Okla. Stat. tit. 68, § 68-3018
This is the official text of Okla. Stat. tit. 68, § 68-3018, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Cash fund balance - Transfer - "Cash fund balance"
Official statutory text
defined.
If and when an actual cash fund balance shall accrue in any fund
for any prior fiscal year, such fund balance shall forthwith be
transferred to the same fund for the fiscal year next succeeding the
year for which the taxes were originally levied, and shall be used
to pay any warrants and interest thereon which may be outstanding
and unpaid for such year. After all warrants and interest on such
warrants for such year have been paid or reserved for, the fund
balance, if any, shall forthwith be transferred to the next
succeeding year for the same purpose. This procedure shall be
followed for each succeeding fiscal year until all warrants issued
prior to the current fiscal year are paid or reserved for, and then
any cash fund balance remaining shall accrue and be transferred to
the current fiscal year, to be used to pay any legal warrant and
interest charges of such year. The term "actual cash fund balance",
as used herein, is hereby defined to mean an excess of actual cash
actually on hand over and above all legal obligations. Taxes in
process of collection shall not be considered in determining the
actual cash fund balance for any fund for any fiscal year or years.
If and when an actual cash fund balance shall accrue in any fund
for any prior fiscal year, such fund balance shall forthwith be
transferred to the same fund for the fiscal year next succeeding the
year for which the taxes were originally levied, and shall be used
to pay any warrants and interest thereon which may be outstanding
and unpaid for such year. After all warrants and interest on such
warrants for such year have been paid or reserved for, the fund
balance, if any, shall forthwith be transferred to the next
succeeding year for the same purpose. This procedure shall be
followed for each succeeding fiscal year until all warrants issued
prior to the current fiscal year are paid or reserved for, and then
any cash fund balance remaining shall accrue and be transferred to
the current fiscal year, to be used to pay any legal warrant and
interest charges of such year. The term "actual cash fund balance",
as used herein, is hereby defined to mean an excess of actual cash
actually on hand over and above all legal obligations. Taxes in
process of collection shall not be considered in determining the
actual cash fund balance for any fund for any fiscal year or years.
Status: reserved · Read it on the official government site
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