Gov. Brad Henry and Legislative leaders announced an agreement on how to fill the budget hole for the remainder of the 2010 fiscal year. Because of lagging revenue, the budget was more than $1 billion short of appropriations.
Under the agreement, most agencies will continue at the 10-percent cut to their monthly allocation through June. To fill in the rest of the gap, leaders have agreed to use some of the state’s Rainy Day Fund, as well as its federal stimulus appropriation.
But not every agency will suffer greatly under the agreement, with a few receiving a supplemental funding allocation:
” K-12 education will receive $50 million to address a shortfall in the House Bill 1017 fund, with another $80 million divided between K-12 schools and higher education based on their overall percentage of general revenue.
” The Oklahoma Health Care Authority will be allocated $33 million.
” The Department of Corrections will receive $7.2 million. “Scott Cooper