Okla. Stat. tit. 62, § 62-34.78: Higher educational institution claim settlement systems

A. The Oklahoma State Regents for Higher Education and the

Director of the Office of Management and Enterprise Services shall

jointly establish a system for the settlement of claims, except for

payroll, by institutions of The Oklahoma State System of Higher

Education. The settlement system shall include policy, procedures,

and performance criteria for participation. The State Regents may

approve or disapprove the participation of any institution or other

entity of the State System in the claims settlement system.

B. The Department of Education and the Oklahoma Department of

Career and Technology Education may establish a preaudit and

settlement system for claims and/or payments of state-funded

assistance to school districts and institutions within The Oklahoma

State System of Higher Education. The payment system shall be

neutral as to interest income to the state and the school districts.