Between fiscal years 2015 and 2016, total government spending in Oklahoma increased by approximately $331.0 million—from $22.4 billion in fiscal year 2015 to an estimated $22.7 billion in 2016. This represents a 1.5-percent increase.
The state debt per capita was $2,277. This ranked Oklahoma 29th among the states in debt and 37th in per capita debt. The total state debt owned by the 50 states was $1.15 trillion with a per capita debt of $3,582.
The U.S. Public Interest Research Group, a consumer-focused nonprofit organization based in Washington, D.C., released its annual report on state transparency websites in April 2016. The report, entitled "Following the Money," measured how transparent and accountable state websites were with regard to state government spending. According to the report, Oklahoma received a grade of A- and a numerical score of 90.5, indicating that Oklahoma was "Leading" in terms of transparency regarding state spending.
An Act relating to driver licenses; amending 47 O.S. 2011, Section 6-101, as last amended by Section 1 of Enrolled House Bill No. 1059 of the 1st Session of the 58th Oklahoma Legislature, which relates to driver license fees, expiration, issuance...
An Act relating to the Oklahoma Health Care Authority; requiring that portions of certain appropriated funds be used for certain purposes; providing for duties and compensation of employees; authorizing payment of certain expenses; authorizing...
An Act relating to general appropriations for the expenses of various agencies of the executive, legislative and judicial departments of the state; making appropriations to the State Board of Education, the Oklahoma Arts Council, the State Board...
State debt refers to any debt owned by a state government. Debt may include any financial obligations a state has that have not been paid, such as bonds issued by state governments, money borrowed by a state government that has not been repaid, or post-retirement benefits promised to state employees.
The budget hole is caused by declines in revenue from Oklahoma’s major taxes as well as the use of one-time revenue in past budgets that is no longer available for next year’s budget. Lawmakers used over $600 million in one-time revenue to balance Oklahoma’s budget last year, which included issuing bonds to fund transportation, transferring money out of dozens of funds, and tapping the Rainy Day Fund.
In 2013 Oklahomans paid 24 percent less per person in state and local taxes than the national average. Of every $100 in income, Oklahomans paid $8.32 in state and local taxes (U.S. average: $10.35). Oklahomans’ taxes as a share of personal income are 47th lowest in the nation. Oklahoma collects less per person than the national average from all revenue sources except sales taxes and federal funds, where are above the average.
Oklahoma made deep cuts to state appropriations during the Great Recession, and state funding has never returned to pre-recession levels. Since 2015, the downturn in the energy sector, combined with further cuts to the top income tax rate and the continued cost of tax breaks, has led to two consecutive years of large budget shortfalls and cuts. Budget cuts would have again been even deeper but for the use of money from the Rainy Day Fund and the use of various revenue enhancements, most of which amounted to one-time funds, rather than recurring revenues.
Unlike the federal government which can run a budget deficit, the state of Oklahoma is required to balance its budget every year. That means if revenue aren’t coming in to fund public services at the same level, lawmakers are required to cut spending or find new sources of revenue to make it balance.
Budgeting offers a solution for state agencies for implementing, and adjusting financial objectives. Budgeting is integrated with other State-supported modules including General Ledger, Commitment Control, and HCM.
This service is available for all Oklahoma state agencies, offices, officers, bureaus, boards, commissions, counsels, units, divisions, bodies, authorities, or institutions of the executive, legislative, or judicial branches of state government.
62 O.S. §34.42.A – "On or before the first day on June in each year, or as soon thereafter as possible, all agencies shall file agency budgets with the Director of the Office of State finance. Copies of all agency budgets shall also be made available electronically to the staff of the Joint Legislative Committee on Budget and Program Oversight"
OKLAHOMA CITY - Attorney General John O’Connor, as part of a bipartisan coalition of 49 attorneys general, led by Florida, Iowa, Mississippi, Pennsylvania, and Tennessee, has called on the Federal Trade Commission to adopt a national rule to target impersonation scams.
OKLAHOMA CITY - In a multistate effort led by Florida Attorney General Ashley Moody, Attorney General John O’Connor is joining the call for U.S. Department of Homeland Security Secretary Alejandro Mayorkas’ resignation.
Overall, Oklahoma spent just over $32 billion on public services in 2013. Of this amount, $18.71 billion, or 58 percent, was state spending, while $13.56 billion, or 42 percent, was spent by local governments. Here’s how spending for different services breaks down between state and local governments:
Transportation: Transportation is an example of a public investment that is shared across many governments. Overall, Oklahoma spends about $2.4 billion per year. State spending–mostly for highways–is over half of all transportation spending.
The state operates a wide range of social services, of which the largest is Medicaid, the health insurance system for low-income Oklahomans. Local spending for health and social services, mainly county and city hospitals, is considerably lower, approximately $1.2 billion per year.
Environment and Housing: Local governments spend the most on environment and housing services. The state provides a number of important services, however, including state parks ...