Oklahoma revenue collections continue to climb
BY BARBARA HOBEROCK World Capitol Bureau
Tuesday, November 13, 2012
11/13/12 at 4:04 PM
OKLAHOMA CITY — General revenue fund collections climbed sharply in October, Secretary of Finance Preston Doerflinger said Tuesday.
October collections were $439 million, an increase of 7.6 percent from the prior year.
“We had a healthy growth rate the previous month, but we more than doubled that rate in October, and we also beat the official estimate by nearly 10 percent,” Doerflinger said.
He said the figures are evidence the state’s economy is still on an upward swing. All major tax categories of the General Revenue Fund showed increases in October from the same month in 2011, except for gross production on taxes on natural gas.
“The growth in October revenue shows that Oklahoma’s economy remains among the nations strongest,” said Gov. Mary Fallin. “The potential remains, however, for economic turmoil at the national level if the president and Congress cannot reach a compromise to avoid the so-called fiscal cliff."
Read more in Wednesday's Tulsa World.