Despite some economic growth and increased revenue from new laws passed this year, Oklahoma finance officials project lawmakers will still face a budget hole next year because of how much non-recurring revenue was used this year.
The Board of Equalization led by Gov. Mary Fallin certified on Wednesday that lawmakers will have about $5.7 billion available to spend on next year's budget. But finance officials warned the state's budget picture is still hazy because the Legislature hasn't finalized the current year's state budget.
Shelly Paulk with the Office of Management and Enterprise Services told the board that lawmakers used more than $500 million in one-time revenue sources, like agency savings accounts and the state's constitutional Rainy Day Fund.
Fallin is urging the Legislature to increase some recurring sources of revenue.