“We need to recognize the budget numbers presented this morning for what they are – estimates based on an economy that is growing, in great part, due to the latest energy boom in Oklahoma. To forget the lessons of the past would be reckless and irresponsible.
“We must take a responsible approach and proceed carefully, choosing first to keep the commitments we have already made and then to invest in our priorities of education, health care, public safety and our state’s crumbling roads and bridges.
“We have the opportunity to take bold steps to make tomorrow better for our children, but we must budget responsibly, knowing that this energy boom, like others before it, won’t last forever. One-time revenue windfalls should not be used for recurring expenses, but rather viewed as an opportunity to make one-time investments in Oklahoma’s future.”
Note to editors: The State Board of Equalization today certified the initial estimates for revenue in Fiscal Year 2007. The estimates include $314 million in growth revenue. The Office of State Finance is also projecting surplus Fiscal Year 2006 revenue of $445 million. Final certification will come in February.