Post by pavel on Mar 4, 2016 5:02:31 GMT -6
One hour after higher education officials approved $26 million in budget reductions Thursday, the state finance director announced additional funding cuts for all state agencies.
The scaled-back budgets for colleges and universities approved by the Oklahoma State Regents for Higher Education were a response to a dramatic drop in oil gross production revenue.
That tax normally generates $94.7 million per year for the higher education system, but this year's estimate is $26.3 million less, Amanda Paliotta, vice chancellor for budget and finance, told the regents.
"We spread it out among all our institutions, all of our programs and our agency, so everybody took their fair share of this reduction," Paliotta said.
Read more: newsok.com/for-colleges-universities-funding-cuts-continue/article/5482710?articleBar=1
The scaled-back budgets for colleges and universities approved by the Oklahoma State Regents for Higher Education were a response to a dramatic drop in oil gross production revenue.
That tax normally generates $94.7 million per year for the higher education system, but this year's estimate is $26.3 million less, Amanda Paliotta, vice chancellor for budget and finance, told the regents.
"We spread it out among all our institutions, all of our programs and our agency, so everybody took their fair share of this reduction," Paliotta said.
Read more: newsok.com/for-colleges-universities-funding-cuts-continue/article/5482710?articleBar=1