[Cobo] FW: Update on Board of Equalization Meeting - December 18, 2020 at 3:00 p.m.

[Mauck, Sheri]

Please find information below from today's Board of Equalization meeting.

Merry Christmas and Happy Holidays.


From: Johnson, Dr. Glen
Sent: Friday, December 18, 2020 4:21 PM
Subject: Update on Board of Equalization Meeting - December 18, 2020 at 3:00 p.m.

OKLAHOMA STATE REGENTS FOR HIGHER EDUCATION


Memo


To:                  State Regents
                        Presidents
                        Higher Education Network
From:             Chancellor Glen D. Johnson
Date:               Friday, December 18, 2020
Subject:          Update on Board of Equalization Meeting - December 18, 2020 at 3:00 p.m.


This afternoon I virtually attended the State Board of Equalization meeting by Zoom.

During the meeting, the Board of Equalization considered our FY22 funding request for the Oklahoma's Promise scholarship program in the amount of $69.4 million, with $4.0 million funded from the Oklahoma's Promise trust fund reserves and $65.4 million being allocated from the state General Revenue Fund.

We discussed the Oklahoma's Promise funding request with State Equalization Board members prior to the meeting this afternoon. We let them know that approximately 95,000 students have earned the Oklahoma's Promise scholarship since the inception of the program in 1992 and that our state system of higher education greatly appreciates their support on behalf of Oklahoma's students and families.

At the conclusion of the presentation for the FY22 Oklahoma's Promise funding request, the Board of Equalization unanimously voted to approve our FY22 funding request for the Oklahoma's Promise scholarship program. Voting in favor of the request were Governor Kevin Stitt, Lieutenant Governor Matt Pinnell, Attorney General Mike Hunter, State Treasurer Randy McDaniel, State Superintendent Joy Hofmeister, State Auditor & Inspector Cindy Byrd, and Oklahoma Commissioner of Agriculture Blayne Arthur.

Additionally, at their meeting, the Board of Equalization approved an FY22 General Revenue estimate of $8.464 billion which represents an increase of $631.2 million (8.1%) over the current $7.833 billion appropriated for FY21.

Please let me know if you have any questions.

Thanks.

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>

[OK_RegentHigh_transparent][oklahoma-works-logo-vertical-cmyk]



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