The Norman Transcript

Local news

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
Local news
  • Body 1 Police identify woman found dead Monday

    Norman police have identified a woman found dead in her home at 2202 Donna Drive Monday afternoon. Police responded at 1:25 p.m. to the residence of Cassandra Thompson, 30, after receiving a report that she had not shown up for work ...

    July 29, 2014 1 Photo

  • Residents speak out about document regarding shelter photos

    Norman and metro-area residents showed up in overwhelming numbers, many in red shirts, for an Animal Shelter Oversight Board meeting Monday night demanding for their opinions to be heard....

    July 29, 2014

  • Mixon’s attorney says athlete acted in self-defense

    The attorney for Oklahoma running back Joe Mixon says the incident that left a 20-year-old female OU student with multiple facial fractures was a case of self-defense. “This past Friday morning, Joe Mixon found himself in a situation ...

    July 29, 2014

  • County moves forward on nursing home bonds

    Cleveland County commissioners on Monday approved a resolution authoring a county trust to issue up to $15 million for a nursing home on the site of the former Whispering Pines nursing home at 501 E. Robinson St....

    July 29, 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

  • Little Axe Health Center hosting blood drive

    Norman-area blood donors this summer will not only save lives when they donate with Oklahoma Blood Institute (OBI), they’ll also get “Feel Cool” T-shirts and two tickets to the Oklahoma City Zoo....

    July 29, 2014

  • Woman arrested for allegedly bringing gun into courthouse

    Cleveland County sheriff’s deputies arrested a Norman woman Friday after she allegedly brought a loaded handgun to the Cleveland County Courthouse. Cynthia Bodnar, 52, of Norman, entered the courthouse through the east entrance shortly ...

    July 29, 2014

  • Man in critical condition after being pinned in wreck

    A Norman man remained in critical condition Monday after a single-vehicle wreck around 10:15 p.m. Sunday at 1100 80th Ave. SE. Norman police believe Justin Davis, 33, was intoxicated when he got tangled in his vehicle and pinned....

    July 29, 2014

  • Teen dies after drowning incident

    After rescue attempts by Good Samaritans and medical crews, Oklahoma Highway Patrol confirmed that a Yukon teen died at 5:50 a.m. Monday after a drowning incident Sunday at Lake Thunderbird....

    July 29, 2014

  • Police log

    Police responded to the following incidents Sunday: · 12:07 a.m. vandalism, 700 block of Asp Avenue · 1:29 a.m. larceny report, 300 block of North Interstate Drive East · 2:50 a.m. larceny report, 300 block of North ...

    July 29, 2014