Oklahoma finance officials warn more agency cuts may come
The Associated Press - April 12, 2017 10:16 am
OKLAHOMA CITY (AP) – Oklahoma finance officials say declining revenue collections are forcing them to make withdrawals from various funds to make agency allocations this month and are warning state agencies that further budget cuts may be ordered.
Oklahoma’s Secretary of Finance Preston Doerflinger released budget figures Tuesday that show collections to the state’s main operating fund in March were 9 percent below the official estimate.
Doerflinger has faced criticism from some lawmakers for depleting the state’s Rainy Day Fund in order to maintain state agency funding. Doerflinger maintains he has the legal authority to do so and that the depleted funds will be replenished before the end of the fiscal year.
But he is warning agencies that if fourth quarter revenues continue to decline, he may be forced to order deeper cuts.