{"id":2111,"date":"2011-11-16T14:05:43","date_gmt":"2011-11-16T20:05:43","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=2111"},"modified":"2012-12-20T10:14:50","modified_gmt":"2012-12-20T16:14:50","slug":"exploring-oklahoma%e2%80%99s-revenue-growth","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2011\/11\/16\/exploring-oklahoma%e2%80%99s-revenue-growth\/","title":{"rendered":"Exploring Oklahoma\u2019s Revenue Growth"},"content":{"rendered":"<div id=\"attachment_2113\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a href=\"http:\/\/www.flickr.com\/photos\/jasonbondy\/2026941\/sizes\/m\/in\/photostream\/\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-2113\" title=\"Oil Pump\" src=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/11\/oil-pump-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/11\/oil-pump-300x225.jpg 300w, https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/11\/oil-pump.jpg 500w, https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/11\/oil-pump-150x113.jpg 150w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p class=\"wp-media-credit\">Jason B. \/ Flickr<\/p>\n<p class=\"wp-caption-text\">The state&#39;s general revenue fund received a $7.6 million deposit from oil gross production taxes in October.<\/p>\n<\/div><p>The state\u2019s general revenue fund is growing, State Finance Director Preston Doerflinger said in a <a href=\"http:\/\/ok.gov\/OSF\/News\/General_Revenue_Fund_Receipts_Climb_in_All_Major_Categories.html\">statement<\/a> released Tuesday.<\/p><p>The <em>Tulsa World<\/em>\u2019s Randy Krehbiel on <a href=\"http:\/\/www.tulsaworld.com\/news\/article.aspx?subjectid=11&articleid=20111116_16_A10_OLHMIY761694&rss_lnk=16&r=4549\">the basics<\/a>:<\/p>\n<blockquote><p>Deposits to the fund, the source for most legislative appropriations, totaled $408.1 million for October, a 6.3 percent increase over the same month a year ago and 2.3 percent above projections.<\/p><\/blockquote><p><!--more--><em>The Oklahoman<\/em>\u2019s Michael McNutt <a href=\"http:\/\/newsok.com\/increased-oil-production-spurs-oklahomas-economic-growth\/article\/3623467?custom_click=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Newsok%2FNews%2FPolitics+%28NewsOK.com+RSS+-+news+%3E%3E+politics%29&utm_content=Google+Reader\">on how<\/a> oil fueled the boost:<\/p>\n<blockquote><p>The general revenue fund received a $7.6 million deposit from oil gross production taxes in October after the cap of $150 million was reached for funds earmarked mostly to education.<\/p><p>After the cap is hit, 81.4 percent of oil taxes go into the general revenue fund.<\/p><\/blockquote><p>Despite the growth, general fund collections are still well below pre-downturn levels.<\/p><p>In a <a href=\"http:\/\/okpolicy.org\/blog\/budget\/quick-take-despite-growth-revenues-still-well-below-pre-downturn-levels\/\">blog post<\/a>, David Blatt, director of the Oklahoma Policy Institute, said the numbers mean Oklahoma&#8217;s economy is still suffering an \u201cincomplete recovery.\u201d<\/p>\n<blockquote><p>This reflects a combination of factors: continued fragility in the job market, the impact of the permanent income tax cuts passed in the mid-2000s, and the allocation of a growing share of income tax revenue to the ROADS fund and higher education scholarships rather than the General Revenue Fund.<\/p><p>Overall,with revenues remaining well below pre-downturn levels, meeting our obligations and ensuring the adequate funding of state services will remain an enormous challenge.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The state\u2019s general revenue fund is growing, State Finance Director Preston Doerflinger said in a statement released Tuesday.The Tulsa World\u2019s Randy Krehbiel on the basics: Deposits to the fund, the source for most legislative appropriations, totaled $408.1 million for October, a 6.3 percent increase over the same month a year ago and 2.3 percent above [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":2113,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[492,15],"tags":[178,45,97,54],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/2111"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/comments?post=2111"}],"version-history":[{"count":2,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/2111\/revisions"}],"predecessor-version":[{"id":12152,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/2111\/revisions\/12152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media\/2113"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media?parent=2111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/categories?post=2111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/tags?post=2111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}