Oklahoma Revenue Collections Up 15% During Last Fiscal Year

4-39

July 8, 2022

Associated Press

Overall receipts to Oklahoma’s treasury were up 15% during the fiscal year that ended June 30, fueled by record-high tax collections on oil and natural gas production, State Treasurer Randy McDaniel said Tuesday.

Overall collections for the 2022 fiscal year totaled $16.46 billion, a 15% increase from the previous fiscal year, McDaniel reported. The figures show Oklahoma’s economy is continuing to expand despite inflationary pressure.

Inflationary forces are a significant concern for consumers, but Oklahoma’s macro economy is benefiting from current energy prices and low unemployment,” McDaniel said in a statement.

For the first time in state history, collections from oil and gas production taxes topped $1.5 billion during fiscal year 2022. June 2022 oil and gas production taxes totaled $171 million, the highest of any single month.

The record-high collections from oil and gas production in June are based on April production when crude oil averaged $101.78 per barrel, McDaniel reported.

Copyright 2022 Paragon Communications. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

2501021352_1293157

Elk City Man Charged with First Degree Rape

Elk City, OK – While investigating inappropriate messages sent to a 16-year-old, Elk City Police uncovered an alleged inappropriate relationship between a 23-year-old man and a 13-year-old girl. According to court records Gavin Chase Vermillion was arrested

2501020849_2286528

Couple Arrested for Alleged Child Neglect

Elk City, OK – A Carter couple, 39-year-old Tara Dyer and 43-year-old Matthew Dyer, are out on bond after being arrested on December 27, 2024, on allegations of enabling child neglect involving their 16-year-old son. Authorities report

2412181416_2722205

Shamrock Native Promoted to Texas Ranger

Matthew Ferguson of Shamrock, Texas has been promoted to the Texas Rangers Division. Previously serving as a Highway Patrol Sergeant in Pampa, Ferguson now becomes part of the Texas Department of Public Safety’s primary investigative branch. The

2412171425_1884957

Lucas Passed Over for Top House Financial Services Role

Oklahoma Congressman Frank Lucas of Cheyenne will not be the top Republican on the House Financial Services Committee, which oversees Wall Street, the Federal Reserve, and cryptocurrency. The committee’s decisions regarding banks and financial institutions have significant

2412101523_436725

Woodward Fatal Shooting Update

More details have been released surrounding the shooting deaths of a father and daughter in Woodward. Police say the suspect, 30-year-old Shane Cole Allison, knew the victims and admitted to planning the attack. The victims have been