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Oklahoma lawmakers hope budget projections come true

Oklahoma lawmakers hope budget projections come true

To build a budget during remarkably tough times, Oklahoma lawmakers and the governor turned to "revenue enhancements” to make ends meet. If those generate less than expected, the state faces troubles.

NewsOK
BY SEAN MURPHY
Published: June 1, 2010
Modified: May 31, 2010 at 9:56 pm

Facing an unprecedented budget shortfall of $1.2 billion, state leaders used a variety of tactics to close the gap — slashing state programs, raising fees and scaling back several tax incentives.

But now that the 2010 legislative session has ended, some fear the state budget for future years could be in even more dire straits if projected revenue-enhancing measures approved in the waning days of the session don't meet expectations.

"If any one of these things doesn't produce in the manner we hope it does, we're going to be in really tough shape,” said state Rep. Ryan Kiesel, D-Seminole. "I think we could have done much better in terms of putting together a budget.”

Lawmakers used about $500 million remaining in federal stimulus money and $277 million in cash reserves for the fiscal year that begins July 1, leaving only about $100 million in savings for next year... FULL ARTICLE

 

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