Oklahoma finance officials say collections to the main operating fund used to pay for state government continue to trail the official estimate, a trend that could lead to budget cuts for state agencies if it continues.
Oklahoma's Secretary of Finance Preston Doerflinger released figures on Wednesday that show collections to the state's general revenue fund trail by nearly 8 percent the official estimate upon which the state budget is based. So far for the first five months of the current fiscal year, collections have trailed the official estimate by about 6.5 percent.
State Treasurer Ken Miller says overall collections for June were down compared to the same month last year, but that as the fiscal year ended Sunday, collections outpaced 2012.
Gross receipts for the month of June were about $976 million, a decrease of about 1.9 percent from June 2012.
“While our monthly numbers are down slightly, the broader picture of annual collections indicate moderate expansion of Oklahoma’s economy,” Miller says. “Broad indictors show there is still reason to be optimistic about our state’s financial course.”