- Associated Press - Wednesday, February 17, 2016

TULSA, Okla. (AP) - State officials say public school officials were misguided when they began bracing for state funding cuts related to a specific revolving fund for schools.

The Tulsa World (http://bit.ly/1WrJOmk ) reports that the anticipated $19 million reduction isn’t likely to occur after all because state budget officials recently discovered that a dedicated source of revenue for education, called the 1017 Fund, began the fiscal year with a cash balance of $43.8 million from previous years.

The exact amount of these latest funding reductions for schools was expected to be announced publicly after the Oklahoma State Board of Equalization met Tuesday. That didn’t happen.

State Budget Director Jill Geiger and John Estus, Office of Management and Enterprise Services spokesman, explained that the cash balance hadn’t been included in previous monthly reports from the Board of Equalization.

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Information from: Tulsa World, http://www.tulsaworld.com

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