Tentative Deal Reached On Oklahoma State Budget

Friday, May 16th 2014, 11:58 am
By: News 9

Oklahoma House Speaker Jeff Hickman says negotiators are finalizing details of a $7.1 billion budget proposal for the fiscal year that begins July 1.

The tentative agreement announced Friday represents a cut of about $100 million from the current fiscal year's budget. Hickman says he hopes a bond issue to repair the state's crumbling Capitol is part of the final agreement.

State Secretary of Finance Preston Doerflinger says public schools will receive an additional $80 million under the plan, while money also is included for pay raises for targeted state workers such as prison guards and child welfare workers.

The budget taps agency revolving funds and uses other money to make up most of a $188 million shortfall in the budget.

More details are to be released later Friday.