Senate Appropriations Chair Roger Thompson issues statement following Board of Equalization certification

OKLAHOMA CITY – Sen. Roger Thompson, chair of the Senate Appropriations Committee, issued the following statement Friday after the Board of Equalization voted on the final certification of funds available for appropriation in Fiscal Year 2024, which begins July 1. 

“I’ve long cautioned that despite growing revenue certifications, Oklahoma was seeing the benefits of a tremendous influx of one-time federal dollars.  Our economy has been extremely strong, but we are beginning to see the impact of decreased prices in oil and gas, Oklahoma’s main economic drivers.  As a result, we’ve seen the amount of funding certified for appropriations move from $13.2 billion in late December, to  $12.6 billion on Friday, a difference of about $611 million.

“I’m proud of the discipline we’ve exerted in spending less than the amount available for the last couple of years, helping us bolster our emergency savings to better mitigate economic changes that may come.  I believe we’re seeing those changes now, and we must continue to focus on taking a fiscally conservative approach to the budget this legislative session.  With continued discipline in spending and thoughtful investment in core services of government, we will successfully move through this period and keep our economy and our state strong.”

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For more information, contact: Sen. Roger Thompson at 405-521-5588 or email Roger.Thompson@oksenate.gov.