Oklahoma finance officials confirm revenue surplus likely

Ponca City Now - June 21, 2016 10:14 am

OKLAHOMA CITY (AP) – State finance officials are confirming cuts that were ordered to agency budgets in March likely were deeper than necessary and that Oklahoma will finish the fiscal year on June 30 with surplus revenue that could be reallocated back to agencies.

Secretary of Finance Preston Doerflinger declined Monday to speculate how much money will be left over until all revenue has been collected for the month of June.

Doerflinger discussed the potential surplus following a meeting of the State Board of Equalization, a panel led by Gov. Mary Fallin that determines each year how much revenue is available for the Legislature to spend.

The Office of Management and Enterprise Services reported Monday that Oklahoma currently has a surplus of $166 million, but that number is almost certain to decline.

 

Latest Stories

Oklahoma City Doctor Convicted for Stealing Drugs Faces up to 72 Years in Prison

OKLAHOMA CITY, OKLA (KOKH) — An Oklahoma City doctor has been convicted of up to 72 years...

LEBRON JAMES SELECTED AS TEAM USA MALE FLAGBEARER FOR PARIS OLYMPICS OPENING CEREMONY

LeBron James wasn’t totally sure what the opening ceremony was all about when he was picked for...

Lincoln County Sheriff’s Office seizes guns, thousands of marijuana plants in raid

LINCOLN COUNTY, OK (KOKH) — The Lincoln County Sheriff’s Office (LCSO) seized thousands of marijuana plants and...