Next Year’s Best-Case Budget Scenario is ‘Flat’

• Joe Wertz
  BioRecent Stories

  

  Joe Wertz was a reporter and managing editor for StateImpact Oklahoma from 2011-2019. He reported on energy and environment issues for national NPR audiences and other national outlets. He previously worked as a managing editor, assistant editor and staff reporter at several major Oklahoma newspapers and studied journalism at the University of Central Oklahoma.

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 budget gap with one-time funds that aren’t available this year.

[module align=”left” width=”half” type=”pull-quote”]

“Tax revenues are increasing as Oklahoma’s economy continues its rebound from the national recession. That’s the good news … the bottom line is that next year’s budget will be flat at best.”

-Gov. Mary Fallin, in a statement

[/module]

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 budget gap with one-time funds that aren’t available this year.

State finance officials hope the revenue growth continues into February, when the board will meet again to certify the final amount of funds available for legislators to appropriate.