{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-5-155","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-5-155","heading":"Nature and contents of budget - Budget summary and","body":"message - Hearing - Effect of adoption - Tax levies.\n\nA. The school district budget shall represent a complete plan\n\nfor the school district and shall present information necessary and\n\nproper to disclose the financial position and condition of the\n\nschool district and the revenues and expenditures thereof, both past\n\nand anticipated.\n\nB. A school district budget shall contain a budget summary. It\n\nshall also be accompanied by a budget message which shall explain\n\nthe budget and describe its important features. It shall contain at\n\nleast the following in tabular form for each fund:\n\n1. Actual revenues and expenditures for the immediate prior\n\nfiscal year;\n\n2. Revenues and expenditures for the current fiscal year as\n\nshown by the budget for the current year as adopted or amended; and\n\n3. Estimates of revenues and expenditures for the budget year.\n\nC. The school district governing body shall hold a public\n\nhearing on the proposed budget within forty-five (45) days preceding\n\nthe beginning of the budget year. Notice of the date, time and\n\nplace of the hearing, together with the proposed budget summary,\n\nshall be published in a newspaper of general circulation in the\n\nschool district not less than five (5) days before the date of the\n\nhearing. The clerk of the board shall make available a sufficient\n\nnumber of copies of the proposed budget as the governing body shall\n\ndetermine and shall have them available for review or for\n\ndistribution at the office of the chief financial officer. At the\n\npublic hearing on the budget any person may present to the governing\n\nbody comments, recommendations or information on any part of the\n\nproposed budget.\n\nD. The adopted budget shall be in effect no later than the\n\nfirst day of the fiscal year to which it applies. The budget as\n\nadopted and filed with the State Auditor and Inspector shall\n\nconstitute an appropriation for each fund, and the appropriation\n\nthus made shall not be used for any other purpose except as provided\n\nby law.\n\nE. Each school district shall amend the original budget after\n\nJune 30 of each year after the June financial activity has been\n\nrecorded, the annual Foundation and Salary Incentive Aid allocation\n\nhas been released, and the property tax valuations have been\n\ncertified for all affected counties within the school district. The\n\namended budget shall include all of the following information which\n\nis applicable:\n\n1. Valuation of the school district by county and\n\nclassification, excluding homestead exemptions;\n\n2. Bonded debt and judgments outstanding, including interest\n\nrates by maturity;\n\n3. Matured debt and judgments;\n\n4. Sinking fund balance, including cash and investments;\n\n5. Sinking fund levy calculations, including surplus/deficit,\n\nprincipal accrual, annual interest, judgment installment and\n\ninterest, total net levy and delinquency;\n\n6. Levies in millage for general fund, building fund and\n\nsinking fund;\n\n7. Millage adjustment factor, if applicable;\n\n8. Previous year sinking fund collections, including total\n\nproceeds as certified, additions or deductions, reserve for\n\ndelinquent tax, reserve for protest pending, tax apportioned, net\n\nbalance in process of collection, and excess collections; and\n\n9. Surplus analysis, including itemized sources of excess and\n\ndeductions.\n\nF. At the time required by law, the county excise board shall\n\nlevy the taxes necessary for the school district general fund,\n\nbuilding fund and sinking fund for the budget year pursuant to\n\nSections 397 and 399 of Title 62 of the Oklahoma Statutes, and for\n\nthe school district general and building funds for the budget year\n\npursuant to Section 9 of Article X of the Oklahoma Constitution.","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":"5edb9a5438db859b99dea9c85e8e2aaafdbb86560c14e8d41f3a20e127c02bbb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-5-154","next":"us-ok/okla.-stat.-tit.-70-70-5-156"},"notice":"GroundRules: Original legal text. Not legal advice."}