General revenue fund collections for the first three quarters of fiscal 2008 are $61 million lower than for the same period in fiscal 2007 but $25.8 million above the estimate, Oklahoma Treasurer Scott Meacham said last week.
“With 75% of the fiscal year behind us, we are seeing continued growth in the economy, but at a much slower pace than when the year began,” Meacham said in releasing the numbers. “In spite of variations in some revenue streams, gross production receipts and sales tax collections are showing ongoing strength.”
Net income tax collections totaled $1.7 billion through March, a drop of some $228.5 million from the same period last year, and $70 million less than the estimate.
