Okla. Stat. tit. 19, § 19-1704: Definitions

As used in this act:

1. "Account" means an entity for recording specific revenues or

expenditures, or for grouping related or similar classes of revenues

and expenditures and recording them within a fund or department;

2. "Appropriation" means an authorization and allocation of

money to be expended for a purpose;

3. “Audit” means a performance audit, a financial audit,

agreed-upon procedures, limited review, or examination of the books

and records;

4. "Board" means a board of trustees of an emergency medical

service district created pursuant to the provisions of Section 9C of

Article X of the Constitution of the State of Oklahoma;

5. "Budget" means a plan of financial operations for a fiscal

year, including an estimate of proposed expenditures for given

purposes and the proposed means for financing them;

6. "Budget summary" means a tabular listing of revenues by

source and expenditures by fund and by department within each fund

for the budget year;

7. "Budget year" means the fiscal year for which a budget is

prepared or being prepared;

8. "Current year" means the year in which the budget is

prepared and adopted, or the fiscal year immediately preceding the

budget year;

9. "Deficit" means the excess of the liabilities, reserves,

contributions and encumbrances of a fund over its assets as

reflected by its book of account;

10. "Department" means a functional unit within a fund which

carries on a specific activity;

11. "District" means an emergency medical service district

created pursuant to the provisions of Section 9C of Article X of the

Constitution of the State of Oklahoma;

12. "Estimated revenue" means the amount of revenues estimated

to be received during the budget year in each fund for which a

budget is prepared. Revenue includes any appropriated fund balance

in the budget of revenues for a fund for the budget year;

13. "Fiscal year" means the annual period for reporting fiscal

operations which begins and ends on dates as the Legislature

provides;

14. "Fund" means an independent fiscal and accounting entity

with a self-balancing set of accounts to record cash and other

financial resources, together with all liabilities, which are

segregated for the purpose of carrying on specific activities or

attaining certain objectives, or as otherwise defined in current

generally accepted accounting principles;

15. "Fund balance" means the excess of the assets of a fund

over its liabilities, reserves, contributions and encumbrances, as

reflected by its books of account;

16. "Immediate prior fiscal year" means the year preceding the

current year;

17. "Levy" means to impose ad valorem taxes or the total amount

of ad valorem taxes for a purpose or entity;

18. "Operating reserve" means that portion of the fund balance

which has not been appropriated in a budget year. The "operating

reserve" will be equivalent to the "unappropriated fund balance" in

any fund for which a budget is prepared.