State revenue collections in Sept. $16.5 million over forecast
September's revenue collections are in.
And they're ahead of forecast.
State Office of Management and Budget director Pam Sharp said they came in $16.5 million ahead of forecast. And since July, the beginning of FY 2018, state revenues are $26.5 million ahead.
"We do believe we have turned the corner," Sharp said.
Sharp said things have picked up since the spring.
"We've had some really good, solid months of sales tax collections," Sharp said. "I think a lot of that has been generated from the western part of the state. It's encouraging."
The 2017 Legislature had to cut virtually every state budget because revenues lagged behind forecasts. And before the session convened, there were two budget allotments.
Sharp said oil and gas taxes were lower than the forecast by $2.1 million, due to lower than expected oil prices. But she said oil production staying over the million-barrel-a-day mark has helped keep the revenues up.