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10:32 am
Tue July 14, 2009

Coffee Responds to Dollar Shortfall

Oklahoma City, OK – STATEMENT FROM SENATE PRESIDENT PRO TEM GLENN COFFEE ON STATE REVENUE FIGURES

"The revenue figures announced today by the Treasurer's office are disappointing but probably not surprising, based on the national economic downturn in which we are operating.

"The good news is, we have the benefit of a conservative budgeting system that forces us to live within our resources, allowing us to avoid huge budget deficits. Further, during the budget process last session, we anticipated further declines in revenue and wisely, I think, chose not to spend all of the stimulus money at one time. We will now be able to carry some of those funds over into the next budget year.

"Another positive aspect is that we have been very conservative in not invading the Rainy Day fund despite pleas by some to do so.

"Strategic budget reductions were made beginning last year, and all agencies of government should begin making reductions as soon as possible to prevent drastic consequences later in the year if deeper cuts are requi