Okla. Stat. tit. 68, § 68-3034.1: Rainy day fund

A. As used in this act, a "rainy day fund" shall be a cash

account to pay for unforeseen future emergencies or loss in revenue

for the county budget. The rainy day fund shall be funded with

surplus funds or monies receipted over and above the itemized

estimate of needs for the general fund. Such transfers from the

surplus funds shall occur at the time of the budget approval. The

balance of the rainy day fund shall not be part of the general

budget within the estimate of needs but shall be recorded on the

estimate of needs as a special fund. When the county has excess

funds, the county may by resolution deposit the funds in the rainy

day fund. However, after funds are so transferred, they are not

transferable back to the original source. The rainy day fund may

contain up to, but not more than, fifty percent (50%) of the

previous year's approved budget.

B. 1. Up to one-half (1/2) of the balance of the rainy day

fund may be used for natural disasters that are declared such by the

Governor, board of county commissioners or by the federal

government. Such expenditures must be spent in accordance with

Section 1500 et seq. of Title 19 of the Oklahoma Statutes.

2. Up to one-eighth (1/8) of the balance of the rainy day fund

may be used to supplement the county's current general budget if it

is less than the previous year's budget.

3. Up to one-eighth (1/8) of the balance of the rainy day fund

may be used to supplement the current year's revenue when

collections come in shorter than estimated and a revenue failure is

declared by the board of county commissioners.