State revenue forecasts: Looking backward

Last year at this time, OK Policy began a revenue forecasting project. Our efforts stemmed from the limitations of official revenue forecasting efforts, which are limited to two annual forecasts prepared for the Board of Equalization, issued in December and… Read more [More...]

Revenues: Despite improvements, next year’s die is cast… unless the Legislature acts

Today’s announcement of the monthly General Revenue collections brought incontestable good news: State revenue collections in March topped prior year collections for the first time since December 2008 and the official estimate for a second consecutive month, State Treasurer Scott… Read more [More...]

From the frying pan to the fire: As FY 10 budget battle re-erupts, the real hard work waits

Just when it looked as if the the extended negotiations over how to address FY ’10 budget shortfalls were finally resolved, a new wrinkle emerged this week.  As a means to protest the continued failure to find supplemental funds for… Read more [More...]

Budget deal (2): Social service agencies shut out of additional funding, again

For the second time in less than a month, the Governor and legislative leaders have announced an agreement on how to address the huge shortfalls in this year’s budget caused by declining revenue collections. This second agreement is not much… Read more [More...]

Revised revenue certification – budget gaps smaller but still perilous

This morning, the State Board of Equalization will meet to certify the revised FY ’11 revenue estimates (we’ve posted the certification packet to our website). The February certification is binding on the Legislature as it develops the FY ’11 budget… Read more [More...]

FY '10 Budget: Not a done deal?

Just before the start of the Legislative session, Governor Henry announced that he had reached an agreement with Speaker Benge and President Pro Tem Coffee on the FY ’10 budget.  Faced with projected mid-year revenue shortfalls of slightly more than… Read more [More...]

A first look at the Governor’s FY ’11 budget

In Monday’s State of the State address, Governor Henry laid out the broad parameters of his FY ’11 Executive budget. The Governor’s speech likened our current fiscal storm to the severe weather the state has faced recently and so often… Read more [More...]

FY '10 budget agreement leaves questions and challenges

In a press release Tuesday afternoon, Governor Brad Henry, Speaker Chris Benge and Senate Pro-Tem Glenn Coffee announced agreement on how to address the shortfalls in the FY ’10 budget that have resulted from this year’s revenues coming in sharply… Read more [More...]

August budget cuts by agency: not quite across-the-board

As a follow-up to our earlier post about the announced cuts to state agencies resulting from the shortfall in July revenue collections, we have prepared a spreadsheet that shows how much of a cut each agency will receive in dollar… Read more [More...]

New Revenue Numbers: The long climb back

As you’ve no doubt already heard, the worst fears about state revenue collections in the beginning of the new fiscal year were confirmed yesterday with the release of July General Revenue (GR) collections. The Treasurer’s office announced that July revenues… Read more [More...]