Presentation on theme: "BUDGET OVERVIEW This publication is issued by the Office of Management and Enterprise Services as a"— Presentation transcript
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BUDGET
OVERVIEW
This publication is issued by the Office of Management and Enterprise Services as authorized by Title 62, Section 34. Copies have not been printed but are available through the agency website. This work is licensed under a Creative Attribution-NonCommercial-NoDerivs 3.0 Unported License.
OK
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BUDGET CYCLE
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WHERE DOES ALL THEMONEY
COME FROM?
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Consensus Revenue ForecastingState Equalization Board | 20 states have this in
place.Ensures consistent, uniform numbers.
Certification Appropriation Limit | 95 percent.Expenditure Limit12 percent plus inflation.Rainy Day Fund.
ASPECTS
|
OK State Revenue
and
Budget System
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FY 2019 TOTAL REVENUE: $7.813 Billion
STATE APPROPRIATED BUDGET
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100% = $6.5 Billion
FY 2019 GENERAL REVENUE FUND SOURCES
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“Other” Category in GR: $329.1 million
Alcohol Beverage Tax
Attorney General (Tobacco)
Mixed Beverage Receipts Tax
OMES CAM/formerly
DCS
Beverage Tax
CLEET
Cigarette Tax
Consumer Credit
Tobacco Products Tax
DPS
Franchise/Business Activity Tax
OMES EBD/formerly
EBC
Estate Tax
Horseracing
Insurance Premium Tax
Insurance
Comm.Motor Vehicle TaxesLaborPari-Mutuel Medical LicensureTribal Cigarette CompactsNursing BoardBingo Excise and Charity GamesSec. of StateWorkers Comp Ins. Premium TaxSecurities Comm.Petroleum Excise TaxTreasurer (Unclaimed Property)Other OTCTribal GamingABLEOMES HCM/formerly OPM
FY 2019
GENERAL REVENUE FUND
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FY 2019
EDUCATION REFORM
REVOLVING [1017] FUND SOURCES
$790 Million
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WHERE DOES ALL THEMONEY GO?
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FY 2019 STATE APPROPRIATED BUDGET
$7.545 Billion
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FY 2019
Top Ten State agencies for appropriations
Common Education
$ 2,912,985,147
39%
Health Care Authority
$ 1,132,465,946
15%
Higher Education
$ 776,707,167
10%
Department of Human Services
$ 729,431,808
10%
Department of Corrections
$ 517,255,503
7%
Mental Health/Substance Abuse
$ 337,108,145
4%
Department of Transportation
$ 165,853,359
2%
CareerTech
$ 124,337,661
2%
Department of Public Safety
$ 97,610,968
1%Office of Juvenile Affairs $ 92,784,336 1%Total of Top Ten $ 6,886,540,040 91%
FY 2019
MAJOR STATE EXPENDITURES
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ROADS FUND: $580.0 million.OHLAP: $76.8 million.Many other small ticket obligations, but those listed above represent:$656.8M not included in state budget expenditure
numbers.
OTHER FY 2019 STATE OBLIGATIONS
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WHAT CAN THE STATE DO WHEN THERE IS A REVENUE SHORTFALL?
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DEFICIT SPEND LIKE FEDERAL GOVERNMENTConstitutional requirement to balance the budget.
Increase EfficiencyMost agencies have been cut at least double digit %
over the past eight yearsSome as much as 66 percent (OETA, from $8.3m in FY 09 to $2.8m in FY 17).Cut BudgetsAcross the board.
Targeted cuts.
Increase Revenues
[taxes, fees, charges]
SQ640 and
supermajority.
STATE REVENUE SHORTFALL
