oklahoma very hard during the recently completed fiscal year, all signs point toward better times ahead.”
Preliminary reports show General Revenue Fund collections for Fiscal Year 2010 were $4.6 billion. That amount is $945 million or 17 percent below the prior year, and $815.7 million or 15.1 percent below the official estimate.