General Fund Revenue Still below April State Expenses/cash Flow Funds Needed

By Tipton, David | THE JOURNAL RECORD, April 18, 1987 | Go to article overview

General Fund Revenue Still below April State Expenses/cash Flow Funds Needed


Tipton, David, THE JOURNAL RECORD


Oklahoma general fund revenue collections for March reached $125.3 million, which was still $50.1 million or 28.6 percent below the $175.4 million needed to pay the state's bills for April, according to the Office of State Finance.

The $125.3 million includes both collections for the general revenue fund, such as gross production taxes and state income taxes, and the human services fund, which had been a completely separate fund for the Department of Human Services.

Both of those funds were merged into one fund by a new law which went into effect last month.

To make up the difference between March tax receipts and April allocations to the state agencies, $47.7 million from the newly combined cash flow fund and $2.4 milion in one-time receipts the state received in March will be used.

The majority of the one-time receipts, $2 million, came for funds that exceeded requirements in the state's bond escrow account.

Finance Director Dr. Lex Holmes said that $47.9 million is still available in the cash flow funds for use in May and June if needed, and for cash-flow requirements for the new fiscal year beginning July 1.

Holmes and Gov. Henry Bellmon have been concerned about the amount of money that would be available to start the new fiscal year. …

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General Fund Revenue Still below April State Expenses/cash Flow Funds Needed
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