NonCommercial NoDerivs 30 Unported License OK BUDGET CYCLE WHERE DOES ALL THE MONEY COME FROM Consensus Revenue Forecasting State Equalization Board 20 states have this in ID: 790301
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Slide1
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
Slide2BUDGET CYCLE
Slide3WHERE DOES ALL THEMONEY
COME FROM?
Slide4Consensus 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
Slide5FY 2019 TOTAL REVENUE: $7.813 Billion
STATE APPROPRIATED BUDGET
Slide6100% = $6.5 Billion
FY 2019 GENERAL REVENUE FUND SOURCES
Slide7“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
Slide8FY 2019
EDUCATION REFORM
REVOLVING [1017] FUND SOURCES
$790 Million
Slide9WHERE DOES ALL THEMONEY GO?
Slide10FY 2019 STATE APPROPRIATED BUDGET
$7.545 Billion
Slide11FY 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
Slide12ROADS 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
Slide13WHAT CAN THE STATE DO WHEN THERE IS A REVENUE SHORTFALL?
Slide14DEFICIT 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