OpenBooks - Where_does_the_money_come_from_-

Open Books, Oklahoma's Finances: Online and In Action

WHERE DOES THE MONEY COME FROM THAT THE LEGISLATURE APPROPRIATES?

Revenue Sources for State Agencies

Taxes and Interest Income
Licenses, Permits, tuition, Fees and Other
Assets Held for Others
Federal Grants

Chart showing revenue sources for state agencies including: 20 percent from federal grants, 31 percent from taxes and interest income, 21 percent from assests held for others and 28 percent from licenses, permits, tuition, fees and other sources

The largest fund into which state taxes are deposited is the General Revenue Fund.

A significant source of education funding is the Education Reform (1017) Fund.

Chart showing the percentages of sources that make up the Education Reform (1017) Fund: 37 percent individual income tax, 35 percent sales tax, 14 percent tribal gaming, 10 percent corporate income tax and 4 percent other tax

Revenue Sources
-- 8.34% of the revenue from individual income tax is devoted to the Education Reform (1017) Fund
-- 16.5% of the revenue from corporate income tax is devoted to the Education Reform (1017) Fund
-- 11-12% of the revenue from sales tax is devoted to the Education Reform (1017) Fund
-- Other includes cigarette tax, tobacco products, tribal gaming and use tax which is devoted to the Education Reform (1017) Fund

CITIZEN EDUCATION

Overview of Process
Official Estimating Process
Where does the Money Come From that the Legislature Appropriates?
Where does the Money Go?
Spending Restrictions
What are the Top 10 Appropriations?

Data for OpenBooks is provided by the Oklahoma Office of State Finance.