The state of Oklahoma started 2010 on an upward note, according to state Treasurer Scott Meacham. In a press conference in the state Capitol’s Blue Room Tuesday, Meacham said revenue collections for January showed a “slight improvement.”
“We’re not out of the woods yet,” Meacham said, “but we are seeing positive improvement.”
Preliminary figures show general revenue fund collections last month were $410.4 million. That is $82.4 million, or 16.7 percent, below the prior year and $107.6 million, or 20.8 percent, below estimates.
Meacham said January revenue collections are sufficient to fund allocations to state agencies for the month, with the 10 percent reduction from appropriated levels. He says those 10 percent cuts will continue through the rest of the fiscal year.
“One month does not make a trend, but it’s one we obviously hope continues into the coming months,” Meacham said.
“This is certainly welcome news,” said OPEA Executive Director Sterling Zearley. “Any upward movement is a positive sign. Does it mean state employees can breathe a sigh of relief? Not at all. We are still on dangerously thin ice. We need everyone in public service to get on board with OPEA as we work to keep our jobs and our benefits safe.”
