Thursday, January 7, 2016
From Revenue Failure to Right-To-Farm: StateImpact Oklahoma Covers 2016
The ground beneath Oklahoma is shaking, figuratively and literally in 2016, and StateImpact is on it.
EXPLAINER | Oklahoma State Budget
14 stories Oklahoma State Budget
Oklahoma Office of State Finance (OSF), Oklahoma Tax Commission (OTC), the Office of the Oklahoma State Treasurer, and the Office of the Oklahoma State Auditor and Inspector.
Feb 7 – Session starts
Step 1 – Agencies Submit Budget Request (Oct-Dec)
The Oklahoma budget cycle begins on the agency level. Agencies determine what their financial needs are for the following fiscal year and file a formal Budget Request with the Office of State Finance by Oct. 1
Step 2 – Request Review by Office of State Finance
The OSF reviews each Budget Request and, with the Governor’s office, makes recommendations to the agency.
Step 3 – Funding Estimation Starts (Dec 24-Jan 1)
The State Board of Equalization determines the amount of funding available for appropriation.
Step 4 – Governor Submits Budget (Due Feb 6)
Taking into account the OSF review of agency Budget Requests, the Governor’s must submit a balanced budget to the state legislature.
Step 5 – Funding Estimation Certified
Step 6 – House and Senate Appropriations Committees Begin Review of Agency Budget Requests (Feb-Apr)
Step 7 – Appropriations Committees Set Agency Budgets and Pass Appropriations Bills
Step 8 – Governor Considers Bills (May-June)
Step 9 – Governor Signs Bills
Office of State Finance
Oklahoma Tax Commission
Oklahoma State Treasurer
Oklahoma State Auditor and Inspector
Oklahoma State Board of Equalization
Timeline:
Oct. 1 – Agency submits Budget Request
How the cycle works:
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