Board to certify state budget shortfall
Ponca City Now - February 17, 2015 7:35 am
A state board led by Gov. Mary Fallin is expected to certify that the Legislature will have more than $600 million less to spend on state programs in next year’s budget.
The State Board of Equalization is scheduled to meet Tuesday in Oklahoma City to formally certify the amount of revenue that is available for the Legislature to appropriate on the state budget for the fiscal year that begins July 1.
The Oklahoma Legislature appropriated about $7.2 billion on the budget for the current fiscal year. But the amount available for them to spend on next year’s budget is about $6.6 billion.
Fallin already had suggested legislators tap state agency revolving funds and the state’s Rainy Day Fund to help ease the budget cuts for state agencies.