Newspaper article THE JOURNAL RECORD

Revenue Report Indicates State in Good Shape for Fiscal 1998

Newspaper article THE JOURNAL RECORD

Revenue Report Indicates State in Good Shape for Fiscal 1998

Article excerpt

The latest revenue report from the Office of State Finance shows that Oklahoma's new fiscal year is off to a good start and that's a good sign for the Oklahoma economy, a Senate budget leader said Wednesday.

"It's always nice to start a new fiscal year off with a bang," said Sen. Kelly Haney, D-Seminole, who chairs the Senate Appropriations Committee. "It indicates the economic growth and good times we've experienced in recent years are continuing."

Haney was referring to the June revenue collection report issued by the state finance office this week. June is the first month of the new fiscal year in Oklahoma. According to the report, tax collections increased $11.8 million in June, a 4.2 percent increase over the same period last year and about 1 percent above the estimate. The latest report continues a series of revenue successes posted during the fiscal year ended June 30. The state was able to make a record deposit to its rainy day fund last month because of the larger-than-expected revenue collections. …

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