Records set for Oklahoma's past fiscal year

By Michael McNutt

Published: July 11, 2006

Oklahoma’s strong economy produced record revenues for the state in the fiscal year that ended June 30, state officials said today.

Preliminary reports show collections for the state’s general fund for the 2006 fiscal year totaled $5.7 billion. That is about $745 million, or about 15 percent, more than the previous fiscal year.

“Oklahoma’s economy is producing record revenues for the state,“ state Treasurer Scott Meacham said.

Every major tax category finished ahead of prior year collections, Meacham’s report shows.

The state for the second consecutive year is able to fill its savings account, the Rainy Day Fund, to its constitutional limit. After that account is filled, the state will have a surplus of about $520 million, Meacham said.