{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1324.18","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1324.18","heading":"Duty of chairman - Compensation for services -","body":"District audits, reviews or compilations.\n\nA. It shall be the duty of the chairman of the board of\n\ndirectors to keep in repair such works as are constructed by the\n\ndistrict and to operate such works, all as directed by said board.\n\nThe chairman and all persons who may perform any service or labor as\n\nprovided herein shall be paid such just and reasonable compensation\n\nas may be allowed by the board of directors and said board shall\n\nannually prepare an estimated budget for the coming year, adjust\n\nrates, if necessary to produce sufficient revenue required by such\n\nbudget.\n\nB. 1. The board of directors of each district with a gross\n\noperating revenue of Fifty Thousand Dollars ($50,000.00) or more\n\nduring a fiscal year shall cause to be prepared, by an independent\n\nlicensed public accountant or a certified public accountant, an\n\nannual financial audit in accordance with generally accepted\n\nauditing standards as of the end of each fiscal year. Copies shall\n\nbe filed with the State Auditor and Inspector within six (6) months\n\nafter the close of the fiscal year.\n\n2. The board of directors of each district with a gross\n\noperating revenue of less than Fifty Thousand Dollars ($50,000.00)\n\nduring a fiscal year shall cause to be prepared an annual review or\n\ncompilation in compliance with standards promulgated by the American\n\nInstitute of Certified Public Accountants. Copies of the review or\n\ncompilation shall be filed with the State Auditor and Inspector\n\nwithin six (6) months after the close of the fiscal year for which\n\nthe review or compilation is done.\n\nC. Each annual review, compilation or audit prepared pursuant\n\nto this section shall be reported at the district's annual meeting.\n\nNothing in this section shall in any way alter or eliminate the\n\nauditing requirements of any state or federal lending institution.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f3e8e7f513b1bdbfe2368dc55600a4a0924e6a961e8b054c6b1992f145d5af39","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1324.17","next":"us-ok/okla.-stat.-tit.-82-82-1324.19"},"notice":"GroundRules: Original legal text. Not legal advice."}