Newspaper article THE JOURNAL RECORD

Corporation Commission Trims Budget/9.11% for Remainder of Year

Newspaper article THE JOURNAL RECORD

Corporation Commission Trims Budget/9.11% for Remainder of Year

Article excerpt

A budget reflecting a 9.11 percent reduction for the remaining months of the fiscal year ending June 30, 1987, was approved Thursday by the Oklahoma Corporation Commission.

The regulatory body's budget for the fiscal year ending June 30, 1988, is expected to reflect a further reduction to $14.5 million, said Joe Mercer, commission finance director.

The revised fiscal 1987 commission budget cuts $1.6 million from the original budget. It will reduce the projected expenditures to $16.49 million, down 9.11 percent from the original $18.14 million.

The cuts will not reduce the size of the commission staff, though existing vacancies will not be filled, Mercer said.

"The cut was not that severe in terms of the agency," Mercer said. Division directors had been expecting the reduction and had reduced their expenditures since the beginning of January, he said.

Personnel services, which includes salaries and consultation fees, was reduced by $854,786, or 6.11 percent, to $13.12 million from the original $13.9 million.

The operating budget was reduced by $797,377, or 19.15 percent, to $3.36 million from the originally projected $4.16 million.

Revenues for the remaining fiscal 1987 mirrored the reduction in expenditures.

The general revenue fund for personal services was reduced 5.5 percent to $3.01 million from $3.19 million originally expected. The general revenue fund for operations was reduced 7.13 percent to $130,261 from $140,261 originally expected.

Revenues from the petroleum excise tax fell 14.5 percent to $5.12 million, down from the originally projected $5.9 million.

Revenues generated by commission-assessed fees and citations were originally projected to be $6.5 million, but were revised down to $5. …

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