Rep. Avery Frix (R-Muskogee) wants to increase monthly payments to retired teachers, firefighters, peace officers, judges and other state employees. Called a “cost of living adjustment,” a COLA for pensions would be authorized under Frix’s HB 2304, which advanced through committee Wednesday.
Feb. 25, 2019: Tulsa World editorial: Finally! Real budget growth at the state Capitol (Tulsa World)
The Oklahoma Legislature will have nearly $575 million more to spend in the next fiscal year than it had for this year.
After years of budget holes and failures, there’s no way that is not excellent news…
Feb. 20, 2019: Board of Equalization approves $8.2B for FY 2020 appropriations (OMES)
The Board of Equalization, chaired by Governor J. Kevin Stitt, on Wednesday certified $8,249,071,274 in revenues for FY 2020 appropriations, which is $574.5 million, or 7.5 percent, more than was appropriated for FY 2019.This amount is $37.8 million, or 0.5 percent, less than the December estimate.
All major tax categories . . .
Feb. 13, 2019: Oklahoma Tax Collections Up… But (Associated Press)
State finance officials say revenue collections to Oklahoma’s main state operating fund continue to outpace the official estimate, but they warn of a slowdown in coming months.
The Office of Management and Enterprise Services released figures on Tuesday that show General Revenue Fund collections in January totaled $714 million, which is nearly . . .
Feb. 4, 2019: Stitt budget would raise teacher pay, set aside one-third of surplus (Oklahoman)
Gov. Kevin Stitt’s first budget proposes spending $400 million in new money on education, criminal justice reform and other priorities, while setting aside $200 million from the projected surplus to pad the state savings account.
Stitt, whose budget will be presented on Monday as the Oklahoma Legislature begins a new session, offers more transparency . . .
Feb. 3, 2019: $612 million more for Oklahoma? Probably not, officials say as growth figures for state budget expected to drop (Tulsa World)
State officials expect fewer additional dollars than what was certified in December.
The Board of Equalization in December indicated the state would have $612 million more to spend in fiscal year 2020. The Board of Equalization will meet again later this month to take another look and certify what lawmakers will have to spend…
Feb. 4, 2019: What’s in the new governor’s first budget proposal? Flat agency appropriations, modest increase for education, money to savings (Tulsa World)
Gov. Kevin Stitt was not kidding when he told state lawmakers in December not to be quick to divvy up the $612 million in new revenue then projected for Fiscal Year 2020.
On Monday, Stitt proposed an FY 2020 budget that holds most agencies’ appropriations flat and puts $382.6 million into what amounts to savings…
Jan. 20, 2019: Stitt sets sights on budget, balancing spending versus saving (Oklahoman)
Gov. Kevin Stitt’s first week in office was largely focused on drafting the executive budget he will present to lawmakers next month, which is expected to use growing state tax collections for another teacher pay raise and to increase the state’s rainy day fund.
Lawmakers expect an additional $612 million in available funding next fiscal . . .
Dec. 27, 2018: Stitt tells lawmakers that a one-time revenue jump isn’t an excuse for a spending spree… or ‘tinkering with the tax code’ (Tulsa World)
Preliminary revenue numbers presented to the state’s top elected officials last week show the Legislature will have more money to spend next year than it is spending this year.
That’s great.
It means the Oklahoma economy is growing, the tax increases passed earlier this year to fund teacher pay increases are covering the needed costs and there . . .