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Oil Boom Helps Boost Okla. Revenue Collections (Dec 13, 2011)

OKLAHOMA CITY (AP) - State finance officials say a boom in Oklahoma's oil patch is helping to boost general revenue collections more than 20 percent over the same time last year.

The Office of State Finance released figures on Tuesday that show collections in November ahead of collections during the same month last year by 22.6 percent. That's the largest month-to-month increase in the current fiscal year.

OSF Director Preston Doerflinger (DERR'-fling-er) says the increase is due in large part to a "bonanza from gross production taxes on oil."

But he says collections last month were strong across all major categories.

Despite continued positive revenue reports, state officials are predicting a relatively flat budget for the coming fiscal year because of the loss of one-time revenue used to close this year's budget gap of about $500 million.

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