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Tuesday, May. 13, 2025

Has Oklahoma’s savings increased from zero in 2019 to $5 billion today?

Matthew Yim, Oklahoma Watch
no

Oklahoma’s Rainy Day Fund, also known as the Constitutional Reserve Fund, had a balance of $806.3 million in 2019, which has since increased to $1.3 billion as of 2024. 

The Rainy Day Fund balance saw the greatest decrease in 2020 when it totalled $58.7 million. 

There are two instances in which the Rainy Day Fund can be used. Up to half of it can be applied to the budget of the upcoming fiscal year when its certification is less than that of the current fiscal year. Up to half of the balance can also be appropriated upon declaration of emergency conditions. 

Oklahoma’s other reserve fund, the Revenue Stabilization Fund, had $197 million deposited in 2019. The balance of this fund has increased to $533 million in 2024.

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