FY- -2025 Revenue Certification
Involving revenue certification for FY-2025, the document details budgetary impacts, fund expenditure authority versus actual expenditures, and legislative changes affecting revenue.
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Presentation Transcript
FY FY- -2025 Revenue 2025 Revenue Certification Certification June 17, 2024
2024 SESSION LAW CHANGES REVENUE IMPACT TO FUNDS TRS State Transpor tation Fund FY-2025 GRF (95%) FY-2025 1017 Fund Dedicated Revenue Fund Legislation SB1955 - Eliminates State Sales Tax on Groceries ($243,988,176) ($32,226,946) ($16,175,093) SB 1445 Oklahoma State University Sales Tax exemption ($18,214) ($2,406) ($1,208) HB1600 Sales Tax Exemption Digital Assets Mining ($320,728) ($42,363) ($21,263) SB 1403 County Road Apportionment ($8,449,287) HB 3031 Fuel Tax Exemption for Oklahoma Ambulance Districts ($40,650) ($89,740) Total Budgetary Impacts by Fund ($ 252,817,055) ($32,271,715) ($ 16,197,564) ($ 89,740) *For more detail, see Schedule 5. GRF only state certified fund impacted.
Certified Funds FY-2025 Expenditure Authority vs. Certified Funds FY-2025 Authorized Expenditures Difference ($M s) ( + OVERSPENT/ - UNDERSPENT) 2024 Session FY25 Authority (June, in $millions) 2024 Session FY25 Expenditures (June, in $millions) Difference (%) Fund Name General Revenue $8,094.7 $8,052.2 ($42.5) (0.5%) C.L.E.E.T. 2.4 2.4 0.0 (0.0)% Commissioners of Land Office 11.5 6.7 (4.8) (41.7%) Mineral Leasing 4.5 4.5 0.0 0.0% OK ED Lottery Trust 61.8 61.8 0.0 0.0% Public Building 2.3 2.3 0.0 0.0% Occupational Health and Safety 1.1 1.1 0.0 0.0% Alcoholic Beverage Control 13.8 13.8 0.0 0.0% Health Care Enhancement Fund 117.4 117.4 0.0 0.0% Oklahoma Pension Improvement 0.2 0 (0.2) n/a State Public Safety 23.3 23.3 0.0 0.0% State Certified Fund Total 8,333.0 8,285.5 (47.5) (0.6%) (ARPA Federal Funds) $103.8 $12.3 (91.5) (88.2%) *For more details, See Appendix A-2, pages 11 and 12. Sums are rounded.
Board Action- Certification of FY-2025 Estimate Page 1: Columns 2 and 3 Move to certify the FY-2025 revenue estimate of state certified funds of $8,771,414,286 and appropriations authority of $8,332,843,572 and federal funds available for appropriation of $103,767,957
