Oklahoma agrees on fiscal year 2015 budget - KSWO 7News | Breaking News, Weather and Sports

Oklahoma agrees on fiscal year 2015 budget

OKLAHOMA CITY, Okla._Governor Fallin along with the House and Senate leaders have announced an appropriated state budget agreement for the 2015 fiscal year.

The budget agreement will add $80 million in funding to K-12 education. The new budget has also cut $188 million in spending and reconciling several state agencies. The budget, however, avoided cuts to public safety, higher education and mental health areas.

The $80 million increase to common education funding for fiscal year 2015 adds to the $74 million in additional K-12 funding added in fiscal year 2014, bringing a total of new common education funding to $154 million in the past two fiscal years.

“We have gone to extraordinary lengths, even with a sluggish revenue year, to add substantial new resources to common education in Oklahoma,” Fallin said.

The total budget for the upcoming fiscal year is $7,121,723,873. That comes in around $102.1 million, or 1.4 percent, less than the current fiscal year. State employees, 12,378 of them, will be receiving $36.8 million from the new budget in raises.

“We knew from day one this session would be difficult fiscally. This budget protects core government services like education, public safety, transportation and health care, while making strategic cuts to other areas of government in order to balance our budget. Unlike Washington D.C., we have to balance our budget each year, which in a year with a $188 million shortfall requires tough decisions. Agencies have known all year they would have to do more with less and we know many have proactively begun to operate more efficiently in anticipation of these necessary and expected cuts. We were able to protect core services and continue our commitment to improving our state’s education system, given the budgetary challenges I think the people of Oklahoma can be proud of this budget,” said Senate President Pro Tem Brian Bingman.

SB 2127 Summary

Fiscal year 2015 fact sheet

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