OKLAHOMA CITY (AP) — Oklahoma finance officials say a projected $900 million hole in next year's state-appropriated budget is expected to grow closer to $1.1 billion when adjusted for one-time expenditures used to plug a hole in the current state budget.
Oklahoma's Secretary of Finance Preston Doerflinger also announced Thursday that cuts to state agencies as a result of the projected revenue failure in the current fiscal year likely will range from between 2 percent and 4 percent.
Doerflinger discussed some of the latest budget projections during a briefing with Speaker of the House Jeff Hickman and Senate Appropriations Chairman Clark Jolley.
Jolley says ideas already being discussed to shore up next year's budget include voluntary buyouts for state employees and scaling back tax incentives and off-the-top revenue.