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STATE BOARD OF EQUALIZATION PROPOSED FY-2013 REVENUE CERTIFICATION December 20, 2011 Shelly Paulk Office of State Finance TABLE OF CONTENTS Schedule 1 FY-2013 Funds to be Certified ........................................................................................................... 3 Schedule 2 Itemized Estimates of Revenue .......................................................................................................... 4 Schedule 3 Itemized Estimates of "Other" Revenues - General Revenue Fund ................................................... 5 Comparison of Revenue Estimates: Detail Schedule 4 FY-2012 Estimate vs. Proposed FY-2013 Estimate .......................................................................... 6 Schedule 5 FY-2012 Projection vs. Proposed FY-2013 Estimate ........................................................................ 7 Schedule 6 FY-2012 Estimate vs. FY-2012 Projection ....................................................................................... 8 Schedule 7 Education Reform Act – HB 1017 ....................................................................................................... 9 Schedule 8 Legislated Revenue Adjustments: Informational ROADS Fund Apportionment Summary ............... 10 Appendix A-1 Comparison of Authorized Expenditures 2011 Session to Proposed Expenditure Authority 2012 Session ........................................................................................................................................... 11 Office of State Finance 2 20 December 2011 Schedule 1 FY-2013 Funds to be Certified The summation of the itemized estimates of revenue, Schedule 2, and the amounts available for appropriation are proposed as the amounts to be certified by the State Board of Equalization in accordance with Section 23, Article X, Constitution of Oklahoma. The amounts proposed as available for appropriation are calculated as 95 percent (95%) of the summation of the itemized estimate of revenue for the respective funds. Column 1 Column 2 Column 3 TOTAL ESTIMATED COLLECTIONS APPROPRIATIONS AUTHORITY Proposed FY-2013 Estimates GENERAL REVENUE $5,541,934,309 $5,264,837,594 C.L.E.E.T. $3,368,528 $3,200,102 COMMISSIONERS OF THE LAND OFFICE $16,905,916 $16,060,620 MINERAL LEASING $4,000,000 $3,800,000 SPECIAL OCCUPATIONAL HEALTH & SAFETY $2,500,000 $2,375,000 PUBLIC BUILDING $1,757,280 $1,669,416 OK EDUCATION LOTTERY TRUST FUND $60,522,350 $57,496,233 TOTALS $5,630,988,383 $5,349,438,965 Office of State Finance 3 20 December 2011 Schedule 2 Itemized Estimates of Revenue The itemized estimate of revenues displayed in this schedule represents 100% of the estimate for the General Revenue Fund and the Special Revenue Funds to be appropriated by the Legislature for the fiscal year ending June 30, 2013 (FY-2013) and are the basis for the summation proposed for certification in Schedule 1. For informational purposes the FY-2013 estimates of revenues are compared to both the itemized estimates and the projections of revenues for the current fiscal year (FY-2012). Column 1 Column 2 Column 3 Column 4 Column 5 FUND NAME FY-2011 ACTUAL FY-2012 ESTIMATE 17-June-11 FY2012 PROJECTED 20-Dec-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 GENERAL REVENUE Alcohol Beverage Tax $21,882,525 $23,057,000 $22,244,000 $22,789,000 Mixed Beverage Receipts Tax 35,615,638 36,540,000 38,105,000 39,919,000 Beverage Tax 25,010,953 26,318,000 25,960,000 26,612,000 Cigarette Tax 67,282,028 56,491,510 45,731,124 48,106,942 Tobacco Products Tax 18,531,962 17,518,215 21,779,070 23,529,159 Franchise Tax/Business Activity Tax 29,144,157 45,073,000 49,720,000 49,720,000 Gross Production Tax-Gas 275,913,167 333,110,000 308,339,000 267,304,000 Gross Production Tax-Oil 212,545,738 185,643,079 234,753,000 195,075,000 Income Tax-Individual 1,775,100,943* 1,829,463,079* 1,912,165,239* 1,972,911,102* Income Tax-Corporate 274,238,355 202,812,075 263,017,950 270,291,325 Estate Tax 5,725,078 0 0 0 Insurance Premium Tax 81,652,995 66,441,362 75,554,580 75,554,580 Motor Vehicle Taxes 198,592,883 221,280,000 215,497,000 209,586,000 Sales Tax 1,668,336,492 1,747,397,999 1,796,073,232 1,877,035,303 Use Tax 150,136,643 158,859,000 173,075,208 187,025,537 Interest & Investments 80,484,928 96,000,000 80,000,000 83,000,000 Other (Schedule 4) 216,926,068 189,270,572 196,654,427 192,475,361 General Revenue Totals $5,137,210,551 $5,235,274,811 $5,458,668,832 $5,540,934,309 Transfers & Lapses 598,781 1,000,000 1,000,000 1,000,000 Revenue Comparison $5,137,809,332 $5,236,274,811 $5,459,668,832 $5,541,934,309 One-Time Receipts 0 0 0 0 Total General Revenue $5,137,809,332 $5,236,274,811 $5,459,668,832 $5,541,934,309 C.L.E.E.T. $3,435,654 $3,396,384 $3,368,528 $3,368,528 COMM of LAND OFFICE $17,981,316 $10,432,906 $14,050,030 $16,905,916 MINERAL LEASING $4,219,632 3,000,000 4,000,000 4,000,000 SPECIAL OCCUPATIONAL HEALTH & SAFETY 2,675,625 1,548,500 1,471,075 2,500,000 PUBLIC BUILDING 5,539,312 1,457,280 1,759,160 1,757,280 OK EDUCATION LOTTERY TRUST FUND 69,396,091 60,587,100 64,007,300 60,522,350 GRAND TOTAL $5,240,876,961 $5,316,696,981 $5,548,324,925 $5,630,988,383 *In compliance with Section 34.87 of Title 62 of the Oklahoma Statutes, the State Regents for Higher Education has requested $63m for funding of Oklahoma's Promise scholarship fund. Action taken by the Board reduced the amount of money allocated from state funds to $57,000,000 which has been removed from the FY-2013 Individual Income Tax Estimate. Any additional scholarship funding required is to come from the OHLAP Trust Fund which holds a current reserve balance of $14.5 million. $63.2m was funded for FY-2012 and $57m for FY-2011 and both amounts have been removed from the respective individual income tax numbers. Office of State Finance 4 20 December 2011 Schedule 3 Itemized Estimates of "Other" Revenues - General Revenue Fund Column 1 Column 2 Column 3 Column 4 Column 5 FY-2011 ACTUAL FY-2012 ESTIMATE 17-Jun-11 FY2012 PROJECTED 20-Dec-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 OTC: Pari-Mutuel 1,130,420 1,215,000 1,215,000 1,215,000 Tribal Cigarette Compacts 13,855,903 14,036,000 13,134,000 13,068,000 Bingo Excise & Charity Games 165,803 197,000 174,000 183,000 Workers Comp Ins. Premium Tax 8,806,054 7,026,000 8,280,000 8,317,000 Petroleum Excise Tax 10,844,996 9,131,000 9,632,000 9,982,000 Other OTC 29,230,023 21,448,000 21,226,000 21,535,000 TOTAL OTC $64,033,199 $53,053,000 $53,661,000 $54,300,000 COLLECTIONS BY OTHER AGENCIES ABLE 5,442,073 5,232,138 5,457,115 5,490,676 Attorney General 21,280 21,000 4,824,715 390,000 Central Services 434,139 1,051,209 855,645 505,295 CLEET 597,916 611,266 601,397 601,097 Consumer Credit 856,646 684,094 817,086 817,086 DPS 44,453,276 46,753,710 44,075,739 44,372,782 Employees Benefit Council 1,173,119 1,547,309 1,173,119 1,173,119 Horseracing 524,204 409,225 409,225 409,225 Insurance Comm 39,393,971 32,921,921 35,515,321 35,515,321 Labor 976,095 979,850 976,095 976,095 Medical Licensure 350,376 220,000 250,000 220,000 Nursing Board 303,157 301,818 301,818 304,846 Sec of State 2,714,634 2,267,000 2,636,409 2,684,000 Securities Comm 14,603,680 12,674,872 14,327,611 14,337,611 Treasurer (Unclaimed Property) 10,000,000 10,000,000 10,000,000 10,000,000 Tribal Gaming/HR Gaming 16,690,211 15,688,000 16,128,000 15,828,000 OPM 4,677,644 4,654,160 4,403,695 4,350,208 OSF 204,336 200,000 240,438 200,000 Other 9,476,111 0 0 0 TOTAL MISC 152,892,868 136,217,572 142,993,427 138,175,361 GRAND OTHER $216,926,068 $189,270,572 $196,654,427 $192,475,361 Office of State Finance 5 20 December 2011 COMPARISON OF REVENUE ESTIMATES Schedule 4 FY-2012 Final Estimate vs. Proposed FY-2013 Estimate Column 1 Column 2 Column 3 Column 4 Column 5 FY-2012 ESTIMATE 17-Jun-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 INCREASE OR (DECREASE) PERCENT CHANGE GENERAL REVENUE Alcohol Beverage Tax $23,057,000 $22,789,000 ($268,000) -1.2% Mixed Beverage Receipts Tax 36,540,000 39,919,000x 3,379,000 9.2% Beverage Tax 26,318,000 26,612,000 294,000 1.1% Cigarette Tax 56,491,510 48,106,942 (8,384,568) -14.8% Tobacco Products Tax 17,518,215 23,529,159 6,010,945 34.3% Franchise Tax/Business Activity Tax 45,073,000 49,720,000 4,647,000 10.3% Gross Production Tax-Gas 333,110,000 267,304,000 (65,806,000) -19.8% Gross Production Tax-Oil 185,643,000 195,075,000 9,432,000 5.1% Income Tax-Individual 1,829,463,079 1,972,911,102 143,448,023 7.8% Income Tax-Corporate 202,812,075 270,291,325 67,479,250 33.3% Estate Tax 0 0 0 0.0% Insurance Premium tax 66,441,362 75,554,580 9,113,218 13.7% Motor Vehicle Taxes 221,280,000 209,586,000 (11,694,000) -5.3% Sales Tax 1,747,397,999 1,877,035,303 129,637,304 7.4% Use Tax 158,859,000 187,025,537 28,166,537 17.7% Interest & Investments 96,000,000 83,000,000 (13,000,000) -13.5% Other (Schedule 3) 189,270,572 192,475,361 3,204,789 1.7% General Revenue Totals $5,235,274,811 $5,540,934,309 $305,659,498 5.8% Transfers & Lapses 1,000,000 1,000,000 0 0.0% Revenue Comparison $5,236,274,811 $5,541,934,309 $305,659,498 5.8% One-Time Receipts 0 0 0 0.0% Total General Revenue $5,236,274,811 $5,541,934,309 $305,659,498 5.8% C.L.E.E.T. $3,396,384 $3,368,528 ($27,856) -0.8% COMM of LAND OFFICE $10,432,906 $16,905,916 $6,473,010 62% MINERAL LEASING $3,000,000 $4,000,000 $1,000,000 33.3% SPECIAL OCCUPATIONAL HEALTH & SAFETY $1,548,5000 $2,500,000 $951,500 61.4% PUBLIC BUILDING $1,457,280 $1,757,280 $300,000 20.6% OK EDUCATION LOTTERY TRUST FUND $60,587,100 $60,522,350 ($64,750) -0.1% GRAND TOTAL $5,316,696,981 $5,630,988,383 $314,291,402 5.9% Office of State Finance 6 20 December 2011 COMPARISON OF REVENUE ESTIMATES Schedule 5 FY-2012 Projection vs. Proposed FY-2013 Estimate Column 1 Column 2 Column 3 Column 4 Column 5 FY-2012 PROJECTED 20-DEC-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 INCREASE OR (DECREASE) PERCENT CHANGE GENERAL REVENUE Alcohol Beverage Tax $22,244,000 $22,789,000 $545,000 2.5% Mixed Beverage Receipts Tax 38,105,000 39,919,000 1,814,000 4.8% Beverage Tax 25,960,000 26,612,000 652,000 2.5% Cigarette Tax 45,731,124 48,106,942 2,375,818 5.2% Tobacco Products Tax 21,779,070 23,529,159 1,750,089 8.0% Franchise Tax/Business Activity Tax 49,720,000 49,720,000 0 0.0% Gross Production Tax-Gas 308,339,000 267,304,000 (41,035,000) -13.3% Gross Production Tax-Oil 234,753,000 195,075,000 (39,678,000) -16.9% Income Tax-Individual 1,912,165,239 1,972,911,102 60,745,863 3.2% Income Tax-Corporate 263,017,950 270,291,325 7,273,375 2.8% Estate Tax 0 0 0 0.0% Insurance Premium tax 75,554,580 75,554,580 0 0.0% Motor Vehicle Taxes 215,497,000 209,586,000 (5,911,000) -2.7% Sales Tax 1,796,073,232 1,877,035,303 80,962,071 4.5% Use Tax 173,075,208 187,025,537 13,950,329 8.1% Interest & Investments 80,000,000 83,000,000 3,000,000 3.8% Other (Schedule 3) 196,654,427 192,475,361 (4,179,067) -2.1% General Revenue Totals $5,458,668,832 $5,540,934,309 $82,265,477 1.5% Transfers & Lapses 1,000,000 1,000,000 0 0.0% Revenue Comparison $5,459,668,832 $5,541,934,309 $82,265,477 1.5% One-Time Receipts 0 0 0 0.0% Total General Revenue $5,459,668,832 $5,535,934,309 $76,265,477 1.4% C.L.E.E.T. $3,368,528 $3,368,528 $0 0.0% COMM of LAND OFFICE $14,050,030 $16,905,916 $2,855,886 20.3% MINERAL LEASING $4,000,000 $4,000,000 0 0.0 SPECIAL OCCUPATIONAL HEALTH & SAFETY $1,471,075 $2,500,000 $1,028,925 69.9% PUBLIC BUILDING $1,759,160 $1,757,280 ($1,800) -0.1% OK EDUCATION LOTTERY TRUST FUND $64,007,300 $60,522,350 ($3,484,950) -5.4% GRAND TOTAL $5,548,324,925 $5,630,988,383 $82,663,458 1.5% Office of State Finance 7 20 December 2011 COMPARISON OF REVENUE ESTIMATES Schedule 6 FY-2012 Official Estimate vs. FY-2012 Projection Column 1 Column 2 Column 3 Column 4 Column 5 FY-2012 ESTIMATE 17-Jun-11 FY-2012 PROJECTED 20-Dec-11 INCREASE OR (DECREASE) PERCENT CHANGE GENERAL REVENUE Alcohol Beverage Tax $23,057,000 $22,244,000 ($813,000) -3.5% Mixed Beverage Receipts Tax 36,540,000 38,105,000 1,565,000 4.3% Beverage Tax 26,318,000 25,960,000 (358,000) -1.4% Cigarette Tax 56,491,510 45,731,124 (10,760,386) -19.0% Tobacco Products Tax 17,518,215 21,779,070 4,260,856 24.3% Franchise Tax/Business Activity Tax 45,073,000 49,720,000 4,647,000 10.3% Gross Production Tax-Gas 333,110,000 308,339,000 (24,771,000) -7.4% Gross Production Tax-Oil 185,643,000 234,753,000 49,110,000 26.5% Income Tax-Individual 1,829,463,079 1,912,165,239 82,702,160 4.5% Income Tax-Corporate 202,812,075 263,017,950 60,205,875 29.7% Estate Tax 0 0 0 0.0% Insurance Premium tax 66,441,362 75,554,580 9,113,218 13.7% Motor Vehicle Taxes 221,280,000 215,497,000 (5,783,000) -2.6% Sales Tax 1,747,397,999 1,796,073,232 48,675,233 2.8% Use Tax 158,859,000 173,075,208 14,216,208 8.9% Interest & Investments 96,000,000 80,000,000 (16,000,000) -16.7% Other (Schedule 3) 189,270,572 196,654,427 7,383,855 3.9% General Revenue Totals $5,235,274,811 $5,458,668,832 $223,394,020 4.3% Transfers & Lapses 1,000,000 1,000,000 0 0.0% Revenue Comparison $5,236,274,811 $5,459,668,832 $223,394,020 4.3% One-Time Receipts 0 0 0 0.0% Total General Revenue $5,236,274,811 $5,459,668,832 $223,394,020 4.3% C.L.E.E.T. $3,396,384 $3,368,528 ($27,856) -0.8% COMM of LAND OFFICE $10,432,906 $14,050,030 $3,617,124 34.7% MINERAL LEASING $3,000,000 $4,000,000 $1,000,000 33.3% SPECIAL OCCUPATIONAL HEALTH & SAFETY $1,548,500 $1,471,075 ($77,425) -5.0% PUBLIC BUILDING $1,457,280 $1,759,160 $301,880 20.7% OK EDUCATION LOTTERY TRUST FUND $60,587,100 $64,007,300 $3,420,200 5.6% GRAND TOTAL $5,316,696,981 $5,548,324,925 $231,627,943 4.4% Office of State Finance 8 20 December 2011 Schedule 7 Education Reform Act – HB 1017 SB 826 of the Second Regular Session of the Forty-fifth Legislature amended Section 41.29a of Title 62 to require that The Office of Accountability account for and report monthly revenues which accrue to the Education Reform Revolving Fund. The Education Reform Revolving Fund on June 1, 1996, began receiving revenue attributable to the revenue provisions of HB 1017 rather than these revenues first being apportioned to the General Revenue Fund.. EDUCATION REFORM ACT Column 1 Column 2 Column 3 Column 4 Column 5 SOURCE FY-2011 ACTUAL FY-2012 ESTIMATE 17-Jun-11 FY2012 PROJECTED 20-Dec-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 5.25% Income Tax - Individual 199,882,166 $209,168,201 $217,220,221 $226,590,878 Income Tax - Corporate 58,405,392 43,179,345 55,997,370 57,545,895 Sales Tax 208,716,657 218,607,620 224,697,118 234,825,849 Use Tax 18,782,793 19,874,000 21,652,514 23,397,765 Cigarette Tax 3,093,137 2,907,626 3,251,784 3,524,279 Tobacco Products Tax 392,340 364,548 458,629 495,517 Tribal Gaming 122,394,881 115,312,000 118,272,000 116,072,000 Special License Plates 239 0 0 0 Business Activity Tax 462,900 0 502,750 502,750 TOTAL – 100% OF ESTIMATE $612,130,505 $609,413,339 $641,549,635 $662,452,182 Increase in FY-2013 proposed estimate over FY-2012 estimate $53,038,843 Office of State Finance 9 20 December 2011 LEGISLATED REVENUE ADJUSTMENTS Schedule 8 Legislated Revenue Adjustments: Informational ROADS Fund Apportionment Summary Column 1 Column 2 Column 3 Column 4 Column 5 Legislated Adjustments for FY-2010 and FY-2011: House Bill 2272, passed in the 2008 Legislative Session, amends Title 69, Section 1521 of the Oklahoma Highway Code. Effective July 1, 2009, for FY-2010, the Transportation Department will receive the total amount apportioned to the ROADS fund for the preceding fiscal year plus an additional $30 million each year until a cap of $370 million is reached. Legislated Apportionment Comparison: FY-2009 ESTIMATE 19-Feb-08 FY-2010 ESTIMATE 22-Dec-08 FY-2011 ESTIMATE 22-Dec-09 Apportionment to ROADS Fund $137,500,000 $155,000,000 $185,000,000 Additional ROADS Fund 17,500,000 30,000,000 30,000,000 OK Tourism & Passenger Rail Rev. Fund 2,000,000 2,000,000 2,000,000 Public Transit Rev. Fund 3,000,000 3,000,000 3,000,000 Total Apportionment from Individual. Income Tax $160,000,000 $190,000,000 $220,000,000 Legislated Adjustments for FY-2012 and FY-2013: Senate Bill 1466, passed in the 2010 Legislative Session, amends Title 69, Section 1521 of the Oklahoma Highway Code. Effective July 1, 2011 for FY-2012 and for each fiscal year thereafter, the Transportation Department will receive the total amount apportioned to the ROADS fund for the preceding fiscal year plus an additional $35.7 million each year until a cap of $400 million is reached. Senate Bill 976, passed in the 2011 Legislative Session, amends Title 69, Section 1521 of the Oklahoma Highway Code. Effective August 26, 2011 for FY-2013 and for each fiscal year thereafter, the Transportation Department will receive the total amount apportioned to the ROADS FUND for the preceding fiscal year plus an additional $41.7 million each year until a cap of $435 million is reached.. FY-2012 ESTIMATE 21-Dec-10 Proposed FY-2013 ESTIMATE 20-Dec-11 Apportionment to ROADS Fund $215,000,000 $250,700,000 Additional ROADS Fund 35,700,000 41,700,000 OK Tourism & Passenger Rail Rev. Fund 2,000,000 2,000,000 Public Transit Rev. Fund 3,000,000 3,000,000 Total Apportionment from Individual Income Tax $255,700,000 $297,400,000 Office of State Finance 10 20 December 2011 Appendix A-1 Comparison of Authorized Expenditures 2011 Session to Proposed Expenditure Authority 2012 Session Column 1 Column 2 Column 3 Column 4 Column 5 Authorized Expenditures* 2011 Session 17-Jun-11 FY-2012 Proposed Expenditure Authority** 2012 Session 20-Dec-11 FY-2013 Increase or (Decrease) Percent Change Non-Restricted Funds General Revenue Fund Certified 4,968,375,954 $5,264,837,594 $296,461,640 6.0% Prior Year Certified 7,767,495 6,085,117 (1,682,378) -21.7% Cash 41,873,389 94,981,649 53,108,260 126.8% TOTAL 5,018,016,838 $5,365,904,360 $347,887,522 6.9% C.L.E.E.T. Fund Certified 3,226,565 $3,200,102 ($26,463) -0.8% Cash 0 308,914 308,914 0.0% TOTAL 3,226,565 $3,509,016 $282,451 8.8% Mineral Leasing Fund Certified 2,850,000 $3,800,000 $950,000 33.3% Cash 0 576,503 576,503 0.0% TOTAL 2,850,000 $4,376,503 $1,526,503 53.6% OHSA Fund Certified 1,471,075 $2,375,000 $903,925 61.4% Cash 1,236,425 1,141,381 (95,044) -7.7% TOTAL 2,707,500 $3,516,381 $808,881 29.9% Public Building Fund Certified 1,384,416 $1,669,416 $285,000 20.6% Cash 1,039,907 3,846,690 2,806,783 269.9% TOTAL 2,424,323 $5,516,106 $3,091,783 127.5% Special Cash Fund Cash 357,298,121 $0 ($357,298,121) -100.0% 357,298,121 $0 ($357,298,121) -100.0% Bond Series- A 174 $5 ($169) -97.0% Bond Series - B 71 2 (69) -96.5% TOTAL 245 $8 ($237) -96.9% Subtotal Non-Restricted Funds $5,386,523,592 $5,382,822,374 ($3,701,218) -0.1% Office of State Finance 11 20 December 2011 Appendix A-1 (continued) Comparison of Authorized Expenditures 2011 Session to Proposed Expenditure Authority 2012 Session Column 1 Column 2 Column 3 Column 4 Column 5 Authorized Expenditures* 2011 Session 17-Jun-11 FY-2012 Proposed Expenditure Authority** 2012 Session 20-Dec-11 FY-2013 Increase or (Decrease) Percent Change Restricted Funds Commission of the Land Office Fund Certified 7,109,000 $16,060,620 $8,951,620 125.9% Prior Year Certified 0 2,802,261 2,802,261 0.0% Cash 0 0 0 0.0% TOTAL 7,109,000 $18,862,881 $11,753,881 165.3% OK Education Lottery Trust Fund Certified 57,557,744 $57,496,233 ($61,511) -0.1% Cash 6,599,564 7,843,356 1,243,792 18.8% TOTAL 64,157,308 $65,339,589 $1,182,281 1.8% Subtotal Restricted Funds 71,266,308 $84,202,470 $12,936,162 18.2% Total-Restricted & Non-Restricted $5,457,789,900 $5,467,024,845 $9,234,945 0.2% Common Ed. Tech Fund Revolving Fund Estimate $47,372,299 $47,372,299 ($0) 0.0% OK Student Aid Fund Revolving Fund Estimate $47,372,299 $47,372,299 1. ($0) 0.0% Higher Ed. Capital Fund Revolving Fund Estimate $47,372,299 $47,372,299 ($0) 0.0% 1017 Fund Revolving Fund Estimate $634,894,569 $662,452,182 $27,557,613 4.3% Tobacco Settlement Fund Revolving Fund Estimate $18,150,000 $5,000,000 ($13,150,000) -72.5% State Judicial Revolving Fund Revolving Fund Estimate $52,000,000 $49,000,000 ($3,000,000) -5.8% State Transportation Fund Revolving Fund Estimate $106,737,039 $206,405,702 $99,668,663 93.4% Total $6,411,688,405 $6,531,999,625 $120,311,220 1.9% *Authorized Expenditures represent the total amount actually spent by the Legislature. **Expenditure Authority represents the total amount that is available for the Legislature to spend. Office of State Finance 12 20 December 2011
Object Description
Okla State Agency | Finance, Oklahoma Office of State |
Okla Agency Code | '090' |
Title | State Board of Equalization proposed FY-- revenue certification |
Authors |
Oklahoma. State Board of Equalization. Oklahoma. Office of State Finance. |
Publisher | Oklahoma State Board of Equalization |
Publication Date | 2006; 2007; 2008; 2009; 2010; 2011; 2012; 2013 |
Publication type |
Financial Report Planning Document |
Serial holdings | Electronic holdings: 2006-2011 |
Subject | Tax revenue estimating--Oklahoma--Statistics. |
Notes | issues through 2011 |
OkDocs Class# | F750.3 E64c |
For all issues click | F750.3 E64c |
Digital Format | PDF, Adobe Acrobat required |
ODL electronic copy | Downloaded from agency website: www.osf.state.ok.us |
Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
Language | English |
Date created | 2010-01-06 |
Date modified | 2013-10-04 |
OCLC number | 192176189 |
Description
Title | 2011-12 BOE proposed certification |
OkDocs Class# | F750.3 E64c 12/20/2011 |
Digital Format | PDF, Adobe Reader required |
ODL electronic copy | Downloaded from agency website: http://ok.gov/OSF/documents/boe12202011.pdf |
Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
Language | English |
Full text | STATE BOARD OF EQUALIZATION PROPOSED FY-2013 REVENUE CERTIFICATION December 20, 2011 Shelly Paulk Office of State Finance TABLE OF CONTENTS Schedule 1 FY-2013 Funds to be Certified ........................................................................................................... 3 Schedule 2 Itemized Estimates of Revenue .......................................................................................................... 4 Schedule 3 Itemized Estimates of "Other" Revenues - General Revenue Fund ................................................... 5 Comparison of Revenue Estimates: Detail Schedule 4 FY-2012 Estimate vs. Proposed FY-2013 Estimate .......................................................................... 6 Schedule 5 FY-2012 Projection vs. Proposed FY-2013 Estimate ........................................................................ 7 Schedule 6 FY-2012 Estimate vs. FY-2012 Projection ....................................................................................... 8 Schedule 7 Education Reform Act – HB 1017 ....................................................................................................... 9 Schedule 8 Legislated Revenue Adjustments: Informational ROADS Fund Apportionment Summary ............... 10 Appendix A-1 Comparison of Authorized Expenditures 2011 Session to Proposed Expenditure Authority 2012 Session ........................................................................................................................................... 11 Office of State Finance 2 20 December 2011 Schedule 1 FY-2013 Funds to be Certified The summation of the itemized estimates of revenue, Schedule 2, and the amounts available for appropriation are proposed as the amounts to be certified by the State Board of Equalization in accordance with Section 23, Article X, Constitution of Oklahoma. The amounts proposed as available for appropriation are calculated as 95 percent (95%) of the summation of the itemized estimate of revenue for the respective funds. Column 1 Column 2 Column 3 TOTAL ESTIMATED COLLECTIONS APPROPRIATIONS AUTHORITY Proposed FY-2013 Estimates GENERAL REVENUE $5,541,934,309 $5,264,837,594 C.L.E.E.T. $3,368,528 $3,200,102 COMMISSIONERS OF THE LAND OFFICE $16,905,916 $16,060,620 MINERAL LEASING $4,000,000 $3,800,000 SPECIAL OCCUPATIONAL HEALTH & SAFETY $2,500,000 $2,375,000 PUBLIC BUILDING $1,757,280 $1,669,416 OK EDUCATION LOTTERY TRUST FUND $60,522,350 $57,496,233 TOTALS $5,630,988,383 $5,349,438,965 Office of State Finance 3 20 December 2011 Schedule 2 Itemized Estimates of Revenue The itemized estimate of revenues displayed in this schedule represents 100% of the estimate for the General Revenue Fund and the Special Revenue Funds to be appropriated by the Legislature for the fiscal year ending June 30, 2013 (FY-2013) and are the basis for the summation proposed for certification in Schedule 1. For informational purposes the FY-2013 estimates of revenues are compared to both the itemized estimates and the projections of revenues for the current fiscal year (FY-2012). Column 1 Column 2 Column 3 Column 4 Column 5 FUND NAME FY-2011 ACTUAL FY-2012 ESTIMATE 17-June-11 FY2012 PROJECTED 20-Dec-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 GENERAL REVENUE Alcohol Beverage Tax $21,882,525 $23,057,000 $22,244,000 $22,789,000 Mixed Beverage Receipts Tax 35,615,638 36,540,000 38,105,000 39,919,000 Beverage Tax 25,010,953 26,318,000 25,960,000 26,612,000 Cigarette Tax 67,282,028 56,491,510 45,731,124 48,106,942 Tobacco Products Tax 18,531,962 17,518,215 21,779,070 23,529,159 Franchise Tax/Business Activity Tax 29,144,157 45,073,000 49,720,000 49,720,000 Gross Production Tax-Gas 275,913,167 333,110,000 308,339,000 267,304,000 Gross Production Tax-Oil 212,545,738 185,643,079 234,753,000 195,075,000 Income Tax-Individual 1,775,100,943* 1,829,463,079* 1,912,165,239* 1,972,911,102* Income Tax-Corporate 274,238,355 202,812,075 263,017,950 270,291,325 Estate Tax 5,725,078 0 0 0 Insurance Premium Tax 81,652,995 66,441,362 75,554,580 75,554,580 Motor Vehicle Taxes 198,592,883 221,280,000 215,497,000 209,586,000 Sales Tax 1,668,336,492 1,747,397,999 1,796,073,232 1,877,035,303 Use Tax 150,136,643 158,859,000 173,075,208 187,025,537 Interest & Investments 80,484,928 96,000,000 80,000,000 83,000,000 Other (Schedule 4) 216,926,068 189,270,572 196,654,427 192,475,361 General Revenue Totals $5,137,210,551 $5,235,274,811 $5,458,668,832 $5,540,934,309 Transfers & Lapses 598,781 1,000,000 1,000,000 1,000,000 Revenue Comparison $5,137,809,332 $5,236,274,811 $5,459,668,832 $5,541,934,309 One-Time Receipts 0 0 0 0 Total General Revenue $5,137,809,332 $5,236,274,811 $5,459,668,832 $5,541,934,309 C.L.E.E.T. $3,435,654 $3,396,384 $3,368,528 $3,368,528 COMM of LAND OFFICE $17,981,316 $10,432,906 $14,050,030 $16,905,916 MINERAL LEASING $4,219,632 3,000,000 4,000,000 4,000,000 SPECIAL OCCUPATIONAL HEALTH & SAFETY 2,675,625 1,548,500 1,471,075 2,500,000 PUBLIC BUILDING 5,539,312 1,457,280 1,759,160 1,757,280 OK EDUCATION LOTTERY TRUST FUND 69,396,091 60,587,100 64,007,300 60,522,350 GRAND TOTAL $5,240,876,961 $5,316,696,981 $5,548,324,925 $5,630,988,383 *In compliance with Section 34.87 of Title 62 of the Oklahoma Statutes, the State Regents for Higher Education has requested $63m for funding of Oklahoma's Promise scholarship fund. Action taken by the Board reduced the amount of money allocated from state funds to $57,000,000 which has been removed from the FY-2013 Individual Income Tax Estimate. Any additional scholarship funding required is to come from the OHLAP Trust Fund which holds a current reserve balance of $14.5 million. $63.2m was funded for FY-2012 and $57m for FY-2011 and both amounts have been removed from the respective individual income tax numbers. Office of State Finance 4 20 December 2011 Schedule 3 Itemized Estimates of "Other" Revenues - General Revenue Fund Column 1 Column 2 Column 3 Column 4 Column 5 FY-2011 ACTUAL FY-2012 ESTIMATE 17-Jun-11 FY2012 PROJECTED 20-Dec-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 OTC: Pari-Mutuel 1,130,420 1,215,000 1,215,000 1,215,000 Tribal Cigarette Compacts 13,855,903 14,036,000 13,134,000 13,068,000 Bingo Excise & Charity Games 165,803 197,000 174,000 183,000 Workers Comp Ins. Premium Tax 8,806,054 7,026,000 8,280,000 8,317,000 Petroleum Excise Tax 10,844,996 9,131,000 9,632,000 9,982,000 Other OTC 29,230,023 21,448,000 21,226,000 21,535,000 TOTAL OTC $64,033,199 $53,053,000 $53,661,000 $54,300,000 COLLECTIONS BY OTHER AGENCIES ABLE 5,442,073 5,232,138 5,457,115 5,490,676 Attorney General 21,280 21,000 4,824,715 390,000 Central Services 434,139 1,051,209 855,645 505,295 CLEET 597,916 611,266 601,397 601,097 Consumer Credit 856,646 684,094 817,086 817,086 DPS 44,453,276 46,753,710 44,075,739 44,372,782 Employees Benefit Council 1,173,119 1,547,309 1,173,119 1,173,119 Horseracing 524,204 409,225 409,225 409,225 Insurance Comm 39,393,971 32,921,921 35,515,321 35,515,321 Labor 976,095 979,850 976,095 976,095 Medical Licensure 350,376 220,000 250,000 220,000 Nursing Board 303,157 301,818 301,818 304,846 Sec of State 2,714,634 2,267,000 2,636,409 2,684,000 Securities Comm 14,603,680 12,674,872 14,327,611 14,337,611 Treasurer (Unclaimed Property) 10,000,000 10,000,000 10,000,000 10,000,000 Tribal Gaming/HR Gaming 16,690,211 15,688,000 16,128,000 15,828,000 OPM 4,677,644 4,654,160 4,403,695 4,350,208 OSF 204,336 200,000 240,438 200,000 Other 9,476,111 0 0 0 TOTAL MISC 152,892,868 136,217,572 142,993,427 138,175,361 GRAND OTHER $216,926,068 $189,270,572 $196,654,427 $192,475,361 Office of State Finance 5 20 December 2011 COMPARISON OF REVENUE ESTIMATES Schedule 4 FY-2012 Final Estimate vs. Proposed FY-2013 Estimate Column 1 Column 2 Column 3 Column 4 Column 5 FY-2012 ESTIMATE 17-Jun-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 INCREASE OR (DECREASE) PERCENT CHANGE GENERAL REVENUE Alcohol Beverage Tax $23,057,000 $22,789,000 ($268,000) -1.2% Mixed Beverage Receipts Tax 36,540,000 39,919,000x 3,379,000 9.2% Beverage Tax 26,318,000 26,612,000 294,000 1.1% Cigarette Tax 56,491,510 48,106,942 (8,384,568) -14.8% Tobacco Products Tax 17,518,215 23,529,159 6,010,945 34.3% Franchise Tax/Business Activity Tax 45,073,000 49,720,000 4,647,000 10.3% Gross Production Tax-Gas 333,110,000 267,304,000 (65,806,000) -19.8% Gross Production Tax-Oil 185,643,000 195,075,000 9,432,000 5.1% Income Tax-Individual 1,829,463,079 1,972,911,102 143,448,023 7.8% Income Tax-Corporate 202,812,075 270,291,325 67,479,250 33.3% Estate Tax 0 0 0 0.0% Insurance Premium tax 66,441,362 75,554,580 9,113,218 13.7% Motor Vehicle Taxes 221,280,000 209,586,000 (11,694,000) -5.3% Sales Tax 1,747,397,999 1,877,035,303 129,637,304 7.4% Use Tax 158,859,000 187,025,537 28,166,537 17.7% Interest & Investments 96,000,000 83,000,000 (13,000,000) -13.5% Other (Schedule 3) 189,270,572 192,475,361 3,204,789 1.7% General Revenue Totals $5,235,274,811 $5,540,934,309 $305,659,498 5.8% Transfers & Lapses 1,000,000 1,000,000 0 0.0% Revenue Comparison $5,236,274,811 $5,541,934,309 $305,659,498 5.8% One-Time Receipts 0 0 0 0.0% Total General Revenue $5,236,274,811 $5,541,934,309 $305,659,498 5.8% C.L.E.E.T. $3,396,384 $3,368,528 ($27,856) -0.8% COMM of LAND OFFICE $10,432,906 $16,905,916 $6,473,010 62% MINERAL LEASING $3,000,000 $4,000,000 $1,000,000 33.3% SPECIAL OCCUPATIONAL HEALTH & SAFETY $1,548,5000 $2,500,000 $951,500 61.4% PUBLIC BUILDING $1,457,280 $1,757,280 $300,000 20.6% OK EDUCATION LOTTERY TRUST FUND $60,587,100 $60,522,350 ($64,750) -0.1% GRAND TOTAL $5,316,696,981 $5,630,988,383 $314,291,402 5.9% Office of State Finance 6 20 December 2011 COMPARISON OF REVENUE ESTIMATES Schedule 5 FY-2012 Projection vs. Proposed FY-2013 Estimate Column 1 Column 2 Column 3 Column 4 Column 5 FY-2012 PROJECTED 20-DEC-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 INCREASE OR (DECREASE) PERCENT CHANGE GENERAL REVENUE Alcohol Beverage Tax $22,244,000 $22,789,000 $545,000 2.5% Mixed Beverage Receipts Tax 38,105,000 39,919,000 1,814,000 4.8% Beverage Tax 25,960,000 26,612,000 652,000 2.5% Cigarette Tax 45,731,124 48,106,942 2,375,818 5.2% Tobacco Products Tax 21,779,070 23,529,159 1,750,089 8.0% Franchise Tax/Business Activity Tax 49,720,000 49,720,000 0 0.0% Gross Production Tax-Gas 308,339,000 267,304,000 (41,035,000) -13.3% Gross Production Tax-Oil 234,753,000 195,075,000 (39,678,000) -16.9% Income Tax-Individual 1,912,165,239 1,972,911,102 60,745,863 3.2% Income Tax-Corporate 263,017,950 270,291,325 7,273,375 2.8% Estate Tax 0 0 0 0.0% Insurance Premium tax 75,554,580 75,554,580 0 0.0% Motor Vehicle Taxes 215,497,000 209,586,000 (5,911,000) -2.7% Sales Tax 1,796,073,232 1,877,035,303 80,962,071 4.5% Use Tax 173,075,208 187,025,537 13,950,329 8.1% Interest & Investments 80,000,000 83,000,000 3,000,000 3.8% Other (Schedule 3) 196,654,427 192,475,361 (4,179,067) -2.1% General Revenue Totals $5,458,668,832 $5,540,934,309 $82,265,477 1.5% Transfers & Lapses 1,000,000 1,000,000 0 0.0% Revenue Comparison $5,459,668,832 $5,541,934,309 $82,265,477 1.5% One-Time Receipts 0 0 0 0.0% Total General Revenue $5,459,668,832 $5,535,934,309 $76,265,477 1.4% C.L.E.E.T. $3,368,528 $3,368,528 $0 0.0% COMM of LAND OFFICE $14,050,030 $16,905,916 $2,855,886 20.3% MINERAL LEASING $4,000,000 $4,000,000 0 0.0 SPECIAL OCCUPATIONAL HEALTH & SAFETY $1,471,075 $2,500,000 $1,028,925 69.9% PUBLIC BUILDING $1,759,160 $1,757,280 ($1,800) -0.1% OK EDUCATION LOTTERY TRUST FUND $64,007,300 $60,522,350 ($3,484,950) -5.4% GRAND TOTAL $5,548,324,925 $5,630,988,383 $82,663,458 1.5% Office of State Finance 7 20 December 2011 COMPARISON OF REVENUE ESTIMATES Schedule 6 FY-2012 Official Estimate vs. FY-2012 Projection Column 1 Column 2 Column 3 Column 4 Column 5 FY-2012 ESTIMATE 17-Jun-11 FY-2012 PROJECTED 20-Dec-11 INCREASE OR (DECREASE) PERCENT CHANGE GENERAL REVENUE Alcohol Beverage Tax $23,057,000 $22,244,000 ($813,000) -3.5% Mixed Beverage Receipts Tax 36,540,000 38,105,000 1,565,000 4.3% Beverage Tax 26,318,000 25,960,000 (358,000) -1.4% Cigarette Tax 56,491,510 45,731,124 (10,760,386) -19.0% Tobacco Products Tax 17,518,215 21,779,070 4,260,856 24.3% Franchise Tax/Business Activity Tax 45,073,000 49,720,000 4,647,000 10.3% Gross Production Tax-Gas 333,110,000 308,339,000 (24,771,000) -7.4% Gross Production Tax-Oil 185,643,000 234,753,000 49,110,000 26.5% Income Tax-Individual 1,829,463,079 1,912,165,239 82,702,160 4.5% Income Tax-Corporate 202,812,075 263,017,950 60,205,875 29.7% Estate Tax 0 0 0 0.0% Insurance Premium tax 66,441,362 75,554,580 9,113,218 13.7% Motor Vehicle Taxes 221,280,000 215,497,000 (5,783,000) -2.6% Sales Tax 1,747,397,999 1,796,073,232 48,675,233 2.8% Use Tax 158,859,000 173,075,208 14,216,208 8.9% Interest & Investments 96,000,000 80,000,000 (16,000,000) -16.7% Other (Schedule 3) 189,270,572 196,654,427 7,383,855 3.9% General Revenue Totals $5,235,274,811 $5,458,668,832 $223,394,020 4.3% Transfers & Lapses 1,000,000 1,000,000 0 0.0% Revenue Comparison $5,236,274,811 $5,459,668,832 $223,394,020 4.3% One-Time Receipts 0 0 0 0.0% Total General Revenue $5,236,274,811 $5,459,668,832 $223,394,020 4.3% C.L.E.E.T. $3,396,384 $3,368,528 ($27,856) -0.8% COMM of LAND OFFICE $10,432,906 $14,050,030 $3,617,124 34.7% MINERAL LEASING $3,000,000 $4,000,000 $1,000,000 33.3% SPECIAL OCCUPATIONAL HEALTH & SAFETY $1,548,500 $1,471,075 ($77,425) -5.0% PUBLIC BUILDING $1,457,280 $1,759,160 $301,880 20.7% OK EDUCATION LOTTERY TRUST FUND $60,587,100 $64,007,300 $3,420,200 5.6% GRAND TOTAL $5,316,696,981 $5,548,324,925 $231,627,943 4.4% Office of State Finance 8 20 December 2011 Schedule 7 Education Reform Act – HB 1017 SB 826 of the Second Regular Session of the Forty-fifth Legislature amended Section 41.29a of Title 62 to require that The Office of Accountability account for and report monthly revenues which accrue to the Education Reform Revolving Fund. The Education Reform Revolving Fund on June 1, 1996, began receiving revenue attributable to the revenue provisions of HB 1017 rather than these revenues first being apportioned to the General Revenue Fund.. EDUCATION REFORM ACT Column 1 Column 2 Column 3 Column 4 Column 5 SOURCE FY-2011 ACTUAL FY-2012 ESTIMATE 17-Jun-11 FY2012 PROJECTED 20-Dec-11 PROPOSED FY-2013 ESTIMATE 20-Dec-11 5.25% Income Tax - Individual 199,882,166 $209,168,201 $217,220,221 $226,590,878 Income Tax - Corporate 58,405,392 43,179,345 55,997,370 57,545,895 Sales Tax 208,716,657 218,607,620 224,697,118 234,825,849 Use Tax 18,782,793 19,874,000 21,652,514 23,397,765 Cigarette Tax 3,093,137 2,907,626 3,251,784 3,524,279 Tobacco Products Tax 392,340 364,548 458,629 495,517 Tribal Gaming 122,394,881 115,312,000 118,272,000 116,072,000 Special License Plates 239 0 0 0 Business Activity Tax 462,900 0 502,750 502,750 TOTAL – 100% OF ESTIMATE $612,130,505 $609,413,339 $641,549,635 $662,452,182 Increase in FY-2013 proposed estimate over FY-2012 estimate $53,038,843 Office of State Finance 9 20 December 2011 LEGISLATED REVENUE ADJUSTMENTS Schedule 8 Legislated Revenue Adjustments: Informational ROADS Fund Apportionment Summary Column 1 Column 2 Column 3 Column 4 Column 5 Legislated Adjustments for FY-2010 and FY-2011: House Bill 2272, passed in the 2008 Legislative Session, amends Title 69, Section 1521 of the Oklahoma Highway Code. Effective July 1, 2009, for FY-2010, the Transportation Department will receive the total amount apportioned to the ROADS fund for the preceding fiscal year plus an additional $30 million each year until a cap of $370 million is reached. Legislated Apportionment Comparison: FY-2009 ESTIMATE 19-Feb-08 FY-2010 ESTIMATE 22-Dec-08 FY-2011 ESTIMATE 22-Dec-09 Apportionment to ROADS Fund $137,500,000 $155,000,000 $185,000,000 Additional ROADS Fund 17,500,000 30,000,000 30,000,000 OK Tourism & Passenger Rail Rev. Fund 2,000,000 2,000,000 2,000,000 Public Transit Rev. Fund 3,000,000 3,000,000 3,000,000 Total Apportionment from Individual. Income Tax $160,000,000 $190,000,000 $220,000,000 Legislated Adjustments for FY-2012 and FY-2013: Senate Bill 1466, passed in the 2010 Legislative Session, amends Title 69, Section 1521 of the Oklahoma Highway Code. Effective July 1, 2011 for FY-2012 and for each fiscal year thereafter, the Transportation Department will receive the total amount apportioned to the ROADS fund for the preceding fiscal year plus an additional $35.7 million each year until a cap of $400 million is reached. Senate Bill 976, passed in the 2011 Legislative Session, amends Title 69, Section 1521 of the Oklahoma Highway Code. Effective August 26, 2011 for FY-2013 and for each fiscal year thereafter, the Transportation Department will receive the total amount apportioned to the ROADS FUND for the preceding fiscal year plus an additional $41.7 million each year until a cap of $435 million is reached.. FY-2012 ESTIMATE 21-Dec-10 Proposed FY-2013 ESTIMATE 20-Dec-11 Apportionment to ROADS Fund $215,000,000 $250,700,000 Additional ROADS Fund 35,700,000 41,700,000 OK Tourism & Passenger Rail Rev. Fund 2,000,000 2,000,000 Public Transit Rev. Fund 3,000,000 3,000,000 Total Apportionment from Individual Income Tax $255,700,000 $297,400,000 Office of State Finance 10 20 December 2011 Appendix A-1 Comparison of Authorized Expenditures 2011 Session to Proposed Expenditure Authority 2012 Session Column 1 Column 2 Column 3 Column 4 Column 5 Authorized Expenditures* 2011 Session 17-Jun-11 FY-2012 Proposed Expenditure Authority** 2012 Session 20-Dec-11 FY-2013 Increase or (Decrease) Percent Change Non-Restricted Funds General Revenue Fund Certified 4,968,375,954 $5,264,837,594 $296,461,640 6.0% Prior Year Certified 7,767,495 6,085,117 (1,682,378) -21.7% Cash 41,873,389 94,981,649 53,108,260 126.8% TOTAL 5,018,016,838 $5,365,904,360 $347,887,522 6.9% C.L.E.E.T. Fund Certified 3,226,565 $3,200,102 ($26,463) -0.8% Cash 0 308,914 308,914 0.0% TOTAL 3,226,565 $3,509,016 $282,451 8.8% Mineral Leasing Fund Certified 2,850,000 $3,800,000 $950,000 33.3% Cash 0 576,503 576,503 0.0% TOTAL 2,850,000 $4,376,503 $1,526,503 53.6% OHSA Fund Certified 1,471,075 $2,375,000 $903,925 61.4% Cash 1,236,425 1,141,381 (95,044) -7.7% TOTAL 2,707,500 $3,516,381 $808,881 29.9% Public Building Fund Certified 1,384,416 $1,669,416 $285,000 20.6% Cash 1,039,907 3,846,690 2,806,783 269.9% TOTAL 2,424,323 $5,516,106 $3,091,783 127.5% Special Cash Fund Cash 357,298,121 $0 ($357,298,121) -100.0% 357,298,121 $0 ($357,298,121) -100.0% Bond Series- A 174 $5 ($169) -97.0% Bond Series - B 71 2 (69) -96.5% TOTAL 245 $8 ($237) -96.9% Subtotal Non-Restricted Funds $5,386,523,592 $5,382,822,374 ($3,701,218) -0.1% Office of State Finance 11 20 December 2011 Appendix A-1 (continued) Comparison of Authorized Expenditures 2011 Session to Proposed Expenditure Authority 2012 Session Column 1 Column 2 Column 3 Column 4 Column 5 Authorized Expenditures* 2011 Session 17-Jun-11 FY-2012 Proposed Expenditure Authority** 2012 Session 20-Dec-11 FY-2013 Increase or (Decrease) Percent Change Restricted Funds Commission of the Land Office Fund Certified 7,109,000 $16,060,620 $8,951,620 125.9% Prior Year Certified 0 2,802,261 2,802,261 0.0% Cash 0 0 0 0.0% TOTAL 7,109,000 $18,862,881 $11,753,881 165.3% OK Education Lottery Trust Fund Certified 57,557,744 $57,496,233 ($61,511) -0.1% Cash 6,599,564 7,843,356 1,243,792 18.8% TOTAL 64,157,308 $65,339,589 $1,182,281 1.8% Subtotal Restricted Funds 71,266,308 $84,202,470 $12,936,162 18.2% Total-Restricted & Non-Restricted $5,457,789,900 $5,467,024,845 $9,234,945 0.2% Common Ed. Tech Fund Revolving Fund Estimate $47,372,299 $47,372,299 ($0) 0.0% OK Student Aid Fund Revolving Fund Estimate $47,372,299 $47,372,299 1. ($0) 0.0% Higher Ed. Capital Fund Revolving Fund Estimate $47,372,299 $47,372,299 ($0) 0.0% 1017 Fund Revolving Fund Estimate $634,894,569 $662,452,182 $27,557,613 4.3% Tobacco Settlement Fund Revolving Fund Estimate $18,150,000 $5,000,000 ($13,150,000) -72.5% State Judicial Revolving Fund Revolving Fund Estimate $52,000,000 $49,000,000 ($3,000,000) -5.8% State Transportation Fund Revolving Fund Estimate $106,737,039 $206,405,702 $99,668,663 93.4% Total $6,411,688,405 $6,531,999,625 $120,311,220 1.9% *Authorized Expenditures represent the total amount actually spent by the Legislature. **Expenditure Authority represents the total amount that is available for the Legislature to spend. Office of State Finance 12 20 December 2011 |
Date created | 2011-12-22 |
Date modified | 2011-12-22 |