Oklahoma revenue collection in February falls below estimate
OKLAHOMA CITY (AP) — Oklahoma’s revenue collections for February were $294.2 million, $2 million below the monthly estimate but $46 million more than was collected in February 2017.
State Office of Management and Services Director Denise Northrup said Tuesday that the state’s economy is still recovering from several years of a downturn that led to budget shortfalls and funding cuts to state agencies.
Northrup said that while income tax collections were 444.3 million ad $19.3 million above estimates, other revenue categories collected $42.9 million that were $11.4 percent below projections.
Northrup said February is historically the lowest month for collections and she sees “steady progress” during the remainder of the fiscal year.