OKLAHOMA CITY – General Revenue Fund collections for the month of July – the first month of fiscal year 2025 – totaled $620 million, which is $10.8 million, or 1.8%, above the monthly estimate. This is $17 million, or 2.8%, above collections in July 2023.
"Our state's general revenue collections are off to a strong start this fiscal year, coming in slightly higher than the estimate and even surpassing last year's numbers," said Katie DeMuth, interim director of OMES. "In the coming months, we'll closely monitor the impact of the grocery tax cut, but we expect the state's revenue to continue performing in line with projections as the year progresses."
The state anticipates the grocery tax cut recently authorized by House Bill 1955 will affect sales tax revenue collections starting in September.
General revenue apportionments from oil gross production tax (GPT-oil) collections are expected to begin by October after other funds receiving apportionments from GPT-oil hit their caps.
July 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.
Media Contact
Christa Helfrey
christa.helfrey@omes.ok.gov
About OMES
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.
