Board of Equalization approves Oklahoma Fiscal Year 2022 budget

LAWTON, Okla. (KSWO) - The Oklahoma Board of Equalization voted Monday to certify revenue and expenditures for the Fiscal Year 2022 budget.

The board is chaired by Governor Kevin Stitt.

The Board of Equalization certified $9,064,748,251 in authorized expenditures for the fiscal year and an estimated $9,948,810,340 available in certified and authorized funds plus cash. That means the state has an estimated $884 million in unspent funds.

Governor Stitt’s office says the appropriations increased 23% from the previous fiscal year.

“Oklahoma’s economic future has never looked brighter,” said Governor Stitt. “I am proud of the decisions we made with the Legislature during the 2021 legislative session to ensure that money is returned to the taxpayer via tax cuts for all Oklahomans while also replenishing our state reserves and cash to a record $1.3 billion.”

Fiscal Year 2022 begins July 1.