Can Oklahoma learn from Kansas

[Ed W]

Yep. He used creative finance. Senate District 34 includes Owasso and extends west to Sperry and Skiatook, I think.

[Townsend]

State revenue failure declared with $900 million budget hole projected



http://www.tulsaworld.com/news/capitol_report/state-revenue-failure-declared-with-million-budget-hole-projected/article_b3c4bc20-9b17-59c4-8ebb-bd074d4d45d8.html

OKLAHOMA CITY — State officials on Tuesday said a revenue failure is expected for the current fiscal year.

The state is expected to enact midyear budget reductions for appropriated state agencies.

"A shortfall is all but certain after 18 months with the oil price as it is, so agencies have been formally advised to prepare for a midyear reduction if they have not already," finance secretary Preston Doerflinger said in a news release. "It's going to be the biggest fiscal challenge since the years following the 2008 recession, and we'll need to meet it head on with all hands on deck."

The revenue failure was to be declared for fiscal year 2016, which began July 1.

For fiscal year 2017, lawmakers are expected to have about $900 million less than was available in 2016, officials said.

The Board of Equalization will meet Dec. 21 to certify how much is available to spend and revise the fiscal year 2016 revenue forecast.

The Office of Management and Enterprise Services reported on collections for the state's general revenue fund in a news release Tuesday afternoon. November collections of $354.1 million were $50.1 million, or 12.4 percent, below the official estimate upon which the FY 2016 appropriated state budget was based, and $28.4 million, or 7.4 percent, below prior year collections.

Total collections for the first five months of FY 2016 were $2.1 billion, which is $101.9 million, or 4.6 percent, below the official estimate and $97.3 million, or 4.4 percent, below prior year collections.

From the Oklahoma Policy Institute:

A revenue failure occurs when collections going to the General Revenue Fund fall below 95 percent of the certified estimate. The Director of the Office of Management and Enterprise Services declares a revenue failure and reduces funds going to agencies by however much is necessary to bring spending into balance with revenue collections. The Oklahoma Constitution specifies that in the event of a revenue failure, each appropriated agency must be cut in equal proportion to their share of total appropriations from the General Revenue Fund.

There have been four revenue failures since 2000, in budget years 2002, 2003, 2009, and 2010. The budget year 2009 cuts were later restored.

When a revenue failure is declared, the Legislature can use up to three-eighths of the Rainy Day Fund to prevent budget cuts. The Rainy Day Fund was tapped to address mid-year shortfalls in budget years 2003 and 2010.

[Townsend]

Revenue Failure "All But Certain" for Oklahoma

And Doerflinger's blaming OPEC...

http://publicradiotulsa.org/post/revenue-failure-all-certain-oklahoma

[Hoss]

Revenue Failure "All But Certain" for Oklahoma

And Doerflinger's blaming OPEC...

http://publicradiotulsa.org/post/revenue-failure-all-certain-oklahoma

It's the fault of the Oklahoma legislature for expecting the windfall of oil prices to continue and not try to do something about it before the bottom fell out.  Can't blame OPEC for this.  Everyone knows how volatile the oil market is (I sure do, as it drives the company I work for...but they actually diversified so it won't impact us too badly) and Oklahoma should have built in a bigger 'cushion'.

[cannon_fodder]

I love blaming OPEC.  They are a cartel of largely suspect countries who manipulate oil prices to increase their own wealth and put geopolitical pressure on their "enemies." What they have done the last couple of years is stop being an effective cartel and let the market drive the price of oil.

Stupid market economics!

I know it is hurting Oklahoma. I know it really is effecting revenue. But if Oklahoma isn't clear that oil booms turn into oil busts, then we probably are not capable of learning any budget lesson.

[Conan71]

Time to cut taxes again.  You know, to raise revenue 'n' stuff.

[AquaMan]

Where is that Cabbage guy, Sauerkraut? He could 'splain all this to us. It can't be poor state leadership.

[Conan71]

Where is that Cabbage guy, Sauerkraut? He could 'splain all this to us. It can't be poor state leadership.

He probably can't stand to show his face around here anymore since Obama was responsible for high gas prices and all.

[swake]

So the cuts are hitting education now and our good governess sees no need for new taxes or a special session. There's a funny/sad article on the Lost Ogle about how to shore up education funding in oklahoma:
http://www.thelostogle.com/2016/01/12/8-ways-to-raise-money-for-oklahoma-education/

In that article, I found this:


Another cray/cray random wingbat facebook posting? Certainly, Yes, but with a twist. Pam Pollard is the Chair of the Oklahoma Republican Party. Seriously.

http://kfor.com/2015/10/11/pam-pollard-wins-the-vote-becomes-okgop-chair/

[TheArtist]

So the cuts are hitting education now and our good governess sees no need for new taxes or a special session. There's a funny/sad article on the Lost Ogle about how to shore up education funding in oklahoma:
http://www.thelostogle.com/2016/01/12/8-ways-to-raise-money-for-oklahoma-education/

In that article, I found this:


Another cray/cray random wingbat facebook posting? Certainly, Yes, but with a twist. Pam Pollard is the Chair of the Oklahoma Republican Party. Seriously.

http://kfor.com/2015/10/11/pam-pollard-wins-the-vote-becomes-okgop-chair/

Workforce ready?

They wouldn't even have the qualifications to work at my little store.

[Townsend]

Workforce ready?

They wouldn't even have the qualifications to work at my little store.

They'd be ready to Pam Pollard Jesus though

[rebound]

So the cuts are hitting education now and our good governess sees no need for new taxes or a special session. There's a funny/sad article on the Lost Ogle about how to shore up education funding in oklahoma:
http://www.thelostogle.com/2016/01/12/8-ways-to-raise-money-for-oklahoma-education/

In that article, I found this:


Another cray/cray random wingbat facebook posting? Certainly, Yes, but with a twist. Pam Pollard is the Chair of the Oklahoma Republican Party. Seriously.

http://kfor.com/2015/10/11/pam-pollard-wins-the-vote-becomes-okgop-chair/

Wait.   I didn't read the article first, and just read the comment.  I thought it was somebody being overly sarcastic, and doing an excellent job of parodying the wing-nuts.   Is this seriously a real comment by a real person in a position of relative standing in OK?  Good.  Effing. God.     The level of "you have got to be kidding me" is so high here I don't even know how to react.

[cannon_fodder]

I thought that entire thing was written in sarcasm font.

However, his facebook post pretty well lines up with the written platform of the Oklahoma Republic Party, so I'm not surprised. Saddened, yes.

Just think, we could have the same stellar educational system as Somalia or Yemen. Kids stay home and study religion.

[Townsend]

Kids stay home and study religion.

Yeah but the girls get to cook!

[dbacksfan 2.0]

The Lost Ogle reminds me of Phoenix New Times an LA Weekly http://www.voicemediagroup.com/ an alternative news publication. I take the article and Pam's comment as a load of sarcasm based on a real issue.