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Oklahoma Gov. Brad Henry wants to use most of Rainy Day Fund

Oklahoma Gov. Brad Henry wants to use most of Rainy Day Fund

Oklahoma Gov. Brad Henry wants to use most of Rainy Day Fund
HENRY SAYS $485M WOULD OFFSET PROJECTED BUDGET SHORTFALLS

BY MICHAEL MCNUTT, NewsOK

Published: February 13, 2010

Gov. Brad Henry on Friday defended his proposal to spend most of the state’s savings account to help make up a revenue shortfall in the current fiscal year. He said it shouldn’t derail a budget agreement with Republican legislative leaders who say the amount is too high.

The governor wants to use about 80 percent, or about $485 million, of the nearly $600 million in the Rainy Day Fund for the 2010 fiscal year.

All conditions have been met so that all the money in the state’s savings account can be used to help offset this fiscal year’s revenue shortfall, he said.

Not all the conditions will be met in the upcoming 2011 fiscal year... FULL ARTICLE

 


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