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All Posts Tagged Tag: ‘Preston Doerflinger’

March general revenue drops more than 9 percent below estimate (access required)

March collections to the General Revenue Fund amounted to $412.8 million, which is 0.3 percent less than last March and 9.1 percent below the official estimate used to establish the state budget, according to data from the Office of Management and Enterprise Services.\

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Year-to-date general revenue collections now 4.8 percent below official estimate (access required)

Tax collections for the General Revenue Fund were 8.1 percent below projections in February and are 4.8 percent less than projections for the fiscal year to date, state finance Secretary Preston Doerflinger said Tuesday.

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New certification indicates wider revenue gap for FY 2015, but officials doubt bottom-line number’s accuracy (access required)

Looking at the revenue figures certified Tuesday by the State Equalization Board, it appears the legislature will have even less to spend this session than was estimated in December—a gap of $188.5 million rather than $170 million—or 2.6 percent below the current year.

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YTD general revenue collections 4.5 percent below projections, 0.2 percent below prior fiscal year (access required)

General Revenue Fund collections for the first seven months of FY 2014 were 4.5 percent below the official estimate and 0.2 percent below the same period the previous fiscal year, state Finance Secretary Preston Doerflinger said Tuesday.

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Doerflinger outlines details of Fallin budget plan (access required)

Gov. Mary Fallin’s budget plan for FY 2015 provides less than what most agencies want, but it manages to balance the state budget and increase funding for schools and human services while reducing the state income tax, says state finance Secretary Preston Doerflinger.

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Fallin, Shannon differ on budget ideas (access required)

NOTE: Because I moderated this morning’s panels and question/answer sessions at the OPI summit, I could not report and write an article on it for today. Below is the Associated Press story from the event.  SEAN MURPHY, Associated Press  OKLAHOMA CITY (AP) — Gov. Mary Fallin and House Speaker T.W. Shannon differ on how to tackle several major budget issues, including the …

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General revenue down for first half of FY 2014 as state officials prepare for tight budget situation this coming session (access required)

Collections in the General Revenue Fund for the first six months of FY 2014 totaled more than $2.6 billion—but that was 1.5 percent less than the same period the prior year and 6.7 percent below the official estimate used to calculate the state budget, finance officials reported Tuesday.

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Shannon, some other Republicans on opposite sides of continuing horizontal drilling tax break (access required)

House Speaker T.W. Shannon may find himself taking on officials from his own party this coming session on a couple of issues, including whether to continue a tax break for horizontal drilling that some say is not only costly to the state, but no longer necessary.

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Court’s striking of tax-cut/Capitol repair measure puts more money on appropriations table, but not enough to forestall predicted revenue drop (access required)

When it meets tomorrow, the State Equalization Board will be asked to do something fairly uncommon—adjust its certification of revenue available for appropriation for FY 2015 because of the Oklahoma Supreme Court’s recent decision holding unconstitutional a new law that reduced the state income tax and set aside money to repair the aging Capitol building.

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Equalization Board to make first FY 2015 revenue certification on Thursday; tight budget picture expected (access required)

State officials have been warning agencies for months not to expect major budget increases for the upcoming fiscal year. They will find out just how constricted FY 2015 funding numbers may be on Thursday, when the State Equalization Board makes its first estimate of revenue available for appropriation during the 2014 legislative session.

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