The Latest: Oklahoma agencies face $34.6M in cuts this year - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

The Latest: Oklahoma agencies face $34.6M in cuts this year

(Source KSWO) (Source KSWO)

OKLAHOMA CITY (AP) - The Latest on Oklahoma's budget shortfall and revenue failure (all times local):

11:45 a.m.

Oklahoma's finance director says he plans to order cuts totaling $34.6 million to all state-appropriated state agencies beginning next month because of lagging revenues.

Public schools will receive the largest cut of about $11.1 million. Cuts to colleges and universities and to the Health Care Authority will total about $4.6 million each.

State Secretary of Finance Preston Doerflinger (DOR'-fling-ur) on Tuesday announced a revenue failure after collections to the state's main operating fund trailed the official estimate by more than 5 percent. The State Board of Equalization approved the revenue failure.

Doerflinger says the cuts will be spread out evenly over all state agencies that receive funding from the General Revenue Fund, beginning with March allocations. The cuts will continue until the end of the fiscal year on June 30.

11 a.m.

A state panel has certified the Oklahoma Legislature will have $878 million less to spend on the budget for the upcoming fiscal year and that additional cuts must be ordered for the current year.

Collections to the state's general fund fell well short of projections. That means finance officials will order across-the-board cuts to all state agencies, including public schools.

The shortfall for the upcoming fiscal year beginning July 1 means the Legislature will have about 13 percent less to dole out to state agencies than they spent last year.

Oklahoma's Board of Equalization confirmed both shortfalls during its regular meeting Tuesday.

It's the third consecutive year with a budget shortfall and the second straight for a revenue failure. A revenue failure is declared when collections fall more than 5 percent below estimates.

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