Income tax and sales tax collections are up, and lawmakers will have about $43 million more to appropriate this year. That’s good news for an upcoming fiscal year with an estimated $100 million hole. But energy industry estimates were too generous. Natural gas prices are down, and anticipated revenues from gross production taxes have been [...]
Republicanconference / Flickr The revenue estimates have been officially certified by the Board of Equalization: Gov. Mary Fallin has $6.5 billion to budget for FY 2013. Oklahoma has about $120 million more than it did last year, but lawmakers are still staring into a $150 million budget hole. Last year, lawmakers patched a $500 million [...]
Oklahoma’s revenues are up, and Office of State Finance officials expect lawmakers will have more state funds to appropriate next year. The latest estimate is that Oklahoma will have about $6.5 billion available for appropriation next fiscal year, and that the state revenue collections will be about $400 million more than they were a year [...]
Tax collections are above projections, but next year’s state budget is looking flat. From the Associated Press: “It’s still a little early … but my message is that I think we’re dealing with a flat budget,” Preston Doerflinger, director of the Office of State Finance, said.
eCapitol News reports: Lawmakers could have more money to spend during the 2012 legislative session if Oklahoma’s General Revenue Fund collections follow the trend of the past 10 years, the Office of State Finance reported. The OSF released its State Budget Outlook Multi-Year Trend Analysis last week, which analyzes major sources of tax revenues for [...]
Joe Raedle / Getty Images Fiscal year 2012 is barely underway, but lawmakers are already hard at work outlining the 2013 budget. The process starts with agencies and analysis: What funding do specific departments need, and how much money does the state have to dole out? Six official architects are tasked with building the framework [...]
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