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Press Releases

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."

Aug. 9, 2018

OKLAHOMA CITY — The Office of Management and Enterprise Services (OMES) approved premium rates for health, dental, life, disability and vision insurance products to be offered to state, education and many local government employees, retirees and dependents for 2019.

The rates were recommended by the Oklahoma Employees Insurance and Benefits Board and approved by OMES Director Denise Northrup.

Aug. 9, 2018

OKLAHOMA CITY — The Office of Management and Enterprise Services (OMES) approved premium rates for health, dental, life, disability and vision insurance products to be offered to state, education and many local government employees, retirees and dependents for 2019.

The rates were recommended by the Oklahoma Employees Insurance and Benefits Board and approved by OMES Director Denise Northrup.

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.

July 31, 2018

OKLAHOMA CITY - The Office of Management and Enterprise Services has released a report on the calculations of averted costs to the State of Oklahoma from the implementation of State Question 781 which was passed by the state's citizens in November of 2016, along with State Question 780, more commonly known as the "Oklahoma Smart Justice Reform Act."

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