Fallin predicts $500M-$600M gap in upcoming Oklahoma price range

OKLAHOMA CITY (AP) – Gov. Mary Fallin says early projections are that Oklahoma may have a gap in subsequent yr’s state finances of as a lot as $600 million, or almost 10 % of state spending on the present yr’s price range.

Fallin stated Wednesday she expects a projected shortfall of between $500 million to $600 million when the State Board of Equalization meets subsequent week to certify out there revenues. The governor says that determine consists of about $245 million in a single-time sources of cash that have been spent on this yr’s price range.

Fallin says she’s optimistic that a rise within the worth of oil and pure fuel might scale back the shortfall earlier than the ultimate income estimate is licensed in February.

Regardless of the shortfall, Fallin says a pay increase for Oklahoma academics will probably be a precedence subsequent yr.

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