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Stitt anticipates tapping Rainy Day Fund as possible revenue shortfall looms

Stitt anticipates tapping Rainy Day Fund as possible revenue shortfall looms

Oklahoma.com
by CARMEN FORMAN
Updated: Fri, March 20, 2020 1:17 AM

The COVID-19 outbreak could have a profound effect on Oklahoma’s state budget.

Gov. Kevin Stitt said Wednesday the state could face a revenue shortfall in the current budget year due to the widespread economic impacts of the public health crisis.

Stitt said he plans to dip into the state’s Rainy Day Fund, which is at an all-time high, to offset the possible revenue shortfall this year and help balance the fiscal year 2021 budget.

While participating in a question-and-answer session with Oklahoma State Medical Association President Larry Bookman, Stitt was asked what economic impact the outbreak will have on Oklahoma... FULL ARTICLE

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