Finance Official Warns of Possible 'Flat Budgets'
OKLAHOMA CITY (AP) — The state's top finance official is warning state agency directors to prepare for potentially flat budgets next year after a report that collections to the state's General Revenue Fund this quarter are trailing those from the same three months last year.
Oklahoma's Secretary of Finance Preston Doerflinger has released figures showing collections to the fund for the first three months of the fiscal year were down more than 4 percent compared to the same quarter last year. Collections also were down 6.6 percent in September compared to the same month in the previous year.
Doerflinger says while there still is time for collections to pick up, he warned agency directors to "keep their belts tight."
Collections from all four major tax categories were reported below the official first-quarter estimate.