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Revenue Collections Slow in August (Sep 12, 2012)

OKLAHOMA CITY (AP) - Oklahoma's secretary of finance says collections by the state's General Revenue Fund slowed in August, hampered by low energy prices.

But Preston Doerflinger said Wednesday that sales tax receipts beat collections from the prior year by double digits.

Total collections in August were about $386 million - down $28 million or 6.8 percent from August 2011 - and is $17 million lower than the estimate.

Sales tax collections beat the estimate by about 4 percent in July and by 6 percent in August. Sales tax collections in August also exceeded the prior year by 12 percent.

General Revenue collections for the first two months of the fiscal year that began July 1 were $775.5 million, down $22 million from the previous year but $3 million above the estimate.

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