In another sign of tough budgetary times, Gov. Mary Fallin has issued an executive order establishing a hiring freeze for state agencies and prohibiting raises and bonuses.

The state is facing a $300 million budget hole that appears to be growing as oil industry tax revenue declines along with the price of oil. A fractional state income tax decrease that goes into effect halfway through the next budget year will also reduce revenue.

“As we address the developing budgetary challenges the state faces, it is incumbent upon all public officials to more carefully manage every taxpayer dollar,” Fallin said Monday.

The only exceptions to her order would be through approval of a statewide elected official or Cabinet member.