June 1, 2015

Fallin Signs $7.1 Billion Budget

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CAPITOL WATCH State Capitol Photo 1

M. Scott Carter

M. Scott Carter

M. Scott Carter reports on politics, legislation and other issues from the State Capitol.

 

 

Oklahoma Gov. Mary Fallin signed the omnibus $7.1 billion budget bill Monday afternoon. House Bill 2242 earmarks $7.138 billion for fiscal year 2016. The measure also includes a $48 million supplement appropriation to several agencies for the 2015 fiscal year.

Fallin said the budget was “a fiscally responsible blueprint for state government.”

Earlier this spring, the measure passed the House of Representatives 59-37. It passed the Senate 37-8.

Plagued by a $611.3 million shortfall, lawmakers used more than $500 million from one-time sources to fill the budget hole. Those funds included $50 million from the unclaimed property fund, $150 million from the state’s “rainy day” savings account and more than $125 million in revolving funds, diverted from 49 state agencies.

Although a handful of agencies saw small budget increases, the Legislature cut spending to the state’s higher education and career and technical education system. Lawmakers allocated $2,484,873,132 — a standstill budget — for the state’s K-12 educational system.

NOTE: This story was updated at 2:40 pm. to include new information.