Okla. Stat. tit. 19, § 19-1711

When the board has ascertained the total assessed valuation of

the property taxed ad valorem in the district, and has computed the

total of the several items of appropriation for general fund,

sinking fund, and other legal purposes for the district, the board

shall then proceed to compute the levy for each fund of each

district. The levy for the general fund shall be that as last

authorized by a vote of the citizens of the district. The procedure

for the computation of the sinking fund levy shall be as follows:

1. Determine the total amount of the several items of

appropriation for the fund;

2. Deduct from such total appropriation the actual cash surplus

of the immediately preceding fiscal year;

Oklahoma Statutes - Title 19. Counties and County Officers Page 593

3. Deduct from the remainder thus ascertained the estimated

probable income from sources other than ad valorem taxation;

however, in no event shall the amount of such estimated income

exceed ninety percent (90%) of the actual collections from such

sources for the previous fiscal year. Also, deduct the estimated

probable revenue to be derived from surplus collection from taxes in

the process of collection of the immediately preceding taxable year;

provided that the surplus so estimated shall be surplus cash as

hereinafter defined, and shall include none of that portion of the

reserve added at the beginning of such year for delinquent tax, and

shall not exceed ninety percent (90%) of the actual collections of

surplus back taxes legally accrued to and credited to the same fund

account of the immediately preceding fiscal year;

4. Add to the remainder a reserve for delinquent taxes, the

amount of which reserve shall be determined by the board, after

taking into consideration the amount of uncollected taxes for the

previous year or years; provided that the reserve so added shall not

exceed twenty percent (20%) or be less than five percent (5%); and

provided, further, that the reserve so added shall not be subject to

review by the excise board;

5. Compute the levy necessary to raise an amount of money equal

to the remainder thus ascertained, based upon the total assessed

valuation of the district, taking into consideration any deduction

which must be made because of the exemption of homesteads as

required by Section 2406 et seq. of Title 68 of the Oklahoma

Statutes; and

6. Compute the reduction in levy necessary to be made because

of monies being required by law to be used for the purpose of

reducing ad valorem tax levies.

The rates of levy for general fund, sinking fund and other

purposes authorized by law shall be separately made and stated, and

the revenue accruing therefrom respectively, when collected, shall

be credited to the proper fund accounts.