OKLAHOMA CITY (AP) -- Gov. Brad Henry says he plans to make surgical cuts to state agency budgets to deal with a projected $309 million decline in state revenue next year.
The Board of Equalization on Monday certified the state Legislature's expenditure authority of about $6.8 billion for the fiscal year that begins July 1. That's a decrease of 4.4% from the current year's $7.1 billion budget.
State revenue officials say a combination of declining energy prices and the nation's slowing economy are responsible for the revenue decline.
In spite of the downturn, Henry says he sees no need for worker furloughs or across-the-board cuts to state agencies. But, he says it will be difficult to find money for teacher and state worker pay raises.