“Oklahoma Gets $21M Boost to State’s Rainy Day Fund”
Filed by KOSU News in State Impact.
August 23, 2012
When state finance officials closed the fiscal year 2012 books on June 30, they found $21 million in unused funds from various agencies.
Secretary of Finance Preston Doerflinger says the additional revenue boosts the total amount of the constitutional reserve fund to $577.5 million, close to the pre-recession record level of $596 million.
Revenue in the fund can only be accessed when state collections fail to meet projected budgets and a revenue failure is declared, or if the governor and two-thirds of both legislative houses declare an emergency.
Read more at: newsok.com
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