Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 449 By: Alvord
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6 AS INTRODUCED
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7 An Act relating to counties; amending 68 O.S. 2021,
7 Sections 3034.1 and 3034.2, which relate to county
8 rainy day fund and capital reserve fund; modifying
8 certain process for funding county rainy day fund;
9 allowing for certain use of county rainy day fund for
9 general budget; providing for certain line item in
10 certain circumstance; updating statutory references;
10 providing an effective date; and declaring an
11 emergency.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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14 SECTION 1. AMENDATORY 68 O.S. 2021, Section 3034.1, is
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15 amended to read as follows:
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16 Section 3034.1. A. As used in this act Section 3034 et seq. of
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17 this title, a "rainy day fund" shall be a cash account to pay for
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18 unforeseen future emergencies unforeseen circumstances or loss in
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19 revenue for the county budget. The rainy day fund shall be funded
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20 with surplus funds or monies receipted over and above the itemized
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21 estimate of needs for the general fund. Such transfers from the
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22 surplus funds shall occur at the time of the budget approval
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23 appropriated from excess revenue collections from the previous
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24 fiscal year and enumerated as a budgeted item with a dedicated line
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1 item identified in the chart of accounts and shall not be combined
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2 with other expenses of the county. The transfer of appropriations
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3 to the rainy day fund shall be conducted after the budget is
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4 approved. The balance of the rainy day fund shall not be part of
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5 the general budget within the estimate of needs but shall be
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6 recorded on the estimate of needs as a special fund. When the
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7 county has excess funds, the county may by resolution deposit the
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8 funds in the rainy day fund. However, after After funds are so
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9 transferred, they are not transferable back to the original source.
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10 The rainy day fund may contain up to, but not more than, fifty
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11 percent (50%) of the previous year's approved budget.
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12 B. 1. Up to one-half (1/2) of the balance of the rainy day
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13 fund may be used for natural disasters that are declared such by the
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14 Governor, board of county commissioners or by the federal
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15 government. Such expenditures must be spent in accordance with
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16 Section 1500 et seq. of Title 19 of the Oklahoma Statutes.
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17 2. Up to one-eighth (1/8) one-quarter (1/4) of the balance of
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18 the rainy day fund may be used to supplement the county's current
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19 general budget if it is less than the previous year's budget as
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20 revenue for the general budget if determined necessary by the
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21 governing board. Revenue from the rainy day fund may be applied
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22 during the original approved budget or mid-year with an amended
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23 budget. The amount required must be clearly identified as a revenue
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24 source within the budget, and the funds shall be transferred from
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Req. No. 1183 Page 2
1 the rainy day fund to the general fund after the budget is approved
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2 and certified.
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3 3. Up to one-eighth (1/8) of the balance of the rainy day fund
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4 may be used to supplement the current year's revenue when
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5 collections come in shorter than estimated and a revenue failure is
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6 declared by the board of county commissioners ten percent (10%) of
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7 the balance of the rainy day fund may be expended by resolution of
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8 the board for exigent circumstances.
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9 SECTION 2. AMENDATORY 68 O.S. 2021, Section 3034.2, is
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10 amended to read as follows:
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11 Section 3034.2. A. As used in this act Section 3034 et seq. of
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12 this title, a "capital reserve fund" shall be a cash account, which
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13 may be used to pay for long-term capital needs of the county. The
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14 capital reserve fund shall be funded appropriated from the general
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15 budget or other legal source. When funded from the general budget,
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16 a dedicated line item shall be used to identify the expenditure in
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17 the chart of accounts and not be combined with other expenses of the
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18 county. The balance of the capital reserve fund shall not be part
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19 of the general budget within the estimate of needs but shall be
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20 recorded on the estimate of needs as a special fund. When the
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21 county has excess funds money from other sources than the general
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22 budget, the county may by resolution deposit the funds in the
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23 capital reserve fund. However, after the funds are so transferred,
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24 they are not transferable back to the original source.
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1 B. Expenditures may be made out of the capital reserve fund as
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2 needed and determined by the board of authority. Expenditures are
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3 limited to county facilities. Such expenditures must be spent in
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4 accordance with Section 1500 et seq. of Title 19 of the Oklahoma
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5 Statutes.
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6 C. The Office of the State Auditor and Inspector may establish
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7 proper documents and procedures.
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8 SECTION 3. This act shall become effective July 1, 2025.
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9 SECTION 4. It being immediately necessary for the preservation
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10 of the public peace, health or safety, an emergency is hereby
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11 declared to exist, by reason whereof this act shall take effect and
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12 be in full force from and after its passage and approval.
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Req. No. 1183 Page 4Every fact on this page links to its source, starting with the official bill record.