The Norman Transcript

Editorials

November 7, 2012

Revenue picture continues to improve

NORMAN — Oklahoma’s up and down economy has traditionally been one of the last to be hit with national economic problems, and the state is usually one of the last to emerge from a recession.

But the state’s economy appears to be recovering faster than many areas of the country as evidenced by higher tax collections on income, gross production and consumer good sales.

State Treasurer Ken Miller this week said the gross receipts to the treasury for October were up 9 percent and reflect the highest year-over-year increase in eight months.

The rebound of gross production taxes on oil and natural gas has certainly helped. The tax is down only about 7 percent after falling as much as 54 percent from previous years’ collections.

Personal income tax collections were up more than 20 percent. Sales taxes were up about 4 percent over the previous year. That bodes well for cities and counties that rely on the source for operations.

“In spite of the uncertainty surrounding the national elections and the impending fiscal cliff, Oklahoma’s economy is showing marked improvement,” Treasurer Miller said. “After leveling off for some six months, revenue collections have resumed their positive trajectory.”

Miller said the Business Conditions Index for the state also improved this past month. The survey’s leading economic indicator rose to 63.3 from 56.6 in September. Numbers above 50 mean growth is expected.

For local news and more, subscribe to The Norman Transcript Smart Edition, or our print edition.

1
Text Only | Photo Reprints
Editorials
  • Repairs still needed

    Lawmakers once again kicked the can down the road on making needed repairs to the state Capitol. By a 62-34 vote, they turned down a Senate-approved plan to authorize up to $160 million in bonds to repair the nearly century-old building....

    April 24, 2014

  • Can’t have it both ways

    Local sheriff Joe Lester wasn’t among the state sheriffs and lawmakers protesting the removal of state prisoners from county jails this week. The sheriffs, some of whom have protested by having too many state prisoners in their ...

    April 24, 2014

  • Help for rural America

    A drive through rural parts of the Southwest can be depressing. For sale and for rent signs are prevalent. Businesses along main streets have closed. Unless they are close to a major interstate highway, many communities are in decline....

    April 23, 2014

  • Embarrassment to Oklahoma, again

    The standardized testing that was halted in local schools Monday is another embarrassment to the state. The same thing happened a year ago and Oklahoma gave them another chance....

    April 23, 2014

  • Time to move on; exit of Sebelius is right choice

    From the moment it became obvious that healthcare.gov wasn’t working, Health and Human Services Secretary Kathleen Sebelius became damaged goods for the White House....

    April 23, 2014

  • Happy birthday to us

    We don’t expect any cake and that many candles might be dangerous but today is the unofficial 125th birthday of Norman....

    April 22, 2014

  • Dancing forward

    The official motto for Mike Fowler’s chairmanship of the Norman Chamber of Commerce is “Moving Norman Forward.” But after Thursday night’s annual banquet, the sub-theme should be, “Let’s Dance, Norman.” More than 500 chamber members and ...

    April 19, 2014

  • Local control or not?

    Oklahoma lawmakers are a fickle bunch when it comes to issues of local control. Sometimes they want it and other times they do not....

    April 19, 2014

  • There’s no need to fix system that’s working

    Lawmaker attempts to alter the way judges are selected are being challenged by the state’s lawyers. More than 1,800 signatures on a state bar association petition urging a “no” vote on Senate Joint Resolution 21 have been gathered in just ...

    April 18, 2014

  • On the side of openness

    Oklahoma Gov. Mary Fallin has been criticized for failing to release emails and other information sought by press outlets who believe it was covered under the state’s Open Records Act. Now, Fallin is coming down on the side of keeping the ...

    April 18, 2014

Video
Facebook