Okla. Stat. tit. 70, § 70-5-135.2
This is the official text of Okla. Stat. tit. 70, § 70-5-135.2, part of Oklahoma’s Stat. tit. 70, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 70,." Browse the sections below, each linked to its official government source.
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Reporting financial transactions - Reduction of State
Official statutory text
Aid - Statement of actual income and expenditures.
A. For the 1991-92 school year, school districts shall report
financial transactions for all funds, except for the school activity
fund, using the Oklahoma Cost Accounting System, as adopted by the
State Board of Education pursuant to Section 5-135 of this title.
Costs shall be reported by curricular subject area where applicable.
For the 1992-93 school year and in each subsequent school year,
school districts shall report financial transactions for all funds
using the Oklahoma Cost Accounting System. Costs shall be reported
by curricular subject area where applicable.
B. Beginning July 1, 1991, and in each subsequent school year,
the State Department of Education shall reduce the monthly payment
of a district's State Aid funds if, at the time of such payment, the
district is not operating pursuant to the Oklahoma Cost Accounting
System. The amount of the reduction shall be one percent (1%) for
the first payment, two percent (2%) for the second payment, three
percent (3%) for the third payment, four percent (4%) for the fourth
payment, and five percent (5%) for each subsequent payment. The
reduction may be waived by the State Board of Education if the
district can demonstrate that failure to operate pursuant to such
system was due to circumstances beyond the control of the district
and that every effort is being made by the district to operate
pursuant to such system as quickly as possible.
C. No later than September 1 each year, every district board of
education shall prepare a statement of actual income and
expenditures of the district for the fiscal year that ended on the
preceding June 30. The statement of expenditures shall include
functional categories as defined in rules adopted by the State Board
of Education to implement the Oklahoma Cost Accounting System
pursuant to Section 5-135 of this title.
D. No later than September 1 each year, every school district
shall transmit a copy of the income and expenditures data required
pursuant to subsection C of this section to the State Department of
Education. The Department shall post the income and expenditure
data on the Internet web site for the Department in a form that is
accessible to the public.
A. For the 1991-92 school year, school districts shall report
financial transactions for all funds, except for the school activity
fund, using the Oklahoma Cost Accounting System, as adopted by the
State Board of Education pursuant to Section 5-135 of this title.
Costs shall be reported by curricular subject area where applicable.
For the 1992-93 school year and in each subsequent school year,
school districts shall report financial transactions for all funds
using the Oklahoma Cost Accounting System. Costs shall be reported
by curricular subject area where applicable.
B. Beginning July 1, 1991, and in each subsequent school year,
the State Department of Education shall reduce the monthly payment
of a district's State Aid funds if, at the time of such payment, the
district is not operating pursuant to the Oklahoma Cost Accounting
System. The amount of the reduction shall be one percent (1%) for
the first payment, two percent (2%) for the second payment, three
percent (3%) for the third payment, four percent (4%) for the fourth
payment, and five percent (5%) for each subsequent payment. The
reduction may be waived by the State Board of Education if the
district can demonstrate that failure to operate pursuant to such
system was due to circumstances beyond the control of the district
and that every effort is being made by the district to operate
pursuant to such system as quickly as possible.
C. No later than September 1 each year, every district board of
education shall prepare a statement of actual income and
expenditures of the district for the fiscal year that ended on the
preceding June 30. The statement of expenditures shall include
functional categories as defined in rules adopted by the State Board
of Education to implement the Oklahoma Cost Accounting System
pursuant to Section 5-135 of this title.
D. No later than September 1 each year, every school district
shall transmit a copy of the income and expenditures data required
pursuant to subsection C of this section to the State Department of
Education. The Department shall post the income and expenditure
data on the Internet web site for the Department in a form that is
accessible to the public.
Status: in_force · Read it on the official government site
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