Local & Regional
Tue December 20, 2011
Flat Budget Ahead
Oklahoma City, OK – Early fiscal estimate points to flat Okla. budget
OKLAHOMA CITY (AP) Early financial estimates suggest Oklahoma lawmakers will have about $6.5 billion available to spend on next year's budget, about the same amount they spent for the current fiscal year.
Figures released Monday by the Office of State Finance support warnings by state leaders for state agencies to prepare for a relatively flat budget and no major spending increases next year.
The revenue estimates are to be formally approved by the State Board of Equalization on Tuesday and will be used by Gov. Mary Fallin to prepare her executive budget. The final amount of revenue available for lawmakers to spend will then be approved in February.
Legislative leaders typically use the governor's executive budget as a starting point for negotiations on how to carve up the available revenue.