Board Certifies Funds for Next Budget
The Governor and state leaders on the Equalization Board certify an estimated $6.5 billion budget for the 2013 fiscal year.
Despite a slight increase in collections, lawmakers are still facing a shortfall of about $150 million.
Governor Fallin says this will essentially be a flat budget year.
“We’re going to be asking all of our state agencies to continue on and looking at ways to make government more efficient, to develop more shared services and find ways that we cannot waste money.”
Fallin says any savings made through the removal of tax credits could go to reducing the state’s personal income tax which makes up nearly a third of the budget.
The Equalization Board also took $6 million from the Oklahoma Higher Learning Access Program to put towards next year’s budget.