State general revenue receipts increase
OKLAHOMA CITY (AP) - After a disappointing revenue report in August, state finance officials are reporting collections to the state's general revenue fund returned to positive territory in September.
Figures released Tuesday by the Office of State Finance show collections to state coffers last month exceeded those from September 2011 by $15.6 million, or 3 percent. The increase was welcome news, since August revenues were down 6.8 percent from the prior year.
Finance Secretary Preston Doerflinger says three of the four major sources of revenue for the general fund showed growth last month, including combined income, sales and motor vehicle taxes. Only collections from the state's production tax on oil and natural gas was down, and Doerflinger blamed much of that on the expiration of a moratorium on energy tax credits.
Copyright 2012 The Associated Press