Oklahoma State Revenue Shows Improvement

The Associated Press

OKLAHOMA CITY -- State revenue is projected to improve over the coming year, a sign that Oklahoma is slowly pulling out of the national economic slump.

The state Board of Equalization Monday certified revenue that will be available to pay for state services during the fiscal year that begins July 1. That certification is more than $308 million more than revenue estimates the board approved in February.

Gov. Brad Henry says the higher revenue projection indicates the state's economy is improving. He says officials are cautiously optimistic that the trend will continue.

The revenue projections show increases in gross production taxes on oil and natural gas and state income, sales and motor vehicle taxes.

The board is comprised of Henry and other statewide elected and appointed officials.