As we move to the halfway point of the legislative session we still don't know what's going to happen with the budget. With a gross loss of $888,000,000 and probably a net loss of $700,000,000 this going to be tough. We do have projections built that were sent out with the March and April State Finance Report (email me if you did not receive it).
We are watching one bill that is in the Senate that could affect some schools. As was reported by other groups, while HB 1846 was pulled this week, action to move it along could manifest a change in Gross Production distributions. The legislation would take distribution of Gross Production from the Tax Commission to the a fund distributed by the SDE that would require approval from the Oklahoma Tax Commission to a dedicated-revenue fund that would have to be approved by the Oklahoma Equalization Board and then dispersed by the SDE.
Please look for the Chargeable Report soon and the April Finance Report by the 19th of April. If we can be of service please contact us.
The Oklahoma school finance picture is still cloudy with a continuing possibility of issues going forward. It is important to remember that as we move into the new fiscal year, we need to remember the lessons of the past year.
A collection of Oklahoma education-related news of the week.
Below is a slideshow presented during a recent OPSRC PD session by OKSDE...