The Oklahoma Legislature will have just under $12.17 billion available for appropriation in Fiscal Year 2027, according to figures certified by the State Board of Equalization.
The total represents a $123 million increase over the board’s December estimate. However, it is approximately $571 million less than the total appropriation authority lawmakers had available last year after accounting for large one-time allocations approved during the 2025 session.
State officials also reported $3.69 billion in total cash reserves. Of that amount, $1.78 billion is set aside in the state’s Constitutional Reserve Fund and Revenue Stabilization Fund. Another key reserve, the FMAP Rate Preservation Fund, which is used to offset changes in federal Medicaid matching rates, has a projected balance of $535 million.
Revenue collections have exceeded projections this fiscal year by $459 million, not including the standard 5 percent revenue cushion built into state budgeting practices. Officials estimate that total deposits into savings could approach $900 million.
At the same time, budget demands are increasing. Roughly 80 percent of executive branch agencies have requested budget increases for FY 2027.
