Oklahoma 2022 Fiscal Year savings in the billions

OKLAHOMA CITY, Okla. (KSWO) - Governor Kevin Stitt announced a historic $2.8 billion in state savings Wednesday, with the close of the 2022 Fiscal Year.

According to the press release, Oklahoma has now seen 3 years of General Revenue Funds collections and state savings growth.

Stitt said he is proud of the conservative fiscal discipline across state spending, which is helping to save the Oklahoma taxpayer and build the state savings account.

The total collections for the 2022 Fiscal Year were 28.3% higher than last year, an estimated $1.9 billion, and 21.6% higher than in 2020 at almost $1.5 billion.

Stitt’s state savings target also soared above the target of $2.3 billion, coming in at a total of $2.8 billion.

Oklahoma was also able to accumulate nearly half a billion dollars in the Education Reform Revolving Fund, now the state’s third largest source of unbudgeted cash.

To view Oklahoma’s revenue tables, click here.

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