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Monthly General Revenue Reports Archive

General Revenue Fund collections in September were $554.3 million and came in at $9.2 million, or 1.7%, above collections in September of 2018.

General Revenue Fund collections in August were $451.4 million and came in at $2.8 million, or 0.6%, above the monthly estimate. This amount is $3.2 million, or 0.7%, below collections in August of 2018. 

FY 2020 First Month GR Collections Send Mixed Messages

General Revenue Fund collections in June were $679.4 million and came in at $10.0 million, or 1.5%, below the monthly estimate. This amount is $52.5 million, or 8.4%, above collections in June of 2018. Total collections for the 2019 fiscal year were $6.86 billion and came in at $354.6 million, or 5.5%, above the 2019 fiscal year estimate and $1.0 billion, or 17.2%, above prior year collections.

General Revenue Fund collections in May were $573.9 million and came in at $5.0 million, or 0.9%, above the monthly estimate. This amount is $76.2 million, or 15.3%, above collections in May of 2018. Total collections over 11 months of the fiscal year are $364.6 million, or 6.3%, above the estimate to date and $953.0 million, or 18.2%, above prior year collections.

General Revenue Fund collections in April were $906.1 million and came in at $60.1 million, or 7.1 percent, above the monthly estimate. This amount is $141.8 million, or 18.6 percent, above collections in April of 2018. Total collections over the first 10 months of the fiscal year are $359.6 million, or 6.9 percent, above the estimate to date and $876.9 million, or 18.5 percent, above prior year collections.

OKLAHOMA CITY — General Revenue Fund collections in March were $508.9 million and came in at $31.8 million, or 6.7%, above the monthly estimate. This amount is $103.4 million, or 25.5%, above collections in March of 2018. Total collections over the first nine months of the fiscal year are $299.5 million, or 6.8%, above the estimate to date and $735.1 million, or 18.5%, above prior year collections.

OKLAHOMA CITY — General Revenue Fund collections in February were $385.2 million and came in at $64.0 million, or 19.9 percent, above the monthly estimate. This amount is $91.0 million, or 30.9 percent, above collections in February of 2018. Total collections over the first eight months of the fiscal year are $267.8 million, or 6.8 percent, above the estimate to date and $631.6 million, or 17.7 percent, above prior year collections.

Feb. 12, 2019

Year-to-date collections continue to beat estimate

General Revenue Fund collections in January were $714.5 million and came in at $58.1 million, or 8.8 percent, above the monthly estimate. This amount is $118.5 million, or 19.9 percent, above collections in January of 2018. Total collections over the first seven months of the fiscal year are $203.7 million, or 5.7 percent, above the estimate to date and $540.6 million, or 16.6 percent, above prior year collections.

Jan. 15, 2019

GRF collections up over first half of fiscal year

OKLAHOMA CITY — General Revenue Fund collections in December were $620.6 million and came in at $50.2 million, or 8.8 percent, above the monthly estimate. This amount is $108.0 million, or 21.1 percent, above collections in December of 2017. Total collections over the first six months of the fiscal year are $145.6 million, or 4.9 percent, above the estimate to date and $442.1 million, or 15.8 percent, above prior year collections. 

"It's a good sign we are on the positive side of the estimate this month," said Office of Management and Enterprise Services Acting Director John Budd. "But I think we should be mindful that this month's report does not yet reflect the effects of falling oil prices. The December collections reflect October production when oil was more than $70.00 per barrel." 

Dec. 11, 2018

Lagging oil prices not expected to hit GRF until January

OKLAHOMA CITY — General Revenue Fund collections in November were $502.2 million and came in at $75.0 million, or 17.5 percent, above the monthly estimate. This amount is $111.5 million, or 28.6 percent, above collections in November of 2017, which is mostly due to law changes that took effect this year. Total collections over the first five months of the fiscal year are $95.4 million, or 4.0 percent, above the estimate to date and $314.1 million, or 14.6 percent, above prior year collections. 

"Regarding GPT, the lag between production and collections is usually about two months and the November collections reflect prices from September when West Texas Intermediate Crude Oil (WTI) prices averaged $70 per barrel,"  said Office of Management and Enterprise Services Director Denise Northrup. "So the returns we are looking at for this month aren't reflecting the falling oil prices we are seeing right now."

Nov. 13, 2018

Gross production tax collections still not meeting estimate

OKLAHOMA CITY  General Revenue Fund collections in October were $520.2 million and came in at $10.0 million, or 2.0 percent, above the monthly estimate. This amount is $83.9 million, or 19.2 percent, above collections in October of 2017. Total collections over the first four months of the fiscal year are $20.4 million, or 1 percent, above the estimate to date and $202.6 million, or 11.5%, above prior year collections. 

Oct. 9, 2018 

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." 

Sales tax collections, while well below prior year, are in line with the estimate because of the anticipated transfer to the Oklahoma Department of Transportation per HB 3712, which temporarily redirected allocations totaling $29 million to the State Highway and Construction Maintenance Fund and the Oklahoma Railroad Maintenance Revolving Fund. The temporarily redirected allocations will conclude next month. 

Sept. 11, 2018

Two major reporting categories still missing monthly estimate

OKLAHOMA CITY General Revenue Fund collections in August were $454.6 million and came in at $28.2 million, or 6.6 percent, above the monthly estimate. This amount is $40.9 million, or 9.9 percent, above collections in August of 2017.

Aug. 14, 2018

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."

June collections come in just over 11% above estimate

OKLAHOMA CITY — General Revenue Fund (GRF) collections in June were $626.9 million and came in at $63.7 million, or 11.3 percent, above the monthly estimate. This amount is $79.2 million, or 14.5 percent, above collections in June of 2017. Total collections during the 2018 fiscal year were $5.9 billion which is $381.6 million, or 7 percent, above the estimate and $810 million, or 16.1 percent, over the estimate for 2017.

Total year-to-date collections at 6.5% above estimate

OKLAHOMA CITY — General Revenue Fund collections in May were $497.8 million and came in at $82.3 million, or 19.8 percent, above the monthly estimate. This amount is $109.7 million, or 28.3 percent, above collections in May of 2017. Total collections over the first 11 months of the fiscal year were $5.2 billion which is $317.9 million, or 6.5 percent, above the year-to-date estimate and $730.8 million, or 16.3 percent, over the year-to-date for 2017.

"The last time we exceeded the estimate by a similar amount was August of 2016, and that was due to anomalies in collections, " said Office of Management and Enterprise Services Director Denise Northrup. "Obviously, this is good news and I'm pleased to see a strong showing that can largely be attributed to the state's continued economic recovery."

All reporting categories indicate healthy growth in Oklahoma economy

OKLAHOMA CITY — General Revenue Fund collections in April were $764.3 million and came in at $93.8 million, or 14.0 percent, above the monthly estimate. This amount is $152.5 million, or 24.9 percent, above collections in April of 2017. Total collections over the first 10 months of the fiscal year were $4.7 billion which is $235.6 million, or 5.2 percent, above the year-to-date estimate and $621.0 million, or 15.1 percent, over the year-to-date for 2017.

"April income tax returns certainly drove collections to surpass the estimate, but all reporting categories came in above estimates which is a positive sign," said Office of Management and Enterprise Services Director Denise Northrup. "Looking toward FY 2019 we should be in a better position than we were last year going into FY 2018."

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."

Total income tax collections came in at $44.3 million, and were $19.5 million, or 78.6 percent, above the estimate. The other revenues category had collections of $42.9 million and were $11.4 million, or 20.9 percent, below the estimate mostly due to a transfer of $16.7 million to the Oklahoma Higher Learning Access Program (OHLAP).

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.

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."

Recovery continues to be slow, steady

OKLAHOMA CITY — General Revenue Fund collections in September were $505.1 million and came in flat when compared with the monthly estimate. However, collections to the GRF were $52.4 million, or 11.6 percent, higher than prior year collections for September. 

"I want to continue the drumbeat of urging caution to those who are advocating for optimism when analyzing these revenues. Nothing we are seeing right now indicates that there will be considerably more money for agency appropriations in February," said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger.

Income tax receipts were up 11.1 percent for September, the driving factor being corporate income tax with a 44 percent increase over prior year's collections. 

Corporate income taxes again contribute nothing to GRF

OKLAHOMA CITY — General Revenue Fund (GRF) collections in July were equal to the monthly estimate, while outpacing the prior year collections by 10.7 percent for the first month of the fiscal year.

GRF collections in July totaled $411.4 million, which is equal to the official estimate upon which the fiscal year 2018 appropriated state budget was based and $39.8 million above prior year collections for the month. Collections from gross production taxes were the high performers, but collections from all other major sources lagged.

Rainy Day borrowing repaid; money to be returned to agencies after cuts

OKLAHOMA CITY — With General Revenue Fund collections in June beating the monthly estimate, Fiscal Year 2017 GRF receipts fell $175.9 million, or 3.4 percent, short of the yearly estimate.

To close out the fiscal year, the remaining balance of $229 million due to various funds — including the Rainy Day Fund — was repaid as state law requires after June collections finished more than 3 percent above the monthly estimate. 

In February, Secretary of Finance, Administration and Information Technology Preston L. Doerflinger told the state Board of Equalization that he had to borrow from different funds in order to make monthly agency allotments for general revenue appropriations. 

Money returned to Rainy Day Fund for education ad valorem reimbursement

OKLAHOMA CITY — General Revenue Fund collections in May missed the official monthly estimate by 1.5 percent, providing enough revenue to cover current FY17 allocation needs and avoiding further cuts to agencies as borrowed funds are returned.   

 “While May’s collections were still below the monthly estimate, total collections are now on a more stable footing and, with only one month left in FY 2017, we are clearly on schedule to repay the money we were forced to borrow this fiscal year without further cuts,” said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger.

Uncertainty remains for this and next fiscal year

OKLAHOMA CITY — General Revenue Fund collections in April missed the official monthly estimate by 12.9 percent and were 4.4 percent below the estimate for the fiscal year, leading to more uncertainty regarding deeper reductions to state agencies as the Legislature stalls with budget proposals.

“The uncertainty that one-time revenue sources have left us with make it difficult to build a budget,” said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger.

Borrowing necessary to make monthly agency allocations

OKLAHOMA CITY — General Revenue Fund (GRF) collections in March missed the official monthly estimate by 9 percent and are 2.8 percent below the estimate for the first three quarters of the fiscal year. Total GRF collections of $352.1 million in March will be short of the amount needed to make agency monthly allocations. About $31 million will need to be borrowed from other funds so agencies will receive their allotments.

“We’ve been forced to do this several times this fiscal year to avoid deeper cuts to agencies and keep government operating,” said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger. “We will be looking to April collections and other upcoming months to make up the difference and reconcile the borrowed funds as we are statutorily and constitutionally required to do.”

Number high after change in scholarship fund payment

OKLAHOMA CITY — A change in the payment date for a higher education scholarship fund has caused total General Revenue Fund receipts to appear artificially higher than expected at 8.3 percent above the estimate for February as corporate income tax collections remain unpredictable.

A change in the final $15.4 million payment of personal income tax collections from February to March to fund the Oklahoma’s Promise scholarship fund was made because of cash-flow concerns, said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger.

Fiscal year collections nearly 3% below estimate

OKLAHOMA CITY — General Revenue Fund (GRF) collections in January missed the official monthly estimate by 3.4 percent and were 2.8 percent below the estimate for the first seven months of the fiscal year as sales tax receipts fell below projections and corporate income tax collections continued to show their volatility.

Although gross collections showed a slight improvement in January, as reported earlier this month by the State Treasurer, collections to the GRF still fell below the estimate after rebates, refunds and mandatory apportionments. Despite January historically being a good month for collections, GRF receipts nevertheless fell short this year.

Caution needed as tax collections continue slide

OKLAHOMA CITY — General Revenue Fund (GRF) collections in December missed the official monthly estimate by 12.3 percent and are 2.7 percent below the estimate for the first six months of the fiscal year as most major tax categories lagged behind projections.

“The news is not as good as we might have hoped coming out of the holiday season,” said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger. “This will be a challenging time as we face a nearly $900 million budget hole and a necessity to find more recurring revenue sources. As I’ve said many times, we’re not going to cut our way out of this situation.”

Sales tax collections continue slide; receipts remain below yearly estimate

OKLAHOMA CITY — An unexpectedly high deposit from individual income tax collections pushed November’s General Revenue Fund (GRF) 7.3 percent above the monthly estimate, but with sales tax collections continuing to slide the total receipts for the fiscal year remained below the estimate.

“We’ve been saying for more than a few months now that the sales tax collections are some of the more troubling numbers,” said Secretary of Finance, Administration and Information Technology Preston L. Doerflinger. “Sales tax collections are probably a better gauge of where things stand than the fluctuating income tax receipts.”

Collections fall 1.8 percent below estimate for the year

OKLAHOMA CITY – General Revenue Fund (GRF) collections in October missed the official estimate by 10.8 percent and fell below the estimate for the first four months of the fiscal year as oil prices remain low and sales tax collections continue to slide.

As state government’s main operating fund, the GRF is the key indicator of state government’s fiscal status and the predominant funding source for the annual appropriated state budget. GRF collections are revenues that remain for the appropriated state budget after rebates, refunds and mandatory apportionments. Gross collections, reported by the State Treasurer, are all revenues collected by the state before rebates, refunds and mandatory apportionments.

Previous month’s anomalies corrected as income, sales taxes miss estimate

OKLAHOMA CITY — With personal income tax and other revenue making a correction and sales tax continuing to decline, total General Revenue Fund (GRF) receipts were 12.4 percent below the September estimate.

As state government’s main operating fund, the GRF is the key indicator of state government’s fiscal status and the predominant funding source for the annual appropriated state budget. GRF collections are revenues that remain for the appropriated state budget after rebates, refunds and mandatory apportionments. Gross collections, reported by the State Treasurer, are all revenues collected by the state before rebates, refunds and mandatory apportionments.

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