In an interview, Mayor Mick Cornett noted the risk to the city's prosperity from factors including the federal budget impasse and long-term reductions in military spending.
But Cornett said he was “cautiously optimistic” that growth would continue.
Oklahoma City is becoming a place where highly educated people want to live, he said.
“That's the secret of the 21st century economy,” Cornett said. “And we're investing in that heavily.”
City finance experts told council members they are projecting 4 percent growth in sales tax collections in fiscal 2014.
City departments have been asked to submit budgets reflecting a 1 percent cut in funding. The council is to receive a proposed budget on April 30. Following a series of meetings to discuss spending plans, the council is to vote on next year's budget on June 11.