Gov. Stitt comments on $9.1B estimate for next state budget

GOVERNOR STITT ISSUES STATEMENT ON OKLAHOMA STATE BOARD OF EQUILIZATION CERTIFICATION

OKLAHOMA CITY (Dec. 27, 2021) — Governor Kevin Stitt issued the following statement today after the Oklahoma State Board of Equalization certified an estimate indicating lawmakers will have $9.1 billion in certified and authorized funds for the 2023 fiscal budget year, which begins July 1, 2022.

“This past fiscal year, Oklahoma’s economy has bounced back in a big way and continues to improve,” said Gov. Stitt “State revenues are climbing while we are cutting taxes for every Oklahoman. I am committed to investing in our future by adding to what is already the largest state savings account in history, and ensure we remain fiscally responsible with Oklahomans' tax dollars."

During the meeting, Gov. Stitt brought attention to $1.1 billion in one time carryover and special cash held over from the FY-2021 budget.

“We have changed the perception for how taxpayer dollars should be spent in Oklahoma,” said Gov. Stitt. “I’m proud of Senate Appropriations Chairman Roger Thompson, Senate Appropriations Vice Chair Chuck Hall, House Appropriation Chairman Kevin Wallace and House Appropriations Vice Chair Kyle Hilbert for their fiscal discipline last year and thinking long term. We will have the largest savings and unspent cash in history at over $2 billion to start FY 2023 and have avoided any cuts to state agencies and services. We'll continue to be fiscally responsible and invest in our future to set ourselves up for success."

The Board of Equalization will return in February to certify a final estimate on how much revenue lawmakers will have to build a budget during the upcoming legislative session.