[Cobo] Follow Up to COBO

[Mauck, Sheri]

Please find the critical occupations list attached and the bullets below for the collections update for January.

Revenue Outlook - January 2022


  *   Current General Revenue collections, through January 2022 continue to trend above the monthly estimates.



     *   January general revenue collections were 29.0%, or $199.2 million above the monthly estimate.
     *   The total general revenue collections through January 2022 are 21.1% above the estimate which equates to $808.8 million in recurring revenue through January 2022.
     *   The corporate income tax revenue has met the five-year average, therefore, 25% of the excess has been deposited into the Constitutional Reserve (Rainy Day Fund) with the first deposit for FY22 in an amount of $10.2 million.



  *   Individual Income Tax Collections and corporate taxes posted a net $79.7 million increase (24.7%) above the January estimates.



  *   Sales tax collections were up $33.5 million (17.9%) above the estimate for the month, and $149.8 million or 17.0% above the estimate for first seven months for the fiscal year.



  *   Gross Production Collections were up $67.2 million, or 140.8% above estimates driven by high oil prices at $91/per barrel at the end January.


Please let me know if you have any questions. Thank you.

Sheri Mauck
smauck at osrhe.edu
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