Oklahoma’s budget is dependent on the value of petroleum products and the amount of petroleum products produced. Gross production tax increases during the FY18 Legislative session raised the questions: what really drives the amount of gross production taxes Oklahoma receives, and should we expect a big jump in taxes? After visiting with several different experts, we went to the Energy Information Administration and took a simplistic look at the cause and effect in revenues collected for gross production taxes.
The first graph is the total revenue by month from gross production collections paid to schools in the fiscal years listed. The bottom graph is the spot price of crude oil at Cushing. These graphs show that collections follow a similar pattern. We can also see several historical peaks and valleys in the collections and prices, to be expected with any commodity. When the actual data comes out this month, we can expect to see a dip in taxes because there is a cyclical dip in prices.
We continue facing many difficult issues when it comes to finance.
The Immigrant Legal Resource Center recommends that all families have—and share with their children’s school—a family preparedness plan. Such a plan outlines who is responsible for the care and custody of minor children in the event of an arrest, detainment or other happening that would make parents unavailable to their children.
We have all had those students who ranked somewhere on the autism spectrum, but did we do all we could to help them reach their potential? I have to admit I was ill-equipped and probably still am, but after reading an article in this week’s Parade magazine, Movie Magic by Nicola Bridges, my heart was warmed with promise.
Welcome back! I hope you have had time to rejuvenate and get revved up for the second half of the school year.