Appropriations; making an appropriation to the Oklahoma Department of Commerce. Emergency.
The bill requires that funds appropriated for fiscal year 2024 be encumbered only until June 30, 2024, and calls for expenditures to be fully realized by November 15, 2024. Any unspent funds beyond this deadline, unless rolled over into the following fiscal year, will lapse back into the state treasury. This stipulation is designed to encourage efficient financial management within state agencies and ensures that the allocated resources are utilized promptly for their intended purposes.
Senate Bill 1161 involves appropriating funds to the Oklahoma Department of Commerce for the fiscal year ending June 30, 2024. The specified amount for this appropriation is $100,000, or as much as necessary to fulfill the Department's legal duties. This allocation aims to ensure the Department can continue to support its various functions, which include fostering economic development and public service activities in the state. The bill emphasizes budgeting protocols related to these appropriations, stipulating specific encumbrance and expenditure timelines for the allocated funds.
Notably, an emergency clause included in the bill allows it to take effect immediately upon passage and approval, underscoring the urgency of the funding. This provision may provoke discussion or dissent among legislators regarding the necessity and timing of such appropriations, especially in light of potential competing fiscal priorities or budgetary constraints within the broader state budget framework. The bill's swift implementation could be viewed as a means to preempt bureaucratic delays in funding the Department of Commerce's essential programs.