{"data":{"id":"us-ok/okla.-stat.-tit.-19-19-1704","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 19, § 19-1704","heading":"Definitions","body":"As used in this act:\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. \"Appropriation\" means an authorization and allocation of\n\nmoney to be expended for a purpose;\n\n3. “Audit” means a performance audit, a financial audit,\n\nagreed-upon procedures, limited review, or examination of the books\n\nand records;\n\n4. \"Board\" means a board of trustees of an emergency medical\n\nservice district created pursuant to the provisions of Section 9C of\n\nArticle X of the Constitution of the State of Oklahoma;\n\n5. \"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\n6. \"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\n7. \"Budget year\" means the fiscal year for which a budget is\n\nprepared or being prepared;\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 the liabilities, reserves,\n\ncontributions and encumbrances of a fund over its assets as\n\nreflected by its book of account;\n\n10. \"Department\" means a functional unit within a fund which\n\ncarries on a specific activity;\n\n11. \"District\" means an emergency medical service district\n\ncreated pursuant to the provisions of Section 9C of Article X of the\n\nConstitution of the State of Oklahoma;\n\n12. \"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. Revenue includes any appropriated fund balance\n\nin the budget of revenues for a fund for the budget year;\n\n13. \"Fiscal year\" means the annual period for reporting fiscal\n\noperations which begins and ends on dates as the Legislature\n\nprovides;\n\n14. \"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, or as otherwise defined in current\n\ngenerally accepted accounting principles;\n\n15. \"Fund balance\" means the excess of the assets of a fund\n\nover its liabilities, reserves, contributions and encumbrances, as\n\nreflected by its books of account;\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. The \"operating\n\nreserve\" will be equivalent to the \"unappropriated fund balance\" in\n\nany fund for which a budget is prepared.","path":["OK Code","Title 19"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os19.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"23d1621afe64aaa9bea3cf2c604e54fdf3e238fea639a719f068c92633f9adc6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-19-19-1703","next":"us-ok/okla.-stat.-tit.-19-19-1705"},"notice":"GroundRules: Original legal text. Not legal advice."}