The Board of Equalization, chaired by Gov. J. Kevin Stitt, certified $8,249,071,274 in revenues for FY 2020 appropriations, which is $574.5 million, or 7.5 percent, more than was appropriated for FY 2019. This amount is $37.8 million, or 0.5 percent, less than the December estimate. The state treasurer reported that at the end of January,…
Following the discovery of a $30 million slush fund at the state Department of Health last year, a multi-county grand jury made 7 recommendations to prevent financial deceit by state agencies. Sen. Paul Scott has authored legislation to implement one of those recommendations by punishing state employees who hide public funds under their control. Senate…
Senate Republicans will attempt to increase accountability in state government by creating a legislative budget office and will protect the state’s $2.9 billion investment in education as part of their 2019 legislative session, according to a press release by Senate President Pro Tempore Greg Treat and members of the GOP Caucus. “Our agenda is simple…
Dec. up 13.4%, ‘18 up 13.2% State revenues increased by 13.2 percent – more than $1.5 billion – in 2018 compared to 2017, according to new State Treasurer Randy McDaniel. The state took in a little less than $13 billion in taxes in 2018, with $1.1 billion coming in December. December 2018 was $135 million…
State revenues have been setting records every month for a year yet the State Board of Equalization has authorized a budget surplus of $612 million. Gov. Kevin Stitt wants to move slowly on allocating a surplus. Republican leaders urge caution because of the up-and-down nature of energy prices. And Democrats want a tax increase to…
Randy McDaniel has become Oklahoma’s 19th state treasurer. During a ceremony attended by family and friends, McDaniel was administered the oath of office by State Supreme Court Justice James Winchester on Wednesday morning at the State Capitol Building. McDaniel has 24 years of private sector experience as a financial advisor and banker. He also served…
Gov. Kevin Stitt has nominated Mike Mazzei as the Secretary of Budget, a newly created cabinet position that will require Senate confirmation. As Secretary of Budget, Mazzei will be responsible for preparing and finalizing the governor’s annual state budget, providing oversight of its implementation and giving counsel for the state’s financial strategy. “Mike Mazzei brings…
The State of Oklahoma has had a record amount of revenue in 2018. That is indisputable, even though some liberal pundits think the billion-dollar-plus budget surplus is “fake news.” It’s not. The numbers are there. The money is in the state treasury. Hundreds of millions of dollars are pouring into the state Rainy Day Fund….
Record-setting tax revenue for November, 12 months Lawmakers who want to raise taxes will have a weaker argument when the legislative session begins in February thanks to record-setting revenues pouring into state coffers. State Treasurer Ken Miller’s report on November tax receipts showed an increase of nearly 16 percent from November of 2017. The November…
The Oklahoma Department of Corrections wants $1,570,000,000.00 for the next fiscal year including $844,000,000.00 to add 5,200 beds, $91,700,000.00 for inmate hepatitis C treatment, $31,900.000.00 for facility repairs, maintenance and other needs, and $18,500,000.00 million for staff pay raises. Last week, the Oklahoma Board of Corrections unanimously approved, according to board chairman State Rep. Bobby…