Oklahoma Lawmakers Reach Budget Agreement

Oklahoma State lawmakers have reached an agreement to balance the state's budget for fiscal year 2010.

Friday, February 19th 2010, 2:27 pm

By: News 9


By Charles Bassett, NEWS 9

OKLAHOMA CITY -- Oklahoma State lawmakers have reached an agreement to balance the state's budget for fiscal year 2010.

The budget had a $669 million shortfall. But through a series of agency cuts, that number was reduced to $284 million.

State leaders are now tapping into the state's $600 million Rainy Day fund and some other funding to fill the rest.

"We took some steps to get the budget hole this year filled, but also the one for next year," Oklahoma State Treasurer Scott Meacham said.

Across-the-board cuts from all state agencies made up $385 million, $223 million from the Rainy Day Fund plus federal stimulus dollars made up the rest.

Some of the cuts weren't as bad for state agencies as first thought. For example, the Oklahoma Healthcare Authority had projected $10 million in cuts to Medicaid providers, but with the budget agreement, that will be only $5 million now.

"We're still going to be able to pay providers what we believe hopefully is a sufficient rate to keep them in business and keep them available to our members," Nico Gomez with the Oklahoma Healthcare Authority said.

But the state says things are likely to get worse before they get better.

"Obviously we've announced a 10 percent cut for the rest of this year and probably that level of reduced state support will continue into next year with maybe even some more cuts so you might see state agencies getting ready for lower dollars next year, too," Meacham said.

State leaders predict a budget shortfall of $1.2 billion next year. So they've set aside another $223 million of The Rainy Day Fund for next year's budget.

"I think probably the worst of it is behind us, but the question is how long will it take us to return to where we were?" Meacham said.

There's about $150 million left in the Rainy Day Fund.

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