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Tag Archives: oklahoma oil tax revenue

Oklahoma taps Rainy Day Fund for second consecutive year

Oklahoma State Capitol and flag. (Image: Nicolas Henderson via Flickr)

OKLAHOMA CITY (AP) — Oklahoma’s overcrowded prison system and stretched public school districts will receive $78 million from the state’s Rainy Day Fund under an emergency agreement among state Republicans leaders aimed at plugging a huge budget hole this fiscal year. It is the second consecutive year Oklahoma has tapped the fund reserved for extraordinary situations and follows a collapse ...

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Oklahoma budget hole jumps to $1.3 billion amid downturn

"Foggy Bottom Pump Jack" in Duncan, Oklahoma. (Image: duggar11 via Flickr)

OKLAHOMA CITY (AP) — Oklahoma finance officials say the hole in next year’s budget has increased to $1.3 billion, or nearly 20 percent of last year’s spending, amid depressed oil prices. The Office of Management and Enterprise Services announced Thursday that plunging revenue collections have widened the shortfall from the original projection of $900 million in December. A state panel ...

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