BOE Special Meeting January 7, 2016, 1:30 p.m.
Complete agenda can be accessed here.
Financial Services Update
–Meeting Adjourned–Commentary on the Budget Cuts from Financial Services Director Andy EvansThe Office of Enterprise Management Services (OMES) declared a revenue shortfall on December 23, 2015. The shortfall is due to the loss of income due to the price of petroleum products and the cascading effect that is occurring in Oklahoma’s revenues. The revenues continue to slump in the area of sales tax, gross production and motor vehicle collections. The net result is that due to the requirement to produce a balanced budget, the revenue shortfall has created a serious gap in available funds for disbursements.The SDE had original request directives to reduce state aid by 3% and the Flex Benefit by 3%. Due to the concern for district finances, the SDE is proposing thisalternate budget scenario.The net total losses as proposed by the SDE to OMES include the following:
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