FY 2025 GRF collections exceed prior year levels, generally in line with estimate at two-month mark

OKLAHOMA CITY – General Revenue Fund collections in August totaled $603 million, which is $14.3 million, or 2.3%, below the monthly estimate. This is $6.1 million, or 1%, below collections in August 2023. Total GRF collections for the first two months of fiscal year 2025 are $1.2 billion, which is $3.5 million, or 0.3%, below the estimate and $10.9 million, or 0.9%, above prior year collections for the same period.

"Overall collections during the second month of fiscal year 2025 are generally aligned with estimates, positioning the state's General Revenue Fund slightly ahead of last year at this time," said OMES Director Rick Rose. "Lower than forecasted gas prices contributed to the decline in Oklahoma's gross production gas revenue, which fell short of the monthly estimate by 39%. With the rollout of the grocery tax reduction, we do expect sales tax proceeds to trend down in comparison to prior years but remain in line with estimates as the fiscal year progresses."

August 2024 revenue tables are available on the OMES website.

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.

Christa Helfrey
christa.helfrey@omes.ok.gov

The Office of Management and Enterprise Services provides financial, property, purchasing, human resources and information technology services to all state agencies, and assists the Governor’s Office on budgetary policy matters. Our mission: Provide excellent service, expert guidance and continuous improvement in support of our partners’ goals. For more information, visit oklahoma.gov/omes.