General Revenue Fund collections in August totaled $603 million, which is $14.3 million, or 2.3%, below the monthly estimate. This is $6.1 million, or 1%, below collections in August 2023. Total GRF collections for the first two months of fiscal year 2025 are $1.2 billion, which is $3.5 million, or 0.3%, below the estimate and $10.9 million, or 0.9%, above prior year collections for the same period.
“Overall collections during the second month of fiscal year 2025 are generally aligned with estimates, positioning the state’s General Revenue Fund slightly ahead of last year at this time,” said OMES Director Rick Rose. “Lower than forecasted gas prices contributed to the decline in Oklahoma’s gross production gas revenue, which fell short of the monthly estimate by 39%. With the rollout of the grocery tax reduction, we do expect sales tax proceeds to trend down in comparison to prior years but remain in line with estimates as the fiscal year progresses.”
(Editor’s Note: This story was provided by the Office of Management and Enterprise Services with minor edits for style.)
