Legislative Finance Committee

Although the financial picture has since changed dramatically, heading into the legislative session, continued expectations for growth in oil and natural gas production led to a consensus revenue estimate that substantial new revenue would be available.

Dropping higher education enrollment, despite enrollment growth in surrounding states, and improvements in drug overdose deaths are among the highlights in the state report cards on state agency performance.

General fund recurring revenues for the fiscal year continue to track behind the same period a year ago but mostly because of a large one-time federal land lease sales bonus payment last year. Excluding direct oil and gas revenues, general fund recurring revenue collections for FY20 through December were up $127.3 million, or 4.4 percent, from the same period a year ago

General fund recurring revenues for FY20 through November were $3.253 billion, down $291.2 million, or 8.2 percent, from the same period last year, although the decline is mostly due to a large, one-time federal land lease sale bonus payment received in November 2018.

The financial summary reflecting the governor's post-session action shows an increase in funds in the operating reserve. However, the summary does not reflect recent economic upheaval or oil price weakness.