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    • Headlines

      Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • Headlines

      States with budget surpluses may not really be in the black

      State Budget Solutions | by Joe Luppino-Esposito | July 17, 2014

      State Budget Solutions tracks the claimed surpluses of state budgets and explains why there is more than meets the eye.

    • Headlines : Illinois, Indiana, Maine , Massachusetts , Michigan, New Jersey, North Carolina , Oklahoma

      Special Edition Williams Report July 2, 2014

      State Budget Solutions | by Bob Williams | July 2, 2014

      Welcome to a special edition of the Williams Report! There has been a lot of news this week: an important U.S.Supreme Court decision on unions and the end of the fiscal year in many states have been in the headlines. Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • Headlines : Oklahoma, North Carolina , South Carolina, Indiana

      Common Core is taking a permanent summer vacation in several states

      State Budget Solutions | by Hannah Oh | June 9, 2014

      Multiple state efforts to repeal the Common Core State Standards (CCSS) have culminated in success in recent weeks. 

    • Headlines : Oklahoma

      Oklahoma governor signs $7.1B state budget bill, dozens more

      NewsOK.com | by Sean Murphy | June 4, 2014

      Pay raises are on the way for more than 12,000 state workers such as prison guards and nurses, but most state agencies will face budget cuts of more than 5 percent under a budget bill signed Tuesday by Oklahoma Gov. Mary Fallin.

    • Headlines : Oklahoma

      Leaders express tempered enthusiasm for watered-down pension reform

      The City Sentinel | by Patrick B. McGuigan | June 2, 2014

      With unfunded liabilities on government pensions somewhere between $11.5 billion and $44.1 billion, the Legislature watered down and passed a bill that took small steps at reform.

    • Headlines : Oklahoma

      Oklahoma House approves $7.1 billion state budget bill

      NewsOK.com | by Randy Ellis | May 23, 2014

      The state House of Representatives on Thursday approved a $7.1 billion state appropriations bill that allocates about $80 million in new revenue for common education and $37.1 million for pay raises to some of the state's must underpaid state employees.

    • Headlines

      States Push Annual Park Passes to Raise Revenue

      Stateline | by Sandy Johnson | May 23, 2014

      As the Memorial Day holiday opens the 2014 summer vacation season, state parks have had to get creative about ways to raise money because budget officers are being chintzier with tax revenue.

    • Headlines : Oklahoma

      Oklahoma Senate approves $7.1B state budget bill

      Businessweek | by Sean Murphy | May 21, 2014

      The bill would appropriate about $102 million less than the current budget, but would still boost funding for public schools by $80 million.

    • Headlines

      Revenues in half the states still haven't recovered

      The Washington Post | by Niraj Chokshi | May 20, 2014

      In 26 states, revenues today are lower than they were at their early-recession peak, according to a new Pew analysis.


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    • Budget timeline: Annual 

      Fiscal Year starts: July 1

      The current state budget can be found here.

      Find the legislative session calendar here.

      Find the current legislative leaders here.

       

      Ok Gov Mary FallinGov. Mary Fallin
      Office of Governor Mary Fallin
      State Capitol Building
      2300 Lincoln Blvd., Suite 212
      Oklahoma City, OK 73105
      Phone: (405) 521-2342
      Fax: (405) 521-3353

       

       

       

      Preston Doerflinger, Director
      Office of State Finance
      2300 N. Lincoln, Room 122
      State Capitol Building
      Oklahoma City, OK 73105-4801
      Phone (405) 521-2141
      Fax: (405) 521-3902
      http://www.osf.state.ok.us/

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2011 Comprehensive Annual Financial Report compiled by the state government, and click here for information on the state's pension liabilities.   

       

      Oklahoma is required to pass a "balanced budget."  62 Okl. St.  § 41.33 requires a budget message outlining the fiscal policy of the State for the biennium and describing the important features of the budget plan.  This plan provides a summary of the budget setting forth aggregate figures of proposed revenues and expenditures and the balanced relations between the proposed revenues and expenditures and the total expected income and other means of financing the budget compared with the corresponding figures for the preceding biennium.  Additionally, Article 10, Section 23 of the Constitution sets regulations "to ensure a balanced annual budget".  The Oklahoma Budgetary Comparison Schedules within its annual report indicated the State ran budget deficits (negative net transactions) for each of the years studied.  State law forbids the carrying over of a deficit from one year to the next.

       

      The Oklahoma Constitution limits appropriations to the appropriations limit from the previous year, adjusted for inflation and the change in population.  This is commonly called "budgeting for fiscal discipline," and is a way to keep the growth of appropriations from outpacing the growth in revenues from year to year.

       

      The State has four governmental funds: the General Fund, the Commissioners of the Land Office Permanent Fund, the Department of Wildlife Conservation Permanent Fund, and the Tobacco Settlement Endowment Permanent Fund.  The State's annual budget is prepared on the cash basis utilizing encumbrance accounting.  Only the General Fund is budgeted.  Although information on the Budgetary Comparison Schedules is presented neatly and efficiently, actual and budget figures are hardly in sync since only one fund is budgeted.  [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

      OCPA logo

      Oklahoma Council
      of Public Affairs
    • Pensions :

    • HEADLINES

      Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • HEADLINES: Illinois, Indiana, Maine , Massachusetts , Michigan, New Jersey, North Carolina , Oklahoma

      Special Edition Williams Report July 2, 2014

      State Budget Solutions | by Bob Williams | July 2, 2014

      Welcome to a special edition of the Williams Report! There has been a lot of news this week: an important U.S.Supreme Court decision on unions and the end of the fiscal year in many states have been in the headlines. Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • View All Oklahoma articles
    • Unions :

    • HEADLINES: Illinois, Indiana, Maine , Massachusetts , Michigan, New Jersey, North Carolina , Oklahoma

      Special Edition Williams Report July 2, 2014

      State Budget Solutions | by Bob Williams | July 2, 2014

      Welcome to a special edition of the Williams Report! There has been a lot of news this week: an important U.S.Supreme Court decision on unions and the end of the fiscal year in many states have been in the headlines. Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • HEADLINES

      Some state pensions in dire straits

      USA Today | by Dustin Racioppi | March 21, 2014

      Not making payments to the pension funds, or only paying a portion of what an actuary has recommended, is largely what got these debt-burdened states to where they are today, experts say.

    • View All Oklahoma articles
    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.

    • Solutions

      The Case for Reform: Adult Probation

      Right on Crime | August 1, 2012
    • Solutions

      Solutions to the public pension crisis

      State Budget Solutions | by Bob Williams | August 1, 2012

      Public pensions at the state and municipal levels are unsustainable in their current form.  State Budget Solutions' recent study by Andrew Biggs found that public pensions are underfunded by $4.6 trilion. Here we offer solutions to the pension crisis

    • Solutions: Oklahoma, Indiana

      Ten Budget Reforms for 2012

      Oklahoma Council of Public Affairs | by Jonathan Small | August 4, 2011

      Establish limited priorities for Oklahoma’s state government. Once limited priorities are set, everything else should be considered according to these priorities. The state currently has hundreds of agencies, boards, and commissions; it’s no wonder there is chronic overspending and regular “revenue shortfalls.”

    • Williams Report - July 21, 2014

      State Budget Solutions | by Bob Williams | July 21, 2014

      The Williams Report is BACK after a one week hiatus. Be honest, you missed it! Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob. 

    • Illinois, Indiana, Maine , Massachusetts , Michigan, New Jersey, North Carolina , Oklahoma

      Special Edition Williams Report July 2, 2014

      State Budget Solutions | by Bob Williams | July 2, 2014

      Welcome to a special edition of the Williams Report! There has been a lot of news this week: an important U.S.Supreme Court decision on unions and the end of the fiscal year in many states have been in the headlines. Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • Oklahoma

      Leaders express tempered enthusiasm for watered-down pension reform

      The City Sentinel | by Patrick B. McGuigan | June 2, 2014

      With unfunded liabilities on government pensions somewhere between $11.5 billion and $44.1 billion, the Legislature watered down and passed a bill that took small steps at reform.

    • Fitch: State pension plans' funding climbs in 2013 despite low contributions

      Pensions & Investments | by Rob Kozlowski | May 15, 2014

      While the funding ratios of U.S. state defined benefit pension plans improved in fiscal year 2013, significant challenges remain, according to a Fitch Ratings report.

    • Richard Ravitch: State fiscal crises aren't over

      Newsday | by Michael Gormley | April 25, 2014

      Former Lt. Gov. Richard Ravitch, who helped New York City escape bankruptcy 40 years ago, warned Wednesday that the fiscal crisis isn't over in New York and other states, despite election year plans to cut taxes and spend more.

    • Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Oklahoma

      Oklahoma pension problems: $823 million annual debt, or $3.4 billion in savings after 30 years?

      Capitol Beat OK | by Patrick McGuigan | April 7, 2014

      Edging toward final approval at the state Capitol is a proposal that would shift the Sooner State's largest government pension plan (the Oklahoma Public Employees Retirement System, or OPERS) away from the billions it faces in unfunded liabilities for the "defined benefit" pensions most public employees now receive.

    • Pew's latest pension report understates unfunded liabilities, but still shows growing pension problem

      by Cory Eucalitto | April 4, 2014

      While Pew's report relies directly on state-reported numbers that understate the size of unfunded liabilities, it nonetheless shows tremendous growth in unfunded liabilities since 2008.

    • U.S. public pension gap widened to nearly $1 trillion in fiscal year 2012

      Reuters | by Robin Respaut | April 2, 2014

      The unfunded liabilities of public-employee pension plans rose by 10 percent in fiscal 2012 to a record $914 billion, hit by low investment returns, missed contributions and unfunded benefits, underscoring the pension funding crisis in U.S. states and cities, a report by the Pew Charitable Trusts said.

    • Some state pensions in dire straits

      USA Today | by Dustin Racioppi | March 21, 2014

      Not making payments to the pension funds, or only paying a portion of what an actuary has recommended, is largely what got these debt-burdened states to where they are today, experts say.


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