Tax Collections Up, But Miss Estimate
State revenue collections show Oklahoma’s economy continues to recover from the deepest recession since World War II, but growth is slow, State Treasurer Scott Meacham said today as he released reports for collections in November.
“We are in much better shape than this time last year when collections were falling for an 11th consecutive month and budgets were being slashed across-the-board,” Meacham said. “But we continue to see evidence the state’s economic recovery still has a ways to go.”
Preliminary reports show General Revenue Fund collections in November were $345.9 million. That amount is $29.5 million or 9.3 percent above the prior year; but, $9.7 million or 2.7 percent below the estimate.
Fiscal year-to-date collections total $1.91 billion. That is $113.7 million or 6.3 percent above the prior year and $49.3 million or 2.7 percent above the estimate.