Equalization Board December Economic data, Econometric Approved basis Oklahoma Tax Produces Revenue OSU economist modeling for Executive Commission, Estimate input (Forecast Pro or Budget OMES, replacement), (statutory limits Equalization Hyperion based on this Board Planning & PSPB estimate) (entered or uploaded to reflect Revenue estimate) Submission of January to Agency Hyperion Executive Governor/OMES Executive Budget February Submissions, Planning & Budget, to Legislature Revenue PSPB, Hyperion Historical Estimate, Financial Close Budget Agency Hearings Management Agencies Resubmit January Agency Trial Hyperion Submission to Agencies/OMES Agency Revenue Planning & PSPB OMES Estimates February Economic data, Econometric Revised Oklahoma Tax Equalization Revised Estimate OSU economist modeling tools approved basis Commission, input (Forecast Pro or for Legislative OMES, replacement), Appropriations Equalization Hyperion & Governor’s Planning & PSPB Action (entered or uploaded to reflect Revenue estimate) Legislative February to Legislative Microsoft Office Appropriations Legislature Reviews and May Authority, is used to Bills Appropriation Statutes, manage Equalization appropriation Recommendations (Including Veto Board Guidance bills, language, Override) etc. Governor’s Action February to Governor’s Microsoft Office Signed Governor/OMES on Appropriation May Authority, is used to Appropriations Bills (Including Statutes, manage Veto) Equalization appropriation Guidance language, etc. June July Statute The equalization Certification of Equalization Equalization Board – Meeting Changes, certifies law Balanced Board – Revenue & Legislative and changes that Budget Expenditure OMES analysis affect revenue. Authority Adjusted to Incorporate Statute Changes
Equalization Board Produces Revenue Estimate December Economic data, OSU economist input Econometric modeling (Forecast Pro or replacement), Hyperion Planning & PSPB (entered or uploaded to reflect Revenue estimate) Approved basis for Executive Budget (statutory limits based on this estimate) Oklahoma Tax Commission, OMES, Equalization Board Submission of Executive Budget to Legislature January to February Agency Submissions, Revenue Estimate, Agency Hearings Hyperion Planning & PSPB, Hyperion Financial Close Management Executive Budget, Historical Budget Governor/OMES Agencies Resubmit Agency Revenue Estimates January Agency Hyperion Planning & PSPB Submission to OMES Agencies/OMES Equalization Revised Estimate February Economic data, OSU economist input Econometric modeling tools (Forecast Pro or replacement), Hyperion Planning & PSPB (entered or uploaded to reflect Revenue estimate) Revised approved basis for Legislative Appropriations & Governor’s Action Oklahoma Tax Commission, OMES, Equalization Legislative Reviews and Appropriation Recommendations (Including Veto Override) February to May Legislative Authority, Statutes, Equalization Board Guidance Microsoft Office is used to manage appropriation bills, language, etc. Appropriations Bills Legislature Governor’s Action on Appropriation Bills (Including Veto) February to May Governor’s Authority, Statutes, Equalization Guidance Microsoft Office is used to manage appropriation language, etc. Signed Appropriations Governor/OMES Equalization Board Meeting – Revenue & Expenditure Authority Adjusted to Incorporate Statute Changes June – July Statute Changes, Legislative and OMES analysis The equalization certifies law changes that affect revenue. Certification of Balanced Budget Equalization Board Trial
Solicitation0900000751AttachmentA.docx