The Norman Transcript

Government

March 5, 2013

Treasurer: Collections dipped in February

NORMAN — Oklahoma revenue collections dipped slightly in February, the fifth such occurrence in the past year, State Treasurer Ken Miller said Monday as he released the state’s monthly gross receipts to the treasury report.

“As with last March, June, August and November, collections in February are lower than the same month of the prior year,” Miller said. “This follows 24 consecutive months of collections beating the prior year.”

Miller said economic growth continues, but at a more subdued pace.

“Our average growth rate between March 2011 and February 2012 topped 10 percent,” he said. “For the past 12 months, growth has averaged 2 percent.”

February gross collections were down by 2.4 percent, or almost $20 million, from February of last year. Oklahoma’s two biggest sources of revenue, income tax and sales tax, both grew — income by 1.4 percent and sales by 3.9 percent.

Gross production, motor vehicle taxes and other sources were all reported as lower than the prior year.

Monthly collections were marginally affected by the inclusion of a leap day last February.

Looking forward, Miller said the impact of a prolonged standoff in Washington over the federal budget and spending could eventually impact Oklahoma.

“The spillover effects of sequestration on household consumption and business investment are a concern and could hamper future growth,” he said. “The sequester cuts, which are disproportionately weighted toward the military, could weaken both national security and our state’s economy. Federal spending must be greatly reduced, but should be done strategically and include entitlement reform — the real spending problem in Washington.”

Positive business conditions: The latest Business Conditions Index for Oklahoma report anticipates continued economic growth, though slightly slower than in January’s report. The February survey shows Oklahoma with a rating of 52.5, compared to January’s 53.8. Numbers above 50 indicate anticipated growth.

According to the survey, Oklahoma’s economy is outperforming other states in the region as unemployment has dropped by two percentage points since the recovery started and the state labor force has expanded by almost 40,000 jobs.

Text Only | Photo Reprints
Government
  • Shelter construction ongoing; residents voice concerns

    A regular quarterly meeting of the Animal Shelter Oversight Board prompted Norman residents to speak up about more than just a photo release issue Monday night involving Friends of the Animals of Norman volunteers and the city of Norman. ...

    July 30, 2014

  • Voter registration deadline is Friday

    Friday is the last day to apply for voter registration to be eligible to vote in the Aug. 26 Runoff Primary Election. Races include federal, state and county offices, but for Cleveland County voters, the field is limited....

    July 30, 2014

  • Breast Care Center will relocate to HealthPlex

    The Norman Regional Health System will move its Breast Care Center to the HealthPlex campus, making it more accessible for patients, hospital officials said Monday. At its monthly board meeting, the Norman Regional Hospital Authority ...

    July 29, 2014

  • Officials say transparency lacking in Wal-Mart zoning

    Norman city staff recently admitted to withholding information from the public regarding a controversial zoning change in southeast Norman. If approved by the city council, the proposal will allow a Wal-Mart supercenter at Cedar Lane and ...

    July 25, 2014

  • Fracking Operation Norman library to host community dialogue about fracking

    Are Oklahoma oil companies an oligarchy that is controlling state policy? Is fracking safe? These and other topics will be the subject of an upcoming Fracking Forum from 7 to 8:30 p.m. Aug. 11 in the Norman Public Library’s Lowry Room, 225 ...

    July 24, 2014 1 Photo

  • City manager calls Moore strong while addressing Chamber

    MOORE — Moore’s City Manager Steve Eddy could have quoted Dickens: “It was the best of times, it was the worst of times.” Eddy, with help from Mayor Glenn Lewis, reported on Tuesday on the State of the City to the Moore Chamber of ...

    July 23, 2014

  • walmart City leaders say ‘yes’ to Wal-Mart supercenter postponement

    Despite complaints that a postponement request was in the eleventh hour, a zoning change in east Norman was put on hold Tuesday night. The proposal to rezone property at Cedar Lane Road between 24th Avenue Southeast and Highway 77 ...

    July 23, 2014 1 Photo

  • Moore City Council paves way for Sam’s Club location

    MOORE — The Moore City Council approved a $5 million bond Tuesday to be repaid with sales tax and utility revenues. “A good amount of street improvements needs to be done,” Moore City Manager Steve Eddy said. “This will be paid for with ...

    July 22, 2014

  • Another brick in the Wal-Mart

    Norman could soon have five Wal-Mart stores, including three supercenters and two neighborhood markets. A proposal for the newest supercenter will come before the Norman City Council at 6:30 p.m. Tuesday via a request for a zoning change on ...

    July 20, 2014

  • Local group celebrates ruling

    A local group, Mothers of Many, expressed its elation with Friday’s 10th Circuit Court ruling striking down Oklahoma’s state ban on same-sex marriage....

    July 20, 2014