State Revenue Collections Exceed Budget Estimates for First Time Since 2008

By Dave Jordan, NEWS 9

OKLAHOMA CITY -- State revenue collections for February exceeded the official estimate for the first time since December 2008, State Treasurer Scott Meacham announced.

Oklahoma collected $220.6 million in February, about $800,000 more than estimated by state officials.

Public Employees Association has complained for months about the cuts amid concern that their jobs could also be on the chopping block. Tuesday they took their complaints to the steps of the very building making the decision about their future.

"The budget shortfall is going to affect every one of us," OPEA President Connie Stockton said in a statement. "We'll either see our jobs cut and be on the unemployment line or our co-workers will be cut and we'll be left picking up the slack and doing their job in addition to ours."

Anger and frustration reach a fever pitch among state employees after weeks of worry over their livelihood.

"We understand that the money gets tight, we understand that the budget gets tight, we understand all of that, but at the same time, what do we do?" Mark Finch said.

Finch has worked for the Department of Corrections for 20 years. He's seen his share of cutbacks in the agency and said it can't endure anymore.

"We're already at the point in a lot of facilities where we're working overtime because we don't have enough staff to cover those shifts," Finch said.

Finch joined other public employees who staged a rally on the steps of the state Capitol on the same day State Treasurer Scott Meacham announced February's revenues. Last month, the state brought in $220 million, a slight increase above the estimate, but lower than a year ago--which means the 10 percent monthly cut in state agency allocations remains in effect.

"The money you see right now is the money you're going to have to live with and next year, it's only going to be worse; it's definitely not going to be any better," Oklahoma State Treasurer Scott Meacham said.

Senator Kenneth Corn spoke at the rally and says the cuts should also apply to legislators and senior government staff. He's written two bills to that affect.

"I don't believe that elected officials should be a special class of people who don't share the burdens that all Oklahomans are facing, so we intend to try to move those two pieces of legislation forward this year," Sen. Corn said.

One of those amendments that would allow the legislature to cut the governor's salary in the event of a revenue shortfall passed out of the Senate. Corn says the savings won't be that significant but it would send a strong message to the public.

Treasurer Meacham said gross production taxes on oil are providing a much-needed boost in revenue collections.

"We received $25 million in gross production taxes on oil in February, while the official estimate anticipated no oil gross production taxes would be deposited to the General Revenue Fund for the entire fiscal year," he said.

While the state's revenue is improving, a 10 percent reduction remains in effect for state agencies.

House Speaker Chris Benge responded to the release of February revenue figures:

"I still remain hopeful that our state has seen or will soon see the bottom of this global economic recession. But, even though the significantly-lowered estimate was met this month, that does not change the fact is our state is still facing a $1.2 billion shortfall for fiscal year 2011 and agencies are currently facing significant additional cuts if revenue projections prove true."

Senate President Pro Tem Glenn Coffee released the following statement on the February revenue report:

"The February revenue report is encouraging, and it's good to see our revenues meeting projections for the first time in over a year, but we must keep in mind as we craft our 2011 budget that we are still well below where we need to be, and we will plan accordingly as we move through the process."

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View the full revenue report.