Topic: Budget Trends

Recent revenue measures have helped Oklahoma’s long-term budget outlook but the work isn’t done

A new research brief prepared by Dr. Kent Olson, Professor of Economics Emeritus at Oklahoma State University, examines the effect that passage of HB 1010xx and other recent revenue measures will have on the state's long-term fiscal outlook. He finds that these revenue measures reduce the state's budget shortfalls over the next decade, but a significant and growing funding gap will remain in the absence of new revenues. [More...]

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...]

Report: Despite gains from teacher walkout, Oklahoma school funding is still way down

For the past five years Oklahoma has led the nation for the largest per-pupil cuts to education funding since the Great Recession, according to an annual report from the Center on Budget and Policy Priorities (CBPP). This year's report, released today, finds that Oklahoma has finally moved out of the bottom spot in per pupil formula funding cuts thanks to last year’s teacher pay raise funded by the Legislature on the eve of the statewide teacher walkout. However, despite these gains, Oklahoma remains well below pre-Recession levels in per-pupil funding and still has cut more than any state other than Texas. [More...]

2019 Priority: Protect Oklahoma’s revenue base

Download this fact sheet as a printable pdf here. Read about the rest of OK Policy’s 2019 Legislative Policy Priorities here. Oklahomans look to our state government to fund a wide range of critical investments – schools, roads and bridges,… Read more [More...]

Budget outlook offers opportunities, but challenges remain

After a decade of ongoing shortfalls and repeated cuts to core services, Oklahoma’s finances are finally in recovery. Revenues are growing and lawmakers are expected to have substantially more money for next year’s budget, according to initial projections that were… Read more [More...]

The state budget is growing but is not fully recovered

As Oklahoma heads into a new budget year and closes the books on FY 2018, two things are especially clear: Oklahoma’s fiscal situation is much improved, but we still have a long ways to go to recover from a decade… Read more [More...]

FY 2019 Budget Highlights

[Download this report as a PDF.] The FY 2019 budget increases funding significantly from recent years. State agencies will be appropriated a total of $7.567 billion in FY 2019. This is an increase of $718.5 million (10.5 percent) compared to… Read more [More...]

The FY 2019 Budget: Been down so long this looks like up

In the 1960s, the New York City poet and folksinger Richard Fariña published a novel titled “Been Down So Long It Looks Like Up To Me.” This title certainly applies to Oklahoma’s FY 2019 state budget, approved by the House… Read more [More...]

Unheralded law puts increased funding in doubt

Lawmakers this year have approved over half a billion in new taxes to pay for a package of spending measures, including increased pay for teachers, support staff, and state workers, and increased operating support for schools. While the new obligations… Read more [More...]

Life after Step Up?

Earlier this month, HB 1033xx, the main revenue measure based on proposals from the Step Up Oklahoma coalition, failed to gain the three-quarters support in the House needed to pass a revenue bill. Unlike a similar measure that failed in… Read more [More...]