Oklahoma Revenue Collections Continue Positive Trend

The Associated Press

OKLAHOMA CITY (AP) -- State officials say the new fiscal year got off to a good start with revenue collections for July exceeding both last year's collections and the official estimate.

State Treasurer Scott Meacham released the preliminary July figures on Tuesday. They show that collections for the month totaled $370 million. That's about 10 percent above collections in July 2009 and nearly 12 percent above the official estimate.

Meacham says collections for all major revenue areas except one exceeded revenue projections. He says the gross production taxes on natural gas were about 27 percent lower than expected.

Meacham says he was particularly pleased the state sales tax exceeded both prior year collections and the estimate. He said it shows Oklahomans have faith in the state's economy.