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.