State Agencies Make Cuts as Oklahoma's Revenue Declines

Oklahoma's now facing a shortfall this fiscal year, a problem they haven't had to worry about in at least six years.

Thursday, June 4th 2009, 8:43 pm

By: News 9


By Jon Jordan, NEWS 9

OKLAHOMA CITY -- While most of us are cutting back on our spending habits, it's having a negative effect on state revenue collections.

Oklahoma's now facing a shortfall this fiscal year, a problem they haven't had to worry about in at least six years.

State Treasurer Scott Meacham broke the news Thursday that the state agencies would have to make the cuts, but he said the news isn't as bad as it sounds.

Cutting back is something everyone seems to be doing more these days, and people aren't just pocketing more money, but being more careful what they do with it.

"Instead of going to the store and buying all brand names, I go for the cheaper stuff," said consumer Carol Brinker.

While consumers are putting more money in their pockets, it's leaving the state with less of it to spend.

"We're down across the board, in all major categories," Meacham said.

The decreases range from the state income tax to the motor vehicle tax, all which has left the state with a budget shortfall of .1 percent, which is enough though that state agencies will need to make cuts.

Meacham said it's a small cutback for the state agencies because they will only have to cut 1.5 percent from their budgets in June. It is something the agency knew was possible.

For the past five months the state has failed to meet revenue projections, but because the first half of the year resulted in record profits, the state is only short .1 percent.

logo

Get The Daily Update!

Be among the first to get breaking news, weather, and general news updates from News 9 delivered right to your inbox!

More Like This

June 4th, 2009

March 22nd, 2024

March 14th, 2024

February 9th, 2024

Top Headlines

March 29th, 2024

March 29th, 2024

March 29th, 2024

March 28th, 2024