As we move into the end of the new fiscal year's first quarter, there are signs that the state’s economy is continuing to improve. We'll have a good idea after the next collection cycle if the trend toward improving collections will be sustained.
As we move into the end of the new fiscal year's first quarter, there are signs that the state’s economy is continuing to improve. We'll have a good idea after the next collection cycle if the trend toward improving collections will be sustained. The current growth does appear to be fueled by the continued increase in gross income and sales tax collections. If Oklahoma maintains its current track, there should not be an issue with funding state aid revenues.
One important point to remember is that the growth curve will rise substantially over the next few months once the tax increase collections are reflected in state growth. Doing a year-to-year comparison will probably not be adequate to evaluate revenue collections' conditions. If a district does receive gross production, remember that the increased tax rate will cause an artificial rise in revenue.
One budget area that is a constant concern is being cognizant of the number of students and their net value in the state aid calculation. If you need assistance in calculating any changes due to population increases or increases in various factors, we can help. We do have several different tools that can help with previous numbers' comparisons. It is important to review both ADM and ADA numbers and monitor growth or loss to determine eventual effects on budgets. Below are the state’s trends for the last few years to give you a comparison basis for your district:
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