ItWasMeantToBe19
Banned
Oklahoma trying to beat South Carolina to "we're the next Kansas"
Being a petrol state is bad, mmkay, people.
http://kfor.com/2016/03/03/oklahoma...udget-cuts-to-make-up-additional-235-million/
OKLAHOMA CITY While the state is facing a major budget deficit, state leaders say things are only getting worse.
Last month, Oklahoma officials announced that the state is confronted with a $1.3 billion shortfall, nearly 20 percent of last years spending.
On Thursday, State Treasurer Ken Miller announced that Februarys revenue is down by almost $90 million compared to last years numbers, or more than 10 percent.
In February, the state received $758.5 million in gross receipts, making it the lowest February total since 2011 when Oklahoma was recovering from the recession.
With oil prices off their 2014 peak by some 70 percent and our states anchor industry in the midst of correction, we have apparently not yet found the bottom and continue to see the spillover effect in all major revenue streams, Miller said.
During her State of the State address last month, Gov. Fallin said that many agencies and departments will see a 3 percent cut to try to make ends meet.
However, it seems deeper cuts are necessary.
On Thursday, state officials announced that agencies will be facing additional budget cuts.
State finance officials told the Associated Press that Oklahoma schools, prisons and other state agencies will have their budgets cut by an additional four percent for the rest of the year.
Those additional cuts are expected to equal close to $235 million.
Public schools alone will have nearly $110 million cut from their budget for the fiscal year that ends June 30.
According to state documents, the Department of Corrections is facing a $27.5 million cut and the Health Care Authority will lose $63.8 million in funding.
The Department of Human Services will also lose $43.7 million, while the Department of Mental Health loses $22.7 million from its budget.
Being a petrol state is bad, mmkay, people.
http://kfor.com/2016/03/03/oklahoma...udget-cuts-to-make-up-additional-235-million/