January GRF collections on track with estimates ahead of BOE meeting

OKLAHOMA CITY – General Revenue Fund collections in January totaled $876.2 million, which is $13.2 million, or 1.5%, above the monthly estimate. This is $2.3 million, or 0.3%, below collections in January 2024. Total GRF collections for the first seven months of fiscal year 2025 $4.9 billion, which is $40.4 million, or 0.8%, above the estimate, and $33.2 million, or 0.7%, below prior year collections for the same period.

On Feb. 14, the state Board of Equalization (BOE) will meet and certify re-estimates for FY 2026, which will set the Legislature's appropriation authority for the 2025 legislative session. The February 2025 BOE packet will also include updated projections for the remainder of FY 2025. This packet will be available on the OMES website following the Friday BOE meeting.

"January revenue collections remain aligned with current monthly and fiscal year-to-date estimates, with strong income tax performance and investment gains helping to offset shortfalls in gross production and sales tax revenue," said State Chief Operating Officer and OMES Director Rick Rose. "At Friday's meeting, the BOE will provide an updated outlook for the remainder of FY 25 and solidify the state's appropriation budget for the new fiscal year."

January 2025 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.