Officials reach deal on state budget

OKLAHOMA CITY (AP) – Republican leaders in the Oklahoma House and Senate have reached agreement with Gov. Mary Fallin on a roughly $7.1 billion budget for the upcoming fiscal year that will be slightly less than the current year’s budget.

By taking funds from the state’s Rainy Day Fund, Unclaimed Property Fund and agency revolving accounts, House Speaker Jeffrey Hickman said Tuesday that budget writers managed to close nearly the entire $611 million shortfall in this year’s budget.

Funding for public schools remains flat at about $2.5 billion, and the state Department of Health was also unharmed. Colleges and universities will be cut by about 2.4 percent.

While many state agencies will receive cuts of around 7 percent, the Oklahoma Health Care Authority and Department of Corrections both will get modest increases.