FY 2017 budget hole projected at $1.3B
OKLAHOMA CITY — The appropriated budget hole for Fiscal Year 2017 will be $1.3 billion.
The Board of Equalization on Tuesday certified $5,851,664,555 in revenues for FY 2017 appropriations, which is $1.1 billion, or 15.9 percent, less than was appropriated for FY 2016.
The true budget hole the Legislature will face is larger than what the board certified Tuesday. By law, $150 million in FY 2016 Rainy Day Fund appropriations and $77.5 million in FY 2016 revolving fund authorizations are not factored into the FY 2016 baseline amount used by the board. With those factors considered, there will be $1.3 billion, or 19.1 percent, less to appropriate for FY 2017.