Low natural gas prices are a worry, but they shouldn’t lead to a state budget hole, says Secretary of Finance Preston Doerflinger. “In fact, we’re expecting to end this fiscal year with a surplus that could exceed $300 million,” he said in a statement. Why? Mostly because of oil. “”We’ve seen record sales tax collections [...]
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 [...]
The AP with the synopsis: State finance officials said a boom in Oklahoma’s oil patch is helping to boost general revenue collections more than 20 percent over the same time last 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.
The state’s general revenue fund is growing, State Finance Director Preston Doerflinger said in a statement released Tuesday. The Tulsa World’s Randy Krehbiel on the basics: Deposits to the fund, the source for most legislative appropriations, totaled $408.1 million for October, a 6.3 percent increase over the same month a year ago and 2.3 percent [...]
The tax credit task force is winding down. On Wednesday, the panel discussed its final report and the criteria by which it would evaluate tax credits and economic incentives, which are estimated to cost the state between $250 million and $500 million in revenue each year. State Rep. David Dank, who co-chairs the Task Force [...]
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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