August Collections for Oklahoma's Main Fund Exceed Estimate
OKLAHOMA CITY (AP) — Collections to Oklahoma’s main government operating fund exceeded the estimate last month by about 1%, state finance officials reported Tuesday.
Office of Management and Enterprise Services Director Steven Harpe attributed the higher-than-expected collections to a couple of anomalies, including the timing of corporate income tax payments.
“These anomalies should not be expected to continue in other months, especially after federal assistance payments are fulfilled and deferred tax payments are received,” Harpe said.
Collections to the state’s General Revenue Fund totaled $438.4 million in August, which was about $4 million, or 0.9%, above the estimate. August collections still trailed those from August 2019 by nearly 3%.
The General Revenue Fund is the primary funding source for the annual appropriated state budget.