Oklahoma June revenue dips slightly from 2012

OKLAHOMA CITY (AP) -- Overall revenue collections to the state treasury were down last month about $19 million compared to June 2012, but collections for the entire fiscal year outpaced those from last year, Oklahoma Treasurer Ken Miller announced Tuesday.

Gross receipts for the month of June were about $976 million, a decrease of about 1.9 percent from June 2012, according to figures released by Miller's office.

But Miller said overall collections for the fiscal year that ended June 30 still outpaced those from the previous year. Gross receipts for fiscal year 2013 totaled $11.2 billion, an increase of more than $240 million from the year before.

"While our monthly numbers are down slightly, broad indicators show there is still reason to be optimistic about our state's financial course," Miller said.

Sales tax collections were down by 1 percent in June compared to June 2012, but for the year they were up by more than 4 percent.

Gross income tax collections, which includes personal and corporate taxes, totaled $372 million in June, a decrease of 1.3 percent from the previous June.

Overall gross production taxes on oil and natural gas generated $67.85 million in June, an increase of more than 14.5 percent from June 2012.

The figures released by Miller's office are gross receipts to the state treasury and not a reflection of how much revenue the state has available to spend. Those figures, which include collections to the state's General Revenue Fund, are expected to be released next week by the Office of Management and Enterprise Services.

For example, the gross production oil and gas tax figures released by Miller's office don't take into account millions of dollars that are rebated to oil and gas producers for certain types of drilling.