Capital Budget

Topics: Oklahoma City, Public finance, Finance Pages: 5 (1386 words) Published: December 8, 2013


The Capital Budget
Instructor: Dr. Joseph McCue
Public Budgeting and Finance - PAD 505
August 11, 2013

The Oklahoma City budget includes the addition of 40 new police officer positions, bringing the total number of uniform police positions to 1,116. Eleven more positions were added in other City departments. Total City positions will increase 1.1 percent to 4,580. The budget also includes an additional $1 million for METRO Transit bus service enhancements. The City hired a public transit consultant to examine the system, identify ways to improve the route network and increase ridership and productivity. Their recommendations for future service improvements will be presented to City Council in the coming weeks and Council will be able to fund some of those improvements with the additional $1 million (http://www.okc.gov/finance_tab/index.html). Payroll Forecast

The City’s mission and its commitment are to provide leadership, commitment and resources to achieve. The City of Oklahoma City offers full-time employees a generous benefit package as part of their total compensation. But a $7.1 billion budget deal for the upcoming fiscal year does not include an across-the-board increase for Oklahoma’s approximately 34,000 state employees, including correctional officers and state troopers. The budget agreement represents a 3.9 percent increase in legislative appropriations, or about $267 million, for the 2014 fiscal year compared with this fiscal year, which ended June 30. Despite the increased funding, the budget calls for neither an increase for state employees nor a one-time bonus for eligible state workers, as some legislators suggested. The budget does include an additional $7 million to pay for legislative operations and to renovate vacant space in the state Capitol into legislative offices and committee rooms.

State employees haven’t had an across-the-board increase since October 2006. Sterling Zearley, executive director of the Oklahoma Public Employees Association, said lack of raises results in higher turnover rates among employees and unfilled positions at state agencies. “While there is some indication that Oklahoma is slowly moving toward improving how it compensates its workers, lawmakers have completely ignored state employees who work in our correctional facilities, care for our veterans, protect our children and seniors, keep our streets safe and see that our state’s infrastructure is sound,” Zearley said. Budget Forecast Manager in Oklahoma City, OK is $73,000. The average Budget Forecast Manager salaries for job postings in Oklahoma City, OK are 18% lower than average Budget Forecast Manager salaries for job postings nationwide.

Trend Analysis
From 2010 to 2020, the U.S. economy is projected to add 20.5 million new jobs as total employment grows from nearly 143.1 million to more than 163.5 million. This 14.3 percent growth reflects the assumption of a full-employment economy in 2020. Out of 749 detailed occupations, 657 are projected to grow, while 92 are projected to decline. The fastest growth is expected among healthcare, personal care, and community and social service occupations. The Bureau of Labor Statistics (BLS) produces these long-term projections of occupational employment to supply those who seek or provide career guidance with information on how the labor market is changing. In addition, policymakers and educational authorities use BLS employment projections for long-term policy planning. Finally, BLS projections are used by states in preparing state and area projections. In Oklahoma nearly all jobs have been recovered or are on pace to be recovered in the year ahead. The challenge in projecting future activity for Oklahoma is determining when or if they already have transitioned from a rebound rate of expansion to a slower, but sustainable trajectory. Just as the recovery has been uneven across the nation, so too has the recovery been somewhat...

References: Bureau of Labor Statistics http://www.bls.gov/
Oklahoma City (2013). 2013-2014 Proposed Budget: Focused on Priorities. The City of
Oklahoma. Retrieved August 11, 2013, 2013 from www.okc.gov/finance/FY14%20Proposed%20Budget%20Book%20for%20Web%20Con.pdf.
The Five Year Forecast. The City of Oklahoma City Retrieved August 11, 2013 from
http://www.okc.gov/finance_tab/index.html
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