Tue, Feb 09 2010
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Published October 30, 2009 09:57 am - State education officials say schools are facing more budget cuts and that a revolving fund that provides more than 25 percent of funding for schools is nearly empty. School face prospect of more funding cutsTULSA, Okla. (AP) — State education officials say schools are facing more budget cuts and that a revolving fund that provides more than 25 percent of funding for schools is nearly empty.
Assistant State Superintendent James White said Thursday that if school cuts occur — some districts may be consolidated or closed. White said at a state Board of Education meeting that many districts will have trouble finishing this year. The revolving fund known as the House Bill 1017 fund was created in the 1990 education reform law that overhauled school funding. The funding comes from sources including income taxes, sales and tobacco taxes and corporate income taxes. 
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