Collections for state’s main operating fund continue to climb

OKLAHOMA CITY (AP) – Oklahoma finance officials say collections to the state’s main operating fund continued to exceed projections last month, outpacing both the official estimate and last year’s collections.

Office of Management and Enterprise Services Director John Budd reported Tuesday that collections to the General Revenue Fund totaled $385.2 million last month. That’s nearly 20 percent above the official estimate and more than 30 percent above collections in February 2018.

The General Revenue Fund is the main source for the appropriated state budget.

For the first eight months of the fiscal year, collections to the fund have exceeded the official estimate by nearly 7 percent. Any revenue above the estimate will be deposited into the state’s Rainy Day Fund which helps fund state operations when revenues decline.