Doerflinger seeks attorney general’s opinion on Rainy Day borrowing

Finance Secretary Preston Doerflinger has asked the attorney general’s office whether he has the authority to borrow from the Rainy Day Fund.

Since September, Doerflinger has transferred more than $240 million from the fund because tax revenue hasn’t met expectations. Without the cash, state agencies would not have received enough money to fund operations that were authorized by the Oklahoma Legislature. The account, also known as the Constitutional Reserve Fund, is empty and must be paid back before July 1.

In his letter to Attorney General Mike Hunter on Wednesday, Doerflinger asked whether his transfers violate the Oklahoma Constitution.

“I am anxious to have your official opinion to aid this office in its decisionmaking for the remainder of this administration and as may be necessary in years beyond,” he wrote.

Doerflinger, who also serves as director of the Office of Management and Enterprise Services, included a legal analysis by his own general counsel, Tim Tuck.

Tuck’s opinion relies on the wording in the Constitution, specifically that the law regulates how Rainy Day money can be appropriated by lawmakers. Doerflinger is allowed to borrow money from any treasury fund and the transfers weren’t an appropriation, he noted.

“Rather, it is a transfer or ‘borrowing’ of funds which are to be paid back as clearly indicated by the statute,” Tuck wrote, referencing the section of law requiring borrowed funds be replaced before the end of the fiscal year. “As such, the type of transfer contemplated by the above cited statute is not in conflict with the Oklahoma Constitution and is allowable by law.”

Hunter has not yet issued his opinion. Attorney general opinions carry some weight in law but are not as definitive as court rulings.