Public Information Officer
(405) 521-3097 John.Estus@omes.ok.gov
State of Oklahoma
|PRESTON L. DOERFLINGER
Director and Secretary
of Finance and Revenue
Tuesday, Feb. 19, 2013
For Immediate Release
OKLAHOMA CITY – Revenue figures approved Tuesday by the state Board of Equalization showed an additional $34 million available for appropriation for Fiscal Year 2014 than was used in Gov. Mary Fallin's executive budget proposal.
In all, an extra $212.6 million in growth revenue is available for FY-2014 appropriations than was appropriated for FY-2013, the current fiscal year ending June 30, according to figures approved by the seven-member board, which is chaired by the governor. The board approved revenues for appropriation topping $7 billion for FY-2014.
Secretary of Finance and Revenue Preston L. Doerflinger issued the following statement:
"Three years of impressive economic expansion have Oklahoma back at pre-recession revenue strength. That growth has generated $34 million more for appropriations than we used to build the governor's proposed budget. Our priority now is to begin immediate work with the Legislature to set an honest state budget that uses these growth revenues to reduce income taxes and boost funding for core services like education and other priorities. Today's picture is bright, but the looming federal sequester is anything but. There is no doubt it could hit our defense sector hard. Oklahoma's best path forward is to continue emphasizing fiscal restraint and enacting policies that spur the type of impressive economic expansion enjoyed for these past three years."
Doerflinger is director of the Office of Management and Enterprise Services, which prepares the revenue estimates the Board of Equalization certifies each year. Highlights of Tuesday's revenue certification include: