Collections to Oklahoma treasury reach record highs

OKLAHOMA CITY (AP) — State Treasurer Randy McDaniel says overall collections to the Oklahoma treasury continue to set record highs fueled largely by an influx of federal funding. McDaniel says overall treasury receipts for June and the fiscal year ended June 30th set record highs. He attributes the increase largely to an infusion of more than $10 billion in federal payments to Oklahomans in response to the pandemic. He says collections from oil and gas production taxes have more than quadrupled from June 2020, when payments sank to a record low because of depressed oil prices.