Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2007, which must be authorized by the
Legislature.
Major Initiatives
The Governor's budget identified the following major initiatives:
Education - day long
kindergarten programs statewide, pilot program for middle school math improvement program, reforming high school curriculum, and a bond issue for higher education building projects
Health Care - reducing the price of prescription drugs
Tax Reform - establish an Economic Development Research Endowment Fund, established a Taxpayer Relief Fund, exemption of Corporate
capital gains from taxation and
estate tax reform
Key Funding Issues
The Governor's budget identified the following key funding issues:
$8.4 million to the
Oklahoma Office of Juvenile Affairs to increase salaries for juvenile specialists and increased payments to county juvenile detention centers
$1 million to expand law enforcement efforts on the fight against methamphetamine
$790,000 to expand law enforcement efforts to protect children from internet predators
Transportation - $100 million to
Oklahoma Department of Transportation for maintenance of roads and bridges, half to the State and half to the counties
Capital Budget - issuing a $312.5 million
bond to provide for the maintenance, replacement or construction of the following:
$180 million for "Invest for the Future of Oklahoma"
Total Revenue
Tax revenue for Fiscal Year 2007 was $6.5 billion, up 13% from FY2006 levels of $5.75 billion. All revenue of the fiscal year 2007 was $6.65 billion, up 11.5% from FY2006 levels of $5.96 billion. The breakdown is as follows:
$6.5 billion - All Taxes
$163 million - Revenue Increases
$3.5 million - Other Revenue
The Governor's budget called for $17.4 million in
tax cuts, including the follows:
$13.9 million in decreased income taxes for the retired
$3.5 million in Back to School tax holiday
Total Spending
The Governor's budget for Fiscal Year 2007 totaled $6.64 billion in spending, an increase of 12% over Fiscal Year 2006 levels of $5.95 billion. Percentages in parentheses indicate percentage change compared to 2006. The budget request is broken down by the following expenditures:
$111 million - Fiscal Year 2006 Supplementals
$29 million - Pay Increases for State employees
Appropriations by Cabinet Department: 6.55 billion (+12%)
$3.47 billion - Education (+8%)
$961 million - Health (+9%)
$702 million - Human Services (+6%)
$648 million - Safety and Security (+12%)
$292 million - Transportation (+7%)
$106 million - Finance and Revenue (-24%)
$76.6 million - Judiciary (+9%)
$72.1 million - Commerce and Tourism (-20%)
$46.3 million - Agriculture (+7%)
$39.2 million - Veterans Affairs (+9%)
$35.5 million - Legislature (+4%)
$22.4 million - Science and Technology (+81%)
$21.4 million - Human Resources and Administration (+4%)
$16.4 million - Environment (+0%)
$13.5 million - Energy (+2%)
$12.8 million - Military (+2%)
$10.2 million - Secretary of State (+29%)
$3.2 million - Governor and Lieutenant Governor (+0%)
The
Oklahoma Legislature approved total appropriations for fiscal year 2007 of $6.56 billion. Percentages in parentheses indicate percentage change compared to the Governor's budget. The final appropriations are broken down by the following expenditures:[1]
Appropriations by Cabinet Department: $6.56 billion (+0%)
$3.46 billion - Education (+0%)
$967.9 million - Health (+1%)
$723.4 million - Human Services (+3%)
$651 million - Safety and Security (+0%)
$285.9 million - Transportation (-2%)
$105.2 million - Finance and Revenue (-1%)
$79.3 million - Judiciary (+4%)
$73 million - Commerce and Tourism (+1%)
$39.3 million - Veterans Affairs (+0%)
$37.3 million - Agriculture (-19%)
$35.7 million - Legislature (+1%)
$22.4 million - Human Resources and Administration (+5%)
$22.4 million - Science and Technology (+0%)
$17.3 million - Environment (+5%)
$15.1 million - Energy (+12%)
$12.9 million - Military (+1%)
$9 million - Secretary of State (-12%)
$3.2 million - Governor and Lieutenant Governor (+0%)