{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-17-204","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-17-204","heading":"Definitions","body":"As used in this act, except as provided in Section 4 of this\n\nact:\n\n1. \"Account\" means an entity for recording specific revenues or\n\nexpenditures, or for grouping related or similar classes of revenues\n\nand expenditures and recording them within a fund or department;\n\n2. “Appropriated fund balance” means any fund balance\n\nappropriated for a fund for the budget year;\n\n3. \"Appropriation\" means an authorization to expend or encumber\n\nrevenues and fund balance of a fund;\n\n4. \"Budget\" means a plan of financial operations for a fiscal\n\nyear, including an estimate of proposed expenditures for given\n\npurposes and the proposed means for financing them;\n\n5. \"Budget summary\" means a tabular listing of revenues by\n\nsource and expenditures by fund and by department within each fund\n\nfor the budget year;\n\n6. \"Budget year\" means the fiscal year for which a budget is\n\nprepared or being prepared;\n\n7. \"Chief executive officer\" means the mayor of an aldermanic\n\ncity or a strong-mayor-council city, the mayor of a town, or the\n\ncity manager or chief administrative officer as it may be defined by\n\napplicable law, charter or ordinance;\n\n8. \"Current year\" means the year in which the budget is\n\nprepared and adopted, or the fiscal year immediately preceding the\n\nbudget year;\n\n9. \"Deficit\" means the excess of a fund's current liabilities\n\nand encumbrances over its current financial assets as reflected by\n\nits books of account;\n\n10. \"Department\" means a functional unit within a fund which\n\ncarries on a specific activity, such as a fire department or a\n\npolice department within a general fund;\n\n11. \"Estimated revenue\" means the amount of revenues estimated\n\nto be received during the budget year in each fund for which a\n\nbudget is prepared;\n\n12. \"Fiscal year\" means the annual period for reporting fiscal\n\noperations which begins and ends on dates as the Legislature\n\nprovides or as provided by law;\n\n13. \"Fund\" means an independent fiscal and accounting entity\n\nwith a self-balancing set of accounts to record cash and other\n\nfinancial resources, together with all liabilities, which are\n\nsegregated for the purpose of carrying on specific activities or\n\nattaining certain objectives;\n\n14. \"Fund balance\" means the excess of a fund's current\n\nfinancial assets over its current liabilities and encumbrances, as\n\nreflected by its books of account;\n\n15. \"Governing body\" means the city council of a city, the\n\nboard of trustees of a town, or the legislative body of a\n\nmunicipality as it may be defined by applicable law or charter\n\nprovision;\n\n16. \"Immediate prior fiscal year\" means the year preceding the\n\ncurrent year;\n\n17. \"Levy\" means to impose ad valorem taxes or the total amount\n\nof ad valorem taxes for a purpose or entity;\n\n18. \"Operating reserve\" means that portion of the fund balance\n\nwhich has not been appropriated in a budget year; and\n\n19. \"Municipality\" means any incorporated city or town.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9235202645c48a236e822250151d986275c2265260d87fe7d1f7f3141545e2f4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-17-203.1","next":"us-ok/okla.-stat.-tit.-11-11-17-205"},"notice":"GroundRules: Original legal text. Not legal advice."}