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OKLAHOMA

Oklahoma

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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.

       

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      Oklahoma Council
      of Public Affairs
    • 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 Lawmaker’s 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 Broken—Let 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.”