Tag: Rainy Day fund

Too much of a good thing? Exceeding Rainy Day Fund cap would leave critical needs underfunded

Our healthy fiscal outlook provides a great opportunity to build on the progress made last year by making sizeable investments in critical needs that have long gone unmet. However, Governor Kevin Stitt, in his FY 2020 budget blueprint, suggested going in a different direction. The Governor’s approach would tilt the budget too heavily towards savings at the expense of key investments that are urgently needed to promote Oklahoma’s prosperity and well-being. [More...]

Update: Rainy Day Fund Basics

This is a revised and updated version of a page from OK Policy’s Online Budget Guide authored by Paul Shinn. [UPDATE: A previous version of this post incorrectly said that the maximum amount for the Rainy Day Fund is 15… Read more [More...]

How the Rainy Day formula requires us to make mistakes

Last Monday, State Finance Director Preston Doerflinger announced that the state would be depositing $219 million in the Constitutional Reserve Fund (commonly referred to as the “Rainy Day Fund”) this year. Seen alongside news that lawmakers had to overcome a… Read more [More...]

Quick Take: Rainy Day Fund basics

This is a revised and updated version of a page authored by Paul Shinn from OK Policy’s Online Budget Guide Oklahoma’s Rainy Day Fund helps protect against economic downturns. The Rainy Day Fund (formally known as the Constitutional Reserve Fund)… Read more [More...]

In The Know: July 14, 2011

In The Know is a daily synopsis of Oklahoma policy-related news and blogs. Inclusion of a story does not necessarily mean endorsement by the Oklahoma Policy Institute. E-mail your suggestions for In The Know items to gperry@okpolicy.org. You can sign… Read more [More...]

The 5 percent solution?

After two straight years of cuts, the state’s budget situation remains dire. Despite the economic recovery and improving revenue collections, the state faces a huge shortfall for next year. The substantial non-recurring revenues that were used to balance the budget… Read more [More...]

Hey Mikey! Raising the Rainy Day Fund cap is the one ballot measures everyone can like

Remember Mikey from those old cereal commercials? He was the picky eater whose siblings foisted a bowl of  Life cereal in front of him saying, “It’s supposed to be good for you. But he won’t eat it. He hates everything”.… Read more [More...]

These go up to 11: Sorting the State Questions on the November Ballot

Oklahoma voters have the great good fortune this November to decide the fate of no less than 11 proposed constitutional amendments on matters ranging from education funding and health care reform to judicial nominations and (we kid you not) Sharia… Read more [More...]

State revenue glass: Half-full or half-empty?

Treasurer Scott Meacham today announced that General Revenue (GR) collections for the first month of the new state fiscal year, FY ’11, came in 9.9 percent above the prior year and 11.9 percent above the official certified estimate. The sales… 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...]