Oklahoma finance officials brace for steep revenue losses
April 15, 2020
OKLAHOMA CITY (AP) — Revenue collections to Oklahoma's main state operating fund were just 3.6% below projections last month, but state finance officials warned Tuesday that the biggest hit is expected over the next three months.
Collections to the General Revenue Fund in March totaled $494.6 million, which was 3.6% below the monthly estimate, the Office of Management and Enterprise Services reported.
But OMES Director Steve Harpe said the state has yet to see the full impact of $20-per-barrel oil combined with the economic shutdown in response to the coronavirus and the extension of tax-...