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Economic recovery continues at slow, steady pace

OKLAHOMA CITY — General Revenue Fund collections in March were $405.5 million and came in at $21.4 million, or 5.6 percent, above the monthly estimate. This amount is $53.5 million, or 15.2 percent, above collections in March of 2017. Total collections over the first nine months of the fiscal year were $4.0 billion which is $141.8 million, or 3.7 percent, above the year-to-date estimate and $468.5 million, or 13.4 percent, over the year-to-date for 2017.

"I'm encouraged to see strong returns in March after coming up short in February," said Office of Management and Enterprise Services Director Denise Northrup. "With motor vehicle and gross production collections continuing to fall below year-to-date estimates, it is still time to be cautious."

Total year-to-date estimate slightly above at 3.5%

OKLAHOMA CITY — General Revenue Fund collections in February were $294.2 million and came in at $2.0 million, or 0.7 percent, below the monthly estimate. This amount is $46.2 million, or 18.6 percent, above collections in February of 2017. Total collections over the first eight months of the fiscal year were $3.6 billion which is $120.4 million, or 3.5 percent, above the year-to-date estimate and $415.0 million, or 13.2 percent, over the year-to-date for 2017.

"February collections are historically our lowest collection month, and as predicted, we came up short this month," said Office of Management and Enterprise Services Director Denise Northrup. "As we look forward to the remainder of the fiscal year, slow and steady progress should be expected."

First seven months of fiscal year only 3.9 percent above estimate

OKLAHOMA CITY — General Revenue Fund collections in January were $596 million and came in at $47.2 million, or 8.6 percent, above the monthly estimate. This amount is $90.8 million, or 18.0 percent, above collections in January of 2017. 

Total collections over the first seven months of the fiscal year were $3.3 billion which is $122 million, or 3.9 percent, above the year-to-date estimate and $369 million, or 12.7 percent, over the year-to-date for 2017.

"It is a good sign that we have been surpassing the estimate consistently for the past few months, but I'm not ready to declare that the state has totally recovered from the energy downturn," said Office of Management and Enterprise Services Director Denise Northrup. "I know others have been significantly more celebratory about recent returns, but we have a long way to make up from the multi-year downturns to show we are back on track."

Year-to-date shows small increase of only 2.9%

OKLAHOMA CITY — General Revenue Fund collections in December were $512.6 million and came in at $36.6 million, or 7.7 percent, above the monthly estimate. This amount is $93.1 million, or 22.2 percent above collections in December of 2016. Total collections over the first six months of the fiscal year were $2.7 billion which is $75.2 million, or 2.9 percent, above the year-to-date estimate and $278.1 million, or 11.6 percent, over the year-to-date for 2016.

The Office of Management and Enterprise Services has released the 2017 Comprehensive Annual Financial Report for the fiscal year ended June 30, 2017.

The CAFR is a yearly issuance published by OMES and reviewed by the Oklahoma State Auditor and Inspector. The CAFR is required by state law and is the primary means of reporting the state government's financial activities. It maintains reporting information for all agencies, funds and component units included in the state reporting entity, and prepares the annual schedule of expenditures of federal awards.

OKLAHOMA CITY – The Incentive Evaluation Commission has submitted and posted its final report on 12 state economic tax incentives reviewed this year.

As required under the state’s Incentive Evaluation Act, the report was submitted today to Gov. Mary Fallin, Senate President Pro Tempore Mike Schulz and House Speaker Charles McCall. The report was posted today on the Oklahoma Department of Commerce website, documents.ok.gov and on the commission’s website.

OKLAHOMA CITY, Dec. 14, 2017 — My goal since the beginning of the discovery of fiscal mismanagement at the Oklahoma State Department of Health (OSDH) mirrors that of the legislative investigative committee. That goal is to find out exactly what happened, how it happened and how to prevent it going forward. My testimony indicated that the minute the severity of this problem became apparent, my team and the governor took swift action to help rectify the situation.

The testimony given today was about assigning blame and political theater. If Auditor Jones did not feel my response to his initial conversation on Sept. 1 was adequate, then why did he not go directly to the OSDH Board – the governing body of the agency? Or to the governor, or to the legislative leadership who had the authority to appropriate money to help the agency make payroll?

Year-to-date comes in slightly above estimate at 1.8%

OKLAHOMA CITY — General Revenue Fund collections in November were $390.6 million and came in at $28.7 million, or 7.9 percent, above the monthly estimate. This amount is $48.2 million, or 14.1 percent above collections in November of 2016. Total collections over the first five months of the fiscal year were $2.2 billion which is $38.6 million, or 1.8 percent, above the year-to-date estimate and $185 million, or 9.4 percent, over the year-to-date for 2016.

No indication current trend to yield significant growth in next fiscal year

OKLAHOMA CITY — General Revenue Fund collections in October were $436.4 million and came $2.5 million, 0.6 percent, above the monthly estimate. Coincidentally, the year-to-date estimate also came in above by 0.6 percent. There was improvement in nearly every category from last year, as expected. 

"A revenue failure does not seem to be in the forecast, but neither does a healthy surplus, so maintaining FY 18 levels of funding to core services will require continued discussion, cooperation and effort," said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger. "If the Legislature desires a different path forward, I urge them to begin putting those plans together now so they can be discussed during the next regular session."

Oklahoma City, Nov. 1, 2017 — Secretary of Finance, Administration and Information Technology Preston Doerflinger issued this statement responding to Legislature's plans to fund state agencies:

"Perpetuating the theory that providing a small amount of funding to help agencies with the promise we can come back during regular session blatantly disregards the balanced budget requirement set in our constitution.

"I am firmly of the opinion that the constitution requires Oklahoma to maintain a balanced budget, thereby not allowing the Legislature to “float” agencies until the Legislature returns. If appropriated funding is insufficient to maintain service levels provided in agencies’ original FY 2018 budgets, then reducing service levels is the only option left for those agencies. 

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