Oklahoma's 12-month gross receipt collection for October came in slightly below the previous year's revenue, marking the first time in over two years that receipts to the Treasury fell below the prior year’s 12-month revenue.
Oklahoma's 12-month gross receipt collection saw an upswing in September, outpacing September of last year's 12-month revenue.
Oklahoma's state treasure says a slowing economy caused Oklahoma to experience a decline in gross receipt totals in August.
Gross receipts to the Oklahoma State Treasury were down in July because of lower oil and gas collections, according to State Treasurer Todd Russ.
Oklahoma's gross receipts to the State Treasury tapered off in May due to a decline in energy prices.
Gross receipts submitted to the Oklahoma State Treasurer reached a new high over the past 12 months, with a nearly $2 billion rise from the previous 12 months, but rising interest rates are causing concern over future economic growth.
