Department of Education facing over $50 million in budget cuts

OKLAHOMA CITY (KOKH) — Funding for education in Oklahoma took another hit as the State Board of Education revealed several shortfalls in their projected budget.

During its regularly scheduled meeting Feb. 23, the board revealed that the Education Reform Revolving Fund was $39 million short. Added to $11.1 million in cuts the State Board of Equalization announced on Tuesday, the education department must now cut over $50 million from its budget.

"All that will be provided is the bare minimum," State Supt. Joy Hofmeister told FOX 25 after the meeting. "The bare minimum is not good enough."

Supt. Hofmeister says revenues from other sources, like the Common Education Technology Fund, are also falling short. It points to the likelihood the $50 million dollar hole could grow by millions more before the end of the fiscal year.

The Education Reform Revolving Fund is a dedicated revenue fund appropriated for the Oklahoma Department of Education and consists of personal and corporate income tax, sales tax and use tax revenues. Portions of cigarette and tobacco tax and gaming taxes go to the fund as well.

"We're doing everything possible, trying to think creatively," Hofmeister said. "But we recognize at the end of this, we're going to have kids with needs that aren't met in education."

At this point, it's unclear how much of a direct hit metro school districts will take, but a spokesman for Oklahoma City Public Schools told FOX 25 the district's finance team is meeting with the state later this week.

Faced with similar spring semester cuts last year, some districts eliminated days at the end of the year, cut staff, cut athletics and/or eliminated after school programs.