Year-to-date returns for first quarter almost equal to estimate
OKLAHOMA CITY — General Revenue Fund collections in September were $545.1 million and came in at $8.2 million, or 1.5 percent, below the monthly estimate. This amount is $40.1 million, or 7.9 percent, above collections in September of 2017.
"The first quarter year-to-date numbers are running essentially flat at 0.7 percent above estimate. Additionally, strong gross revenue performance should not overshadow the fact that the FY 2019 budget was built on these estimates that we are currently matching," stated Northrup. "Simply put, the numbers we are seeing are not currently indicating FY 2019 will produce a windfall."
First month's collections for FY 2019 leave room for improvement
OKLAHOMA CITY — General Revenue Fund collections in July were $449.1 million and came in at $9.6 million, or 2.1 percent, below the monthly estimate. This amount is $37.8 million, or 9.2 percent, above collections in July of 2017.
"Historically, July isn't the strongest month for collections, but we expected to make the estimate," said Office of Management and Enterprise Services Director Denise Northrup. "While I'm not overly concerned by the July receipts, there are still some hurdles that we need to clear before we see numbers that are in line with where we were before the economic downturn."