The Norman Transcript

Breaking News


February 7, 2014

A note of optimism for state’s revenue

NORMAN — A few of the state’s more optimistic lawmakers have held out hope that the state’s final revenue numbers would be better once the Board of Equalization meets the middle of this month.

That board will make the final certification on the amount of tax money that the legislature can appropriate and agencies can begin spending in July.

A report from the state’s treasurer suggests that optimism may be well founded.

The January gross revenue report shows record highs set in sales tax, personal income tax withholding payments and gross receipts.

“Oklahomans earned and spent at record levels during the past month,” Treasurer Ken Miller told the Tulsa World. “Also, total receipts last month brought in more than in any other January, indicating healthy performance of the state’s economy.”

Gov. Mary Fallin built her budget numbers on an early Equalization Board report that showed the state will have about $171 million fewer dollars to appropriate.

Fallin is seeking a 5 percent cut to most state agencies.

Dr. Miller said January’s total gross collections were $1.07 billion, up nearly 6 percent from January 2012.

Income tax, both personal and corporate, make up the biggest state government revenue stream.

Sales taxes were up about 3.6 percent. That category is significant in that it shows consumer confidence in the state’s economy and also helps cities and towns pay their bills.

Sales taxes are the biggest source of revenue for Oklahoma municipalities’ general operating funds.

Breaking news, severe weather alerts, AMBER alerts, sports scores from The Norman Transcript are available as text messages right to your phone or mobile device. You decide which type of alerts you want to receive. Find out more or to signup, click here.

Text Only | Photo Reprints
  • 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

  • A raise for troopers, but what about others?

    Oklahoma Highway Patrol troopers could see an increase in their paychecks during the state’s next fiscal year, which begins in July....

    April 17, 2014

  • Top honors for NPS

    Top honors keep rolling in for both of Norman’s high schools. The district learned this past week that Norman High School and Norman North High School have been recognized as two of the most rigorous high schools in the country and in the ...

    April 16, 2014

  • Wind power bursting

    There are a few wind generators dotting the Norman skyline, but western and northwestern Oklahoma makes up for the deficit here. An industry group this week said Oklahoma ranks fourth nationally in the amount of wind-generated ...

    April 16, 2014

  • Protect your home from wildfires

    To most people, fuel is what you put into your gas tank. To firefighters, it means something altogether different. To people who make a living putting out fires, fuel is that material that feeds wildfires — and there is an abundance of it ...

    April 12, 2014

  • Let’s toast: Main Street bridge nearly complete

    It was January 2013 when crews began knocking down the Main Street bridge over Interstate 35. The timeline on completion has always been this May. If everything comes together and the weather holds for the next few days, the overpass and ...

    April 11, 2014

  • Yes to Capitol and museum

    Two major spending bills have emerged from the powerful House Appropriations and Budget Committee headed by Norman Rep. Scott Martin. Both are up for passage in the full House of Representatives. We believe both deserve passage....

    April 11, 2014