Oklahoma’s General Revenue Fund (GRF) collections in November totaled $601.6 million. According to a report from the Office of Management and Enterprise Services (OMES), this total is $26.6 million, or 4.2%, below the monthly estimate.

This is $51.1 million, or 7.8%, below collections in November 2023. Total GRF collections for the first five months of fiscal year 2025 are $3.28 billion, which is $2.7 million, or 0.1%, above the estimate, and $64.7 million, or 1.9%, below prior year collections for the same period.

On Dec. 20, the state Board of Equalization (BOE) will meet and new revenue projections will be available to gauge the expected performance in the second half of the fiscal year.

“As we near the midpoint of the state’s fiscal year, General Revenue Fund receipts remain generally in line with estimates despite softening in some tax categories,” said OMES Director Rick Rose. “Ongoing factors such as the effects of the state grocery tax elimination and fluctuations in income and gross production taxes, particularly gas (GPT-gas), remain influential. The upcoming BOE meeting will provide an updated forecast for the remainder of FY 2025, helping us monitor the state’s financial landscape going forward.”

November 2024 revenue tables are available on the OMES website.