Proposed Budget - Fiscal Year 2024
On February 6, Oklahoma Governor Kevin Stitt released his recommended budget for fiscal 2024. The recommended budget totals $11.4 billion which is an increase of $1.2 billion, or 11.8 percent, from fiscal 2023 authorized expenditures. Agency appropriations for fiscal 2024 are recommended at $10.06 billion which is a 6.9 percent decrease, or $746 million, from fiscal 2023. For the certified general revenue fund, the fiscal 2024 expenditure authority is projected at $8.67 billion, an increase of 26.22 percent over fiscal 2023 actual expenditures. In the proposed budget, total unspent cash and reserve funds are $2.97 billion. This includes a Constitutional Reserve Fund (Rainy Day Fund) balance of $1.05 billion, a Revenue Stabilization Fund balance of $397 million, and a proposed balance in the new Oklahoma Legacy Fund of $1.0 billion.