Alva Review-Courier -

Oklahoma's attorney general gives opinion on reserve fund


OKLAHOMA CITY (AP) — Oklahoma's attorney general says the state's finance officials can legally borrow money from its Constitutional Reserve Fund.

Finance Secretary Preston Doerflinger has borrowed the fund's entire balance of $240.7 million this budget year to cover the state's expenses, The Oklahoman ( ) reported.

Doerflinger requested Attorney General Mike Hunter's opinion of whether it's legal to borrow from the fund, also called the rainy day fund, since the Oklahoma Constitution states the finance secretary can transfer state funds to cover expenses when revenue...

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