“Oklahoma Gets $21M Boost to State’s Rainy Day Fund”

When state finance officials closed the fiscal year 2012 books on June 30, they found $21 million in unused funds from various agencies.


Secretary of Finance Preston Doerflinger says the additional revenue boosts the total amount of the constitutional reserve fund to $577.5 million, close to the pre-recession record level of $596 million.
Revenue in the fund can only be accessed when state collections fail to meet projected budgets and a revenue failure is declared, or if the governor and two-thirds of both legislative houses declare an emergency.

Read more at: newsok.com


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