[Cobo] FW: Oil Gross Production Update – Second Revenue Reduction

[Mauck, Sheri]

From: Paliotta, Amanda
Sent: Thursday, March 10, 2016 11:21 AM
To: Mauck, Sheri
Subject: FW: Oil Gross Production Update – Second Revenue Reduction

Please forward the email from the Chancellor and the attached spreadsheet to the Business Officers.  Thank you.

From: Johnson, Dr. Glen
Sent: Thursday, March 10, 2016 11:18 AM
To: Presidents; Leaming, Adam; Mills, Dr. Steve; Mosley, Terry
Cc: Holloway, Ann; Ann Holloway; Harrel, James; Glass, Marlin; Jay Helm; Helm, Jay; Massey, John; Parker, Joseph; John Massey (jmassey at firstunitedbank.com<mailto:jmassey at firstunitedbank.com>); Joseph L Parker (jody at anchorstoneco.com<mailto:jody at anchorstoneco.com>); Mike Turpen (mturpen at att.blackberry.net<mailto:mturpen at att.blackberry.net>); Turpen, Mike; Regent Marlin (Ike) Glass (5803626225 at netfax.osrhe.edu<mailto:5803626225 at netfax.osrhe.edu>); White, Ronald; Stricklin, Toney; Stricklin, Toney; Toney Stricklin (toney.stricklin at tdrsllc.com<mailto:toney.stricklin at tdrsllc.com>); White, Ronald
Subject: Oil Gross Production Update – Second Revenue Reduction

OKLAHOMA STATE REGENTS FOR HIGHER EDUCATION


Memo


To:                  Presidents
                        Adam Leaming, University Center at Ponca City
                        Dr. Steve Mills, University Center of Southern Oklahoma
                        Dr. Terry Mosley, Quartz Mountain
Cc:                  State Regents
From:             Chancellor Glen D. Johnson
Date:               Thursday, March 10, 2016
Subject:          Oil Gross Production Update – Second Revenue Reduction


Following up on our discussion at our Council of Presidents meeting yesterday, the February collections of oil gross production revenue continue to affect the total allocations available from the Higher Education Capital Revolving Fund and the Oklahoma Tuition Scholarship Revolving Fund.

The Oklahoma Tax Commission has advised us that the revised estimate for the total revenue available for FY16 from the two revolving funds has resulted in an additional $5.6 million reduction ($2.8 million for each fund).

Attached are the adjusted allocation figures for all higher education institutions, constituent agencies, operations support and special programs.   The revised allocations will be presented to the Oklahoma State Regents for ratification at their April 21, 2016 regularly scheduled meeting.

Please contact Vice Chancellor Amanda Paliotta at apaliotta at osrhe.edu<mailto:apaliotta at osrhe.edu> or (405) 225-9126 if you have any questions.

Thank you.

Glen

Glen D. Johnson
Chancellor
Oklahoma State Regents for Higher Education
655 Research Parkway, Suite 200
Oklahoma City, Oklahoma 73104
405.225.9122
gjohnson at osrhe.edu<mailto:gjohnson at osrhe.edu>

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