[Cobo] FY09 Budget Reductions

[Mauck, Sheri]

In accordance with 70 O.S. 2000 Supp., §3903(g), allotments to institutions will be reduced for the month of June for the current fiscal year (FY09) by an annualized 1.44 percent, the same percentage applied to most other state agencies.  

 

Upon receipt of notice from the Director of State Finance of a necessary reduction in the consolidated, or lump-sum appropriation, to meet a failure in revenue, the State Regents shall immediately take action to control the approval of subsequent allotment requests sufficient to make the aggregate reduction in allotments of all constituent institutions under their control equal the amount of reduction ordered against the lump-sum appropriation made by the Legislature.  Such reductions against the lump-sum appropriation shall not exceed the percentage reduction ordered against other agencies of the state, in accordance with Section 23 or Article X of the Oklahoma Constitution.

 

The reduced allotment will apply to the General Revenue allotted to each institution, as shown on the attached schedule.  Please submit a budget revision incorporating the reduced allotments of state general revenue appropriations to this office by June 19, 2009.  Please also file the reduction in the Office of State Finance's Core Budgeting System. The State Regents will be asked to ratify the reduced allotments at the meeting of June 25 and authorize the Chancellor to approve and transmit the revised budgets for ratification.

 

A formal notification letter will be sent to your Presidents next week.  

 

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