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Oklahoma County Budget Board receives revised revenue projections after spreadsheet corrections
Summary
The Oklahoma County Budget Board voted to receive revised revenue projections with staff corrections after members identified formula and year-to-date projection errors; staff will update the documents before the Budget Board meeting on Thursday.
The Oklahoma County Budget Board voted to receive revised revenue projections with requested corrections and asked staff to forward the updated estimate to the Budget Board for its Thursday meeting.
Board members said the session focused on fixing spreadsheet formula errors and year-to-date projection entries that were skewing totals. Board member (unnamed) said the board had received new documents from Albert the previous afternoon and that Christy had flagged mismatches between column calculations and the year-to-date totals.
Board members and staff described the specific issues as formula and entry errors on the revenue worksheets. Christy identified that column 2 plus column 4 should equal column 3 and pointed to an incorrect entry on line 25 of the year-to-date projections; correcting that cell, she said, would change intergovernmental totals, total revenue and the total sources available. Staff referenced a $28,004.9 figure and a $2.21 amount in the worksheet as part of the reconciliation discussion and said the April-estimate column (column 4) should reflect the $2.21 figure to produce a $2.50 total in column 3 when combined with the year-to-date projection.
Participants also discussed the general fund reserve percentage on page 4, where the worksheet showed 8.196% while other watch-list forms showed a slightly different figure. Board members noted that the reserve calculation assumed two transfers (a $75,000 and a $50,000 transfer discussed previously) and that the final percentage would hinge on whether the budget board approved those transfers. One speaker said the reserve would be “8.196,” not “8.362,” after the described adjustments.
After the corrections were described, a motion was made and seconded to receive the budget estimate as presented with Christy’s requested modifications. The board approved the motion by voice vote. Later the board moved, seconded and approved an adjournment.
Staff (Albert) and board members agreed to update and reprint the corrected worksheets before the Budget Board meeting on Thursday or hold a special budget meeting to formally receive the estimates if needed.
The discussion was procedural and technical: no ordinances, resolutions or budget adoptions were made at this session. The formal actions taken were to receive the corrected revenue estimate and to adjourn.
