2011 Oklahoma state budget
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| Submitted by | Brad Henry |
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| Submitted to | 52nd Legislature |
| Total revenue | $6.73 billion (estimated) |
| Total expenditures | $6.9 billion (request) $6.7 billion (enacted) |
| Website | http://www.ok.gov/osf/Budget/index.html Oklahoma Office of State Finance |
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The Oklahoma State Budget for Fiscal Year 2011, is a spending request by Governor Brad Henry to fund government operations for July 1, 2010–June 30, 2011. Governor Henry and legislative leader approved the budget in May 2010. This was Governor Henry's eight and final budget submitted as governor.
Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2011, which must be authorized by the Legislature.
Oklahoma's $6.7 billion state budget for FY2011 was approved in May 2010 and is $400 million less than the previous budget. State revenues declined almost 17% in FY2010, down approximately $945 million from FY2009. As a result, lawmakers cut state agency budgets 7.5% midway through FY2010. Then lawmakers relied on a combination of fee hikes, deferred tax credits and further cuts to state agencies (3% cut in general) to help balance the FY2011 budget. That was not, however, enough and lawmakers additionally relied on $500 million in federal stimulus money and $277 million in funds from the Constitutional Reserve Fund to balance the FY2011 state budget.
Oklahoma has nearly $600 million remaining in its Constitutional Reserve Fund, but has limitations in using it to fill the budget shortfall. Three-eighths of the fund may be used to fill the 2010 mid-year gap, three-eighths may be used for the next fiscal year, and the remaining quarter may be used in a declared emergency by the governor with a three-quarter vote of the Legislature.
The Governor's budget identified the following measures to increase State revenue:
The Governor's budget identifies the following key funding issues:
Estimated tax revenue for fiscal year 2011 is $5.3 billion, an estimated decrease of 22% from FY2010 amounts of $6.8 billion:
All revenue of the $6.8 billion budget revenue breaks down as follows:
The following figures represent actual tax revenue collected by month for Fiscal Year 2011 and deposited within the State's General Fund:
Fiscal Year 2011 ended with a budget surplus over estimated revenue. The $219 million surplus was deposited into the State Constitutional Reserve Fund and may be used by the Oklahoma Legislature in future years to shore up sudden drops in tax revenues.
Collected General Fund revenue for fiscal year 2011 was $5.1 billion, an increase of 10.5% over FY2010 amounts of $4.6 billion:
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