Connect with us

Oklahoma

Oklahoma gets third positive rating outlook

Published

on

Oklahoma gets third positive rating outlook


Oklahoma’s credit quality is looking up, rating agencies say, with Fitch Ratings joining Moody’s Investors Service and S&P Global Ratings in revising the state’s rating outlook to positive from stable.

Fitch, which rates Oklahoma AA, said Friday the revision reflects sustained improvements in expenditure flexibility and overall fiscal management, “particularly its adherence to conservative budgeting practices through economic cycles including the recent period of revenue volatility caused by the coronavirus pandemic.”

“Oklahoma has long been the best-kept secret, and the secret is out,” he said in a statement. “Fitch, S&P, and Moody’s all see that, and their positive ratings prove it.”

Oklahoma Treasurer’s Office

Advertisement

“The state has consistently taken timely action to address revenue shortfalls and budgets only 95% of projected operating revenues,” it added.

Moody’s, which rates Oklahoma Aa2, revised its outlook in October, while S&P, which rates the state AA, moved the outlook to positive in July.

State Treasurer Todd Russ said Oklahoma has worked to diversify its economy, lower its debt, and “stand strong as a leader in many industries.”

“Oklahoma has long been the best-kept secret, and the secret is out,” he said in a statement. “Fitch, S&P, and Moody’s all see that, and their positive ratings prove it.” 

The outlook revisions come as Oklahoma is avoiding debt issuance by tapping a $600 million revolving loan fund created last year for projects and Gov. Kevin Stitt pushes for an income tax cut.

Advertisement

Three projects totaling $135 million that had been slated for bond issuance through the Oklahoma Capitol Improvement Authority were authorized for these loans, according to the treasurer’s office. 

As of the end of 2023, Oklahoma had no general obligation bonds outstanding, according to the annual state debt report. Lease revenue bonds issued through OCIA had outstanding principal of $1.336 billion. 

The Republican governor has been pushing to phase out the personal income tax, citing the state’s “record-breaking” reserves and other surplus funds.  The Republican-controlled Senate has held off on any action until certified budget numbers from the Board of Equalization are released Thursday.

The proposed tax cut comes amid a trend of declining state revenue, both nationally and in Oklahoma, where gross receipts in calendar 2023 were down 2.8% compared to 2022.

Oklahoma’s tax revenue could be adversely impacted by a case before the state Supreme Court on whether Native Americans who live and work on reservations should pay state income taxes.

Advertisement

A decision by the high court, which heard oral arguments Jan. 17, can come at any time. In a court filing, the Oklahoma Tax Commission said a tax exemption for tribal members would result in “tens of millions of dollars in tax refunds and deprive the state of billions more in future taxes.”



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Oklahoma

TULLAHASSEE: One of Oklahoma's oldest black towns reopens community center

Published

on

TULLAHASSEE: One of Oklahoma's oldest black towns reopens community center


TULLAHASSEE, Okla. — The John Ford Community Center reopened in Tullahassee with a grand ceremony.

After 20 years, people in one of Oklahoma’s oldest black towns walked into the gym where they went to school. The John Ford Community Center reopened in Tullahassee with a grand ceremony.

John Ford Community Center reponed after two decades. Roz Williams says he went to elementary school there.
She said it was a blast from the past when she walked in.

“I can just remember the cheering of the crowd and everyone getting involved,” said Williams.

Advertisement

Tullahassee leaders said the reopening shows promise for one of Oklahoma’s oldest black towns. Williams said the new floors from the renovations could be just as bright as the town’s future.

“I think it’s possible for there to be a resurgence here. We can start with the community center, but I think it may draw more people back,” said Williams.

Town leaders said the space will be used for basketball tournaments and community events. They’ve been working since last year to raise money for renovations. Williams said the building’s name, John Ford, brings back memories.

“Doctor Ford, who was actually superintendent and principal when I attended here, just brought back a lot of memories of love.”
Even though Williams lives in Muskogee, she said she’ll be back for events.

“Oh, absolutely, because this is the foundation of the community right now,” said Williams.

Advertisement

To learn more about Tullahassee, click here.


Stay in touch with us anytime, anywhere —





Source link

Continue Reading

Oklahoma

What is Oklahoma State’s Toughest Road Game in 2024?

Published

on

What is Oklahoma State’s Toughest Road Game in 2024?


Oklahoma State has been one of the best home teams in the nation in recent years, but some road games have been a cause for concern.

Over the past three seasons, OSU has lost only two games at Boone Pickens Stadium, boasting multiple 10-win seasons and trips to the Big 12 Championship. Despite the team’s overall success, winning away from Stillwater has proved challenging at times for the Cowboys.

Coming off one of those 10-win campaigns, OSU is looking to compete for a Big 12 title and make the College Football Playoff for the first time. Of course, to achieve those goals, the Cowboys will need to play well away from home.

Winning on the road is typically not easy, but the Cowboys’ first matchup away from Stillwater is in Tulsa, so it will still feel a bit like a home game. Considering the Golden Hurricane’s struggles recently, the opponent will not do much to make the game interesting.

Advertisement

While the Cowboys will make a couple of trips to Texas next season to face Baylor and TCU, there are three road games that stand out as the most difficult.

3. BYU

A Friday night under the lights in Provo will be a challenge for OSU. After needing an 18-point comeback to win in double overtime against the Cougars in Stillwater last season, the Cowboys can’t afford to take this matchup lightly. With the Cowboys’ potential to come in as a top 15 team, it could be the rowdiest environment OSU faces all season.

2. Colorado

OSU will get an early kickoff on Black Friday in Boulder. With a short week after a potentially intense matchup with Texas Tech, the Cowboys could experience some hangover in this matchup. 

Advertisement

While Colorado’s season could go a few different directions, if it enters the game with a bowl game still in reach, OSU could face a desperate team. Plus, OSU’s past three regular-season finales have all been one-possession games.

1. Kansas State

OSU will open conference play by hosting Utah, but the schedule does not let up after that, as the Cowboys will head to Kansas State a week later. Last season, OSU’s matchup against Kansas State sparked a five-game winning streak and helped turn the season around.

As both teams enter next season as Big 12 contenders, this is projected to be one of the most important conference matchups. Manhattan has also been a tough place for OSU to win, as the Cowboys lost 48-0 in their most recent trip in 2022.

READ MORE: Oklahoma State Set to Host 3-star In-State RB Kenny Golston

Advertisement

Want to join the discussion? Like AllPokes on Facebook and follow us on Twitter to stay up to date on all the latest Cowboys news. You can also meet the team behind the coverage.





Source link

Continue Reading

Oklahoma

Why Vernon Turner’s journey to 2024 Paris Olympics ‘means a lot to everyone’ in Oklahoma

Published

on

Why Vernon Turner’s journey to 2024 Paris Olympics ‘means a lot to everyone’ in Oklahoma


play

When he leapt 7 feet and 6 inches into the air, breaking the NFHS high jump record as a senior at Yukon High School, Vernon Turner first began to think the Olympics could be in his future.

He had already earned an invitation to his first Olympic trials. But it rained. And while he executed perfect jumps during warmups, he had a poor showing and ultimately didn’t qualify.

Advertisement

Turner’s mother, Melonie Carpenter, knowing he was disappointed with how he performed, remembers the advice she offered at that moment.

“I’ve always told him,” Carpenter said, “‘Professionals are dedicated, and they put everything into whatever it is that they’re doing. And the ones that don’t put 100% in, or 150%, they don’t get to be in that little, small percentage.’”

When the Olympic flame is lit during the opening ceremony Friday, Turner will be the lone U.S. Olympian out of 592 athletes to represent Oklahoma. The former OU track and field standout who was born in Kansas City, Missouri, but raised in Yukon, is one of the youngest high jumpers in the field.

Turner’s family will make the over 4,800-mile journey to Paris to watch him live out his dreams. While excited, Carpenter said they’re nervous to travel outside the U.S. as they haven’t done so outside of cruises, and she’ll be on the edge of her seat watching her son compete.

Advertisement

More: 2024 Paris Olympics: A look at each competitor with Oklahoma ties

“I’m going to be a nervous wreck, I’ll tell you right now,” Carpenter said. “Vernon said he’s not nervous at all. He’s excited. So I’m glad to hear him say that.”

Turner was originally an avid basketball player who was dunking by his freshman year of high school before his coach forced him to go out for track and field. 

Carpenter has seen firsthand how hard her son has worked to cement himself as one of the best in the world. 

Advertisement

Turner’s work ethic was instilled in him by Carpenter, who worked night shifts mostly seven days a week throughout his childhood. Turner was forced to grow up fast and developed immense dedication for high jumping during his freshman year of high school.

Turner opened up to The Oklahoman earlier this month about the mental hurdles he faced after finishing dead last at the 2023 World Athletics Championships in Budapest, Hungary. For the past year, he’s buckled down and focused on getting himself ready for the leading international sporting event.

“The mental game is tough,” Turner said. “Throughout my whole career, it’s been up and down. … Learning the mental part of it is so huge. You have to mature and just be able to focus on one thing. You can’t let moments be bigger than you.”

More: Mussatto: Imagining Thunder’s Chet Holmgren, Jalen Williams on Team USA in 2028 Olympics

Advertisement

The past few weeks before heading abroad, Turner has been entrenched in final preparations and has worked with the Sooners’ vertical jumps coach Jerel Langley in Oklahoma.

“He’s really been working,” Carpenter said. “He’s been doing some different calisthenic things to get his ups going.”

Fans can follow Turner’s Olympic journey on the RIZZ app where he’ll be answering questions and giving updates along the way.

Turner’s family is anxious to get overseas to not only watch him compete on the world stage, but to watch him represent home. 

“He’s amazing, he’s worked hard,” Carpenter said. “It means a lot to everyone in Yukon, people that have watched him since he was little because he started here in grade school, he’s been here his whole life. They’ve all kept up with him, it’s amazing.”

Advertisement



Source link

Continue Reading

Trending