Bloomberg Businessweek
The Associated Press
December 20, 2011, 4:45PM ET
By SEAN MURPHY
State leaders expressed cautious optimism Tuesday about Oklahoma's recovery from the recession, as they certified preliminary revenue figures that show lawmakers will have an estimated $6.5 billion to spend on next year's budget.
The amount certified by the Board of Equalization is roughly the same amount that the Legislature spent last year, although a shortfall of approximately $150 million is predicted for the upcoming fiscal year because of the loss of one-time revenue.
"We're very encouraged that our economy is growing. It's moving in the right direction," said Gov. Mary Fallin, who chairs the seven-member board. "But we also know that with one-time funds that will not be available that we've had the previous couple of years ... we still need to be optimistically cautious about the amount of money that we will have." FULL ARTICLE
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Tue, December 20, 2011
by John Cox