Okla. treasurer: State economy continues to climb

AP News
Posted: Jan 05, 2012 10:39 AM
Okla. treasurer: State economy continues to climb

Oklahoma Treasurer Ken Miller says the state's economy continues to improve, with another month of double-digit growth in gross collections by the state.

Miller released figures on Wednesday that show gross receipts in December were 11.1 percent higher than December 2010. For the final quarter of 2011, gross receipts exceeded the prior year by 10.5 percent. Overall for the 2011 calendar year, gross revenue collections outpaced the prior year by 9.6 percent.

December marked the 22nd consecutive month that collections outpaced those from the previous year.

Despite the improvement in state revenue collections, lawmakers are expecting a relatively flat budget for the upcoming fiscal year because of the loss of one-time revenue that won't be available for lawmakers to appropriate this year.