State Revenues Fall Short for 12th Straight Month

Oklahoma&#39;s revenue collections have fallen short for the 12<sup>th</sup> straight month, State Treasurer Scott Meacham announced Tuesday.

Tuesday, January 12th 2010, 3:07 pm

By: News 9


News9.com

OKLAHOMA CITY – Oklahoma's revenue collections have fallen short for the 12th straight month, State Treasurer Scott Meacham announced Tuesday.

Revenue collection was about 30 percent below the budget estimate, Meacham said.

"We were hopeful that revenues might begin to improve slightly; instead they continued their downward slide," he said.

Meacham said the December's revenue was sufficient enough to fund allocations to state agencies because agencies had been ordered to cut 10 percent from their budgets.

The 10 percent cuts have been ordered again this month, said Gov. Brad Henry.

"We know the continued cuts are taking their toll on important state programs and services, but we are making good progress in our budget discussions with legislative leaders," Gov. Henry said. "We are considering all available options to address this historic revenue shortfall and are hopeful we will reach a consensus before the regular session begins next month."

Treasurer Meacham said it is likely the cuts will continue throughout the fiscal year which ends in June.  

 "Continued spending cuts are a certainty. How much deeper, if any, they will have to go is the question at this point," Meacham said.

Read the Revenue Report

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