By M. Scott Carter
The Journal Record
Posted: 09:30 PM Tuesday, February 22, 2011
OKLAHOMA CITY – Oklahoma lawmakers will have $106.4 million more to spend this year, after the state Board of Equalization certified new revenue estimates for fiscal year 2012.
Meeting at the state Capitol for the first time Tuesday afternoon, the new board – Gov. Mary Fallin, Lt. Gov. Todd Lamb, Auditor and Inspector Gary Jones, state Treasurer Ken Miller, school Superintendent Janet Barresi, Attorney General Scott Pruitt and Agriculture Secretary Jim Reese – voted unanimously to certify $5.025 billion in funds available for appropriations.
That figure, Office of State Finance Director Preston Doerflinger said, was 95 percent of the $5.289 billion in
revenue certified by the board. Oklahoma’s constitution prevents lawmakers from spending the entire amount of certified revenue, limiting available funds to 95 percent.
Doerflinger said the revenue increase also would allow lawmakers to deposit about $71 million in the state’s rainy day fund.
Fallin said the increase in revenue will reduce the state’s budget shortfall to about $500 million... FULL ARTICLE
Posted on
Tue, February 22, 2011
by John Cox