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.
As you think about your to-do list for the beginning of next school year, please ensure your employees—all of them, whether administrators, teachers or support staff—are furnished with any and all employment-related materials when they report for duty.
Two questions: Did you realize that customer service within your schools is everyone's responsibility, not just those sitting in the front office? And did you know that DonorsChoose.org is not the only site you can use to raise money for your classrooms?
Too often, schools adopt an all or nothing philosophy surrounding technology. Either we don't use it at all, or we adopt it and run full steam ahead. I think this is where most schools end up struggling with technology.
This is an extension of a post I included in a recent members-only Friday News Brief. However, I feel the topic is worth repeating, as the methods you choose for communicating with your staff, board and the public at large are critical to ensuring all interested parties stay informed of important school and district information.