Okla. Stat. tit. 62, § 62-34.54: General Revenue Cash-flow Reserve Fund - Transfer of

funds.

There is hereby created in the State Treasury a division of the

State General Revenue Fund which shall be designated the "General

Revenue Cash-flow Reserve Fund". The purpose of the General Revenue

Cash-flow Reserve Fund is to make cash available for the July cash

allocation and so that, insofar as possible, each monthly cash

allocation thereafter can equal one-twelfth (1/12) of the annual

appropriation from the General Revenue Fund.

1. Each year the Director of the Office of Management and

Enterprise Services may transfer monies from the then current fiscal

year General Revenue Fund to the General Revenue Cash-flow Reserve

Fund for the succeeding fiscal year when the apportionment to the

General Revenue Fund is in excess of amounts required for the

allocations necessary to fund appropriations made by the Legislature

for the then current fiscal year. The amount to be transferred

shall not exceed ten percent (10%) of the amount certified by the

State Board of Equalization as available for appropriation from the

General Revenue Fund for the next succeeding fiscal year.

2. Any monies transferred to the General Revenue Cash-flow

Reserve Fund pursuant to paragraph 1 of this section, shall be

transferred by the Director of the Office of Management and

Enterprise Services as nonrevenue receipts to the State General

Revenue Fund in the amounts necessary to make cash available for the

July cash allocation and so that, insofar as possible, each monthly

cash allocation thereafter can equal one-twelfth (1/12) of the

annual appropriation.

3. By the first Monday of each December, the Office of

Management and Enterprise Services shall analyze and submit to the

State Board of Equalization the amount of monies remaining in the

General Revenue Cash-flow Reserve Fund which are not necessary for

current year cash-flow needs and are available for legislative

appropriation.

4. On the second Monday of June of each year, the Director of

the Office of Management and Enterprise Services shall close the

preceding fiscal year General Revenue Cash-flow Reserve Fund by

transfer to the then current fiscal year General Revenue Fund.

5. Any monies in the prior year General Revenue Cash-flow

Reserve Fund which are not necessary for the current year cash-flow

needs shall be subject to legislative appropriation.