“As we review December’s general revenue numbers, it’s encouraging to see overall collections are above estimates, even though some areas, like GPT-oil and GPT-gas revenues, fell short,” said State Chief Operating Officer and OMES Director Rick Rose. “Shifts in consumer spending and the state grocery tax elimination are reflected in the latest data, but stronger-than-expected income tax and interest have helped balance the picture. These collections are in line with the updated projections outlined by the state Board of Equalization, and we will revisit estimates during the next BOE meeting in February.”
December 2024 revenue tables are available on the OMES website.
FY 2025 certified fund revenue projections and comparisons can be found in Appendix 2, Page 7 of the Dec. 20 BOE packet.
As state government’s main operating fund, the GRF is the key indicator of state government’s fiscal status and the predominant funding source for the annual appropriated state budget. GRF collections are revenues that remain for the appropriated state budget after rebates, refunds, other mandatory apportionments and after sales and use taxes are remitted back to municipalities. In contrast, gross collections, reported by the state treasurer, are all revenues remitted to the Oklahoma Tax Commission.
About the Office of Management and Enterprise Services
The Office of Management and Enterprise Services provides financial, property, purchasing, human resources and information technology services to all state agencies, and assists the Governor’s Office on budgetary policy matters. Our mission: Provide excellent service, expert guidance and continuous improvement in support of our partners’ goals. For more information, visit oklahoma.gov/omes.