BOE approves $6.9B for appropriations


For Immediate Release

Director and Secretary
of Finance, Administration and Information Technology


State of Oklahoma
Office of Management and Enterprise Services

Feb. 18, 2014

BOE approves $6.9B for appropriations

Revenues represent 2.6% reduction from current fiscal year

OKLAHOMA CITY — Revenue figures approved Tuesday by the state Board of Equalization showed $17.7 million less available for appropriations for Fiscal Year 2015 than was available for the governor’s executive budget proposal.

The seven-member board, chaired by Gov. Mary Fallin, approved $6,940,352,735 in revenues available for discretionary appropriations for FY 15, which is $188.5 million or 2.6 percent less than was appropriated for FY 14, the current fiscal year ending June 30.

All major tax categories showed growth between the board’s December meeting and its February meeting except corporate income tax, which fell $45.7 million or 10.9 percent. The decrease in revenues available for appropriations was caused by the corporate income tax decline and the ongoing trend of less revenue reaching the General Revenue Fund for discretionary appropriations despite gross tax receipts to the state treasury reaching all-time highs.

Secretary of Finance, Administration and Information Technology Preston L. Doerflinger issued the following statement:

“It’s a classic ‘only-in-government’ paradox to collect more money than ever but have less to spend. The silver lining is this year’s decrease has nothing to do with the economy, which is still strong in the state and improving nationally. The decrease was caused by various general revenue diversions and anomalies in the always volatile corporate income tax area.”

Doerflinger added: "There is no rule that government spending has to increase every year, and this year it clearly won’t. We’re basically back at FY 13 discretionary spending levels, which is perfectly manageable. Last time I checked, the skies didn’t fall and the seas didn’t boil in FY 13 when the state had about this much to spend. A 2.6 percent drop is no cause for panic. The governor will work with the Legislature to prioritize spending, find efficiencies and tap unused resources – like revolving funds – to maintain adequate services and even improve services in some areas.”

Doerflinger is director of the Office of Management and Enterprise Services, which prepares the revenue estimates the Board of Equalization certifies each year.

The Board of Equalization's revenue certification packet is available on the OMES website:

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