A new report shows Oklahoma’s General Revenue Fund collections in the first half of the 2023 Fiscal Year gained more than 13% compared to the previous year.
The report by the Office of Management and Enterprise Services indicated collections in December totaled $767.6 million, an amount that was $78.3 million or 11.4% more than the monthly estimate.
This is $5.2 million, or 0.7%, below collections in December 2022. Total GRF collections for the first six months of fiscal year 2023 are $4.3 billion, which is $761.5 million, or 21.8%, above the estimate, and $493.4 million, or 13.1%, above prior year collections for the same period.
“Collections continue to show strength, with year-to-date collections consistent with our latest projections for fiscal year 2023,” said state Chief Operating Officer and Interim OMES Director John Suter.
“While we’re seeing a flattening in monthly collections compared to December 2021, this is consistent with the broader economy, which is cooling off as inflation begins to ease.”