Okla. Stat. tit. 82, § 82-1324.18
This is the official text of Okla. Stat. tit. 82, § 82-1324.18, part of Oklahoma’s Stat. tit. 82, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 82,." Browse the sections below, each linked to its official government source.
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Duty of chairman - Compensation for services -
Official statutory text
District audits, reviews or compilations.
A. It shall be the duty of the chairman of the board of
directors to keep in repair such works as are constructed by the
district and to operate such works, all as directed by said board.
The chairman and all persons who may perform any service or labor as
provided herein shall be paid such just and reasonable compensation
as may be allowed by the board of directors and said board shall
annually prepare an estimated budget for the coming year, adjust
rates, if necessary to produce sufficient revenue required by such
budget.
B. 1. The board of directors of each district with a gross
operating revenue of Fifty Thousand Dollars ($50,000.00) or more
during a fiscal year shall cause to be prepared, by an independent
licensed public accountant or a certified public accountant, an
annual financial audit in accordance with generally accepted
auditing standards as of the end of each fiscal year. Copies shall
be filed with the State Auditor and Inspector within six (6) months
after the close of the fiscal year.
2. The board of directors of each district with a gross
operating revenue of less than Fifty Thousand Dollars ($50,000.00)
during a fiscal year shall cause to be prepared an annual review or
compilation in compliance with standards promulgated by the American
Institute of Certified Public Accountants. Copies of the review or
compilation shall be filed with the State Auditor and Inspector
Oklahoma Statutes - Title 82. Waters and Water Rights Page 329
within six (6) months after the close of the fiscal year for which
the review or compilation is done.
C. Each annual review, compilation or audit prepared pursuant
to this section shall be reported at the district's annual meeting.
Nothing in this section shall in any way alter or eliminate the
auditing requirements of any state or federal lending institution.
A. It shall be the duty of the chairman of the board of
directors to keep in repair such works as are constructed by the
district and to operate such works, all as directed by said board.
The chairman and all persons who may perform any service or labor as
provided herein shall be paid such just and reasonable compensation
as may be allowed by the board of directors and said board shall
annually prepare an estimated budget for the coming year, adjust
rates, if necessary to produce sufficient revenue required by such
budget.
B. 1. The board of directors of each district with a gross
operating revenue of Fifty Thousand Dollars ($50,000.00) or more
during a fiscal year shall cause to be prepared, by an independent
licensed public accountant or a certified public accountant, an
annual financial audit in accordance with generally accepted
auditing standards as of the end of each fiscal year. Copies shall
be filed with the State Auditor and Inspector within six (6) months
after the close of the fiscal year.
2. The board of directors of each district with a gross
operating revenue of less than Fifty Thousand Dollars ($50,000.00)
during a fiscal year shall cause to be prepared an annual review or
compilation in compliance with standards promulgated by the American
Institute of Certified Public Accountants. Copies of the review or
compilation shall be filed with the State Auditor and Inspector
Oklahoma Statutes - Title 82. Waters and Water Rights Page 329
within six (6) months after the close of the fiscal year for which
the review or compilation is done.
C. Each annual review, compilation or audit prepared pursuant
to this section shall be reported at the district's annual meeting.
Nothing in this section shall in any way alter or eliminate the
auditing requirements of any state or federal lending institution.
Status: in_force · Read it on the official government site
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