OKLAHOMA CITY – General Revenue Fund collections in March totaled $639.5 million, which is $21.6 million, or 3.5%, above the monthly estimate. This is $68.7 million, or 9.7%, below collections in March 2023. Total GRF collections for the first nine months of fiscal year 2024 are $6 billion, which is $249.2 million, or 4.3%, above the estimate and $324.5 million, or 5.1%, below prior year collections for the same period.
“For the third consecutive month, the state's general revenue came out ahead of estimates for both the month and fiscal year to date,” said State Chief Operating Officer and OMES Executive Director John Suter. “With three months remaining in FY 2024, we will continue to monitor collections and determine the potential of a deposit to the state's Revenue Stabilization Fund.”
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
