GRF collections 7.6% above monthly estimate, 6% above YTD estimate
OKLAHOMA CITY – General Revenue Fund collections in October totaled $708.1 million, which is $49.8 million, or 7.6%, above the monthly estimate. This is $7.2 million, or 1%, below collections in October 2022. Total GRF collections for the first four months of fiscal year 2024 are $2.7 billion, which is $153 million, or 6%, above the estimate and $188.9 million, or 6.6%, below prior year collections for the same period.
“The October results continued the trend we saw during the first quarter of the fiscal year with collections outperforming estimates," said State Chief Operating Officer and OMES Executive Director John Suter. "I am pleased that our state’s progress remains steadily on track in spite of tempered energy prices and the inflation experienced by all Oklahomans.”
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.