Okla. Stat. tit. 11, § 11-17-204

As used in this act, except as provided in Section 4 of this

act:

1. "Account" means an entity for recording specific revenues or

expenditures, or for grouping related or similar classes of revenues

and expenditures and recording them within a fund or department;

2. “Appropriated fund balance” means any fund balance

appropriated for a fund for the budget year;

3. "Appropriation" means an authorization to expend or encumber

revenues and fund balance of a fund;

4. "Budget" means a plan of financial operations for a fiscal

year, including an estimate of proposed expenditures for given

purposes and the proposed means for financing them;

5. "Budget summary" means a tabular listing of revenues by

source and expenditures by fund and by department within each fund

for the budget year;

6. "Budget year" means the fiscal year for which a budget is

prepared or being prepared;

7. "Chief executive officer" means the mayor of an aldermanic

city or a strong-mayor-council city, the mayor of a town, or the

city manager or chief administrative officer as it may be defined by

applicable law, charter or ordinance;

8. "Current year" means the year in which the budget is

prepared and adopted, or the fiscal year immediately preceding the

budget year;

9. "Deficit" means the excess of a fund's current liabilities

and encumbrances over its current financial assets as reflected by

its books of account;

10. "Department" means a functional unit within a fund which

carries on a specific activity, such as a fire department or a

police department within a general fund;

11. "Estimated revenue" means the amount of revenues estimated

to be received during the budget year in each fund for which a

budget is prepared;

12. "Fiscal year" means the annual period for reporting fiscal

operations which begins and ends on dates as the Legislature

provides or as provided by law;

13. "Fund" means an independent fiscal and accounting entity

with a self-balancing set of accounts to record cash and other

financial resources, together with all liabilities, which are

segregated for the purpose of carrying on specific activities or

attaining certain objectives;

Oklahoma Statutes - Title 11. Cities and Towns Page 120

14. "Fund balance" means the excess of a fund's current

financial assets over its current liabilities and encumbrances, as

reflected by its books of account;

15. "Governing body" means the city council of a city, the

board of trustees of a town, or the legislative body of a

municipality as it may be defined by applicable law or charter

provision;

16. "Immediate prior fiscal year" means the year preceding the

current year;

17. "Levy" means to impose ad valorem taxes or the total amount

of ad valorem taxes for a purpose or entity;

18. "Operating reserve" means that portion of the fund balance

which has not been appropriated in a budget year; and

19. "Municipality" means any incorporated city or town.