Hofmeister comments on General Revenue failure

OKLAHOMA CITY  – Today’s Board of Equalization meeting resulted in a 0.7 percent General Revenue failure for the state, which resulted in $11.1 million in cuts to common education and a $39.2 million shortfall in the 1017 fund.

State Superintendent of Public Instruction Joy Hofmeister responded.

“Today’s General Revenue failure, although not unexpected, poses a hardship to districts and schools already stretched thin as a result of ongoing budgetary challenges,” she said. “It is difficult for any state entity to absorb a budget cut halfway through the fiscal year, but we are thankful to see encouraging signs that the energy sector may be rebounding.”