GRF collections 5.3% below December estimate, 5.1% above YTD estimate
OKLAHOMA CITY – General Revenue Fund collections in December totaled $705 million, which is $39.1 million, or 5.3%, below the monthly estimate. This is $62.6 million, or 8.2%, below collections in December 2022. Total GRF collections for the first six months of fiscal year 2024 are $4.1 billion, which is $196 million, or 5.1%, above the estimate and $201.4 million, or 4.7%, below prior year collections for the same period.
“Through six months of fiscal year 2024, collections to the General Revenue Fund have exceeded the estimated collections in aggregate," said State Chief Operating Officer and OMES Executive Director John Suter. "As we look to the balance of the year, we expect that overall collections will be in line with the estimates for the full fiscal year.”
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
