The cuts to the state education system have not stopped coming and for the most recent cut, it may be too late for the schools to do anything about it.
The Oklahoma State Department of Education recently announced a $16.3 million shortfall to the Common Education Technology Fund, which is one of six revenue sources used to make up the state appropriation for Fiscal Year 2016 to the State Aid Funding Formula. The June deposit to the fund was $2.5 million, bringing total revenue to $31 million. The state had originally appropriated $47.3 million.
The result of this cut — which is based on tax revenue from gross oil production — is an adjustment to school district allocations in their June payments. All area schools are affected by this newest cut.
Navajo stands to lose $10,616, Duke loses $5,043, Eldorado loses $3,236, Olustee loses $4,775, Blair loses $7,547 and Altus takes a huge hit with an $88,780 loss.
“This cut comes at the very end of this fiscal year which means there is absolutely nothing one can do but to use carryover funds to absorb the loss of state revenue,” said Superintendent Roger Hill. “This latest cut continues to show how unstable our state revenue is and why school officials are not very confident that the state revenue picture is getting any better.”
Reach Ryan Lewis at 580-482-1221, ext. 2076.