BUDGET OVERVIEW This publication is issued by the Office of Management and Enterprise Services as a - PowerPoint Presentation

BUDGET OVERVIEW This publication is issued by the Office of Management and Enterprise Services as a
BUDGET OVERVIEW This publication is issued by the Office of Management and Enterprise Services as a

BUDGET OVERVIEW This publication is issued by the Office of Management and Enterprise Services as a - Description


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 Download

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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

Slide2

BUDGET CYCLE

Slide3

WHERE DOES ALL THEMONEY

COME FROM?

Slide4

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

Slide5

FY 2019 TOTAL REVENUE: $7.813 Billion

STATE APPROPRIATED BUDGET

Slide6

100% = $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

Slide8

FY 2019

EDUCATION REFORM

REVOLVING [1017] FUND SOURCES

$790 Million

Slide9

WHERE DOES ALL THEMONEY GO?

Slide10

FY 2019 STATE APPROPRIATED BUDGET

$7.545 Billion

Slide11

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

Slide12

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

Slide13

WHAT CAN THE STATE DO WHEN THERE IS A REVENUE SHORTFALL?

Slide14

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

Shom More....