{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-5-129","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-5-129","heading":"School activity fund - Control - Accounts -","body":"Disbursements - Petty cash accounts - Custodian - Bond - Investment\n\nof funds - Refund subaccount.\n\nA. The board of education of each school district shall\n\nexercise control over all funds and revenues on hand or hereafter\n\nreceived or collected, as herein provided, from student or other\n\nextracurricular activities or other revenue-generating sources\n\nlisted in subsection B of this section that are conducted in the\n\nschool district. Such funds shall be deposited to the credit of the\n\naccount maintained for the benefit of the particular activity within\n\nthe school activity fund. Deposits of funds subject to the\n\nrequirements of this section shall be made by the end of the next\n\nbusiness day; however, if the deposit for a day totals less than One\n\nHundred Dollars ($100.00), a school district may accumulate monies\n\nrequired to be deposited into the fund on a daily basis until the\n\ntotal accumulated balance of deposits equals or exceeds One Hundred\n\nDollars ($100.00). Provided, a school district shall deposit\n\naccumulated monies into the fund not less than one (1) time per\n\nweek, regardless of whether the monies total One Hundred Dollars\n\n($100.00). Disbursements from each of the activity accounts shall\n\nbe by check countersigned by the school activity fund custodian and\n\nshall not be used for any purpose other than that for which the\n\naccount was originally created. The board of education, at the\n\nbeginning of each fiscal year and as needed during each fiscal year,\n\nshall approve all school activity fund subaccounts, all subaccount\n\nfund-raising activities and all purposes for which the monies\n\ncollected in each subaccount can be expended. Provided, the board\n\nof education may direct by written resolution that any balance in\n\nexcess of the amount needed to fulfill the function or purpose for\n\nwhich an account was established may be transferred to another\n\naccount by the custodian.\n\nB. The board of education of each school district may designate\n\nthat any of the following revenue be deposited for the use of\n\nspecific school activity accounts, or to a general activity fund\n\nwithin the school activity fund:\n\n1. Admissions to athletic contests, school or class plays,\n\ncarnivals, parties, dances and promenades;\n\n2. Sale of student activity tickets;\n\n3. Concession sales, including funds received from vending\n\nconcession contracts and school picture contracts approved by the\n\ndistrict board of education, and cafeteria or luncheon collections;\n\n4. Dues, fees and donations to student clubs or other\n\norganizations, provided that membership in such clubs or\n\norganizations shall not be mandatory;\n\n5. Income or revenue resulting from the operation of student\n\norganizations or club projects, provided, such revenue is not\n\nderived from the lease, rental or sale of property, supplies,\n\nproducts or other assets belonging to the school district. When\n\napproved by the board of education, student organizations or club\n\nprojects may include fund-raising activities, the revenues from\n\nwhich may be used for the purpose of purchasing goods or services\n\notherwise considered to be general fund expenditures;\n\n6. Deposits for or collections for the purchase of class\n\npictures, rings, pins, announcements, calling cards, annuals,\n\nbanquets, student insurance and other such personal items; provided\n\nthe cost of such items shall not be charged against other school\n\nfunds; and\n\n7. Other income collected for use by school personnel and other\n\nschool-related adult functions.\n\nC. The board of education of each district may establish petty\n\ncash accounts to be used only for the purpose of making small cash\n\nexpenditures, such as postage, freight or express charges; provided,\n\nno single expenditure from a petty cash account shall be made in\n\nexcess of Seventy-five Dollars ($75.00), and the total expenditures\n\nduring any one (1) fiscal year shall not exceed Two Thousand Five\nThe board of education of each district may establish petty\n\ncash accounts to be used only for the purpose of making small cash\n\nexpenditures, such as postage, freight or express charges; provided,\n\nno single expenditure from a petty cash account shall be made in\n\nexcess of Seventy-five Dollars ($75.00), and the total expenditures\n\nduring any one (1) fiscal year shall not exceed Two Thousand Five\n\nHundred Dollars ($2,500.00) per school building. The school\n\nactivity fund custodian shall initiate petty cash accounts by filing\n\na claim against the general fund of the school district for the\n\nauthorized amount of each petty cash account which shall not exceed\n\nTwo Hundred Dollars ($200.00) per school building. The general fund\n\nwarrants issued in payment of said claim shall be deposited in a\n\n\"Petty Cash Account\" in the school activity fund.\n\nAll disbursements from the petty cash accounts shall be made in\n\nthe same manner as other disbursements from the school activity\n\nfund, except no disbursement shall be made from a petty cash account\n\nunless a prenumbered, dated receipt be obtained and signed by the\n\nperson receiving payment. A school board may designate a petty cash\n\ncustodian to countersign petty cash checks in place of the activity\n\nfund custodian. The school activity fund custodian shall file\n\nclaims against the general fund of the school district for\n\nreimbursement of a petty cash account whenever the need shall arise.\n\nSuch claims shall be itemized in the same manner as other claims\n\nfiled against the general fund and shall have attached thereto the\n\nreceipts covering each of the expenditures claimed for\n\nreimbursement. The total of a petty cash account balance and the\n\nreceipts on hand awaiting reimbursement should equal at all times\n\nthe authorized amount of a petty cash account.\n\nNone of the provisions pertaining to a petty cash account shall\n\nbe construed to authorize the use of one (1) fiscal year's fund to\n\npay obligations of another fiscal year. Any remaining balance in\n\neach petty cash account shall be transferred to the general fund on\n\nor before June 30 of each year.\n\nD. The State Board of Education shall adopt appropriate rules\n\nand regulations and design standard forms for the proper conduct of\n\nthe various school activity accounts.\n\nE. The school activity fund custodian and the petty cash\n\ncustodian shall be appointed by the board of education of the school\n\ndistrict. The school activity fund custodian and the petty cash\n\ncustodian shall give a surety bond in an amount determined by the\n\nboard of education, but not less than One Thousand Dollars\n\n($1,000.00). The premium of the surety bond shall be paid from the\n\nschool activity fund or the general fund.\n\nF. The local board of education is hereby authorized to invest\n\nactivity funds as it determines appropriate. Upon direction of the\n\nlocal board of education, the custodian of the activity fund shall\n\ninvest activity funds in any or all of the investments permitted and\n\nlisted in Section 5-115 of this title.\n\nG. The board of education of a school district may establish,\n\nby board resolution, a general fund refund subaccount within the\n\nschool activity fund. The balance in the subaccount shall be\n\ndetermined by need, and it shall be funded by refunds and\n\nreimbursements received, including but not limited to, rental\n\nincome, reimbursements for lost and damaged textbooks, summer school\n\nand adult tuition, overpayments and tax refunds, as well as\n\ntransfers, by treasurer's check, from the school district general\n\nfund. The subaccount may be expended only for the refund of\n\nrevenues previously received and deposited either into the\n\nsubaccount or directly into the general fund. Any remaining balance\n\nin the refund subaccount shall be transferred to the school district\n\ngeneral fund on or before June 30 of each year.\nr's check, from the school district general\n\nfund. The subaccount may be expended only for the refund of\n\nrevenues previously received and deposited either into the\n\nsubaccount or directly into the general fund. Any remaining balance\n\nin the refund subaccount shall be transferred to the school district\n\ngeneral fund on or before June 30 of each year.\n\nH. The board of education of a school district may authorize\n\nthe custodian of the school activity funds to provide cash advances\n\nto the sponsors for travel expenses on behalf of school district\n\nstudents and sponsors of certain school activities. The cash\n\nadvances may only come from the school activity fund subaccount\n\ndirectly involved in the travel of such students or sponsor and only\n\nif the travel is one of the stated functions or purposes for the\n\nestablishment of the subaccount. Receipts for all expenditures of\n\nthe cash advances shall be kept and turned in to the custodian of\n\nthe school activity fund following said trip.\n\nI. Any invoice submitted to a school district which is to be\n\npaid from a school activity fund and is for payment of an authorized\n\nexpenditure in an amount equal to or greater than the threshold\n\namount stated in Section 310.9 of Title 62 of the Oklahoma Statutes\n\nshall conform to the requirements set forth in that section.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"0930c965e1a6c7dd37f6d9cf9f35325609ca6d7e868db960629df72a256750e9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-5-128.2","next":"us-ok/okla.-stat.-tit.-70-70-5-129.1"},"notice":"GroundRules: Original legal text. Not legal advice."}