OKLAHOMA CITY – General Revenue Fund collections in February totaled $472.2 million, which is $23.5 million, or 5.2%, above the monthly estimate. This is $29.2 million, or 5.8%, below collections in February 2023. Total GRF collections for the first eight months of fiscal year 2024 are $5.4 billion, which is $227.6 million, or 4.4%, above the estimate and $255.8 million, or 4.5%, below prior year collections for the same period.
“In line with our expectations, the state's general revenue collections for the month again slightly exceeded estimates,” said State Chief Operating Officer and OMES Executive Director John Suter. “The positive trend also continues for year-to-date collections, which indicates resilience despite fluctuating variables from month to month.”
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
