September 2021 monthly GRF collections above estimate and previous year
OKLAHOMA CITY — General Revenue Fund collections in September totaled $672.2 million, which is $103.9 million, or 18.3%, above the monthly estimate. This is $109.3 million, or 19.4%, above collections in September of 2020. Total GRF collections through the first three months of fiscal year 2022 are $1.8 billion, which is $246.0 million, or 16.1%, above the estimate, and $16.3 million, or 0.9%, below prior year collections for the same period.
“Again we see Oklahoma’s economy proving strength and resilience,” said Oklahoma’s Chief Operating Officer and Office of Management and Enterprise Services Executive Director Steven Harpe. “In addition to low unemployment, the oil and gas industry continues to show signs of strong recovery. I am encouraged by this sustained progress and overall fiscal outlook.”
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, other mandatory apportionments and after sales and use taxes are remitted back to municipalities. In contrast, gross collections, reported by the State Treasurer, are all revenues remitted to the Oklahoma Tax Commission.
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