Jump to content

2015 Oklahoma state budget

From Wikipedia, the free encyclopedia
2015 (2015) Budget of the Oklahoma state government
SubmittedFebruary 3, 2014
Submitted byMary Fallin
Submitted to54th Legislature
Total revenue$7 billion (Governor estimated)
Total expenditures$7 billion (Governor requested)
WebsiteOklahoma Office of Management and Enterprise Services
‹ 2014
2016›

The Oklahoma State Budget for Fiscal Year 2015, is a spending request by Governor Mary Fallin to fund government operations for July 1, 2014 – June 30, 2015. Governor Fallin proposed the budget on February 3, 2014. This was Governor Fallin's fourth budget submitted as governor.

Governor's major issues

[edit]

Tax cut

[edit]

In the 2013 legislative session, Governor Fallin requested and the Oklahoma Legislature enacted HB2032 reducing Oklahoma's top marginal income tax rate from 5.25 percent to 5 percent beginning January 1, 2015. The law was subsequently declared unconstitutional by the Oklahoma Supreme Court.[1] Governor Fallin again calls for the enactment of the tax cut, reducing tax revenues an estimated $47.4 million for FY2015.

Funding changes

[edit]

Agency consolidation

[edit]

Revenue adjustments

[edit]
  • Transfer $83 million from agency revolving funds (fees collected directly by agencies) to the General Fund
  • Increase appropriations authority from Education Reform Fund by $43.2 million to support local school districts

Appropriation reductions

[edit]
  • Reduce all other agency appropriations by 5%
  • Eliminate all appropriation funding to the Oklahoma Department of Consumer Credit, forcing agency to rely solely upon its fees to fund operations

Total spending

[edit]

Request

[edit]

The Governor's proposed Executive Budget for 2015 totals $7 billion in spending. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2015, which must be authorized by the Legislature. Percentages in parentheses indicate percentage change compared to Fiscal Year 2014 enacted budget. The budget request is broken down by the following expenditures:

  • Appropriations by Cabinet Department: $7 billion (-1.3%)
    • $3.6 billion - Education (0%)
    • $2.2 billion - Health and Human Services (-1%)
    • $665 million - Public Safety (+1%)
    • $207 million - Transportation (-1%)
    • $107 million - Finance (-9.5%)
    • $78.5 million - Judiciary (-2.5%)
    • $45.1 million - Commerce (-5%)
    • $36.5 million - Agriculture (-5%)
    • $35.9 million - Tourism (-9.5%)
    • $33.9 million - Veterans Affairs (-5%)
    • $31.0 million - Legislature (-5%)
    • $26.8 million - Energy and Environment (-4.5%)
    • $20.0 million - Secretary of State (-1%)
    • $17.3 million - Science and Technology (-5%)
    • $11.2 million - Military (-5%)
    • $2.5 million - Governor and Lieutenant Governor (-5%)
  • Numbers have been rounded

References

[edit]
[edit]