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ENGROSSED HOUSE
BILL NO. 3560 By: Kendrix of the House
and
Daniels of the Senate
An Act relating to public finance; amending 62 O.S.
2021, Section 34.10, which relates to annual
reporting requirements; modifying description of
certain report; providing an effective date; and
declaring an emergency .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 62 O.S. 2021, Section 34.10, is
amended to read as follows:
Section 34.10 The Director of the Office of Management and
Enterprise Services shal l cause to be prepared a comprehensive an
annual comprehensive financial report, in accordance with generally
accepted accounting principles for governments, and shall further
have the general purpose financial statements included in the annual
comprehensive annual financial report audited in accordance with
generally accepted auditing standards. The Director is hereby
authorized to establish procedures and guidelines which are
consistent with those issued by the Government Accounting Standards
Board, and which shall be followed by state agencies, colleges and
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universities and other en tities who are included in the report, for
purposes of establishing consistent application of accounting
principles and to ensure the timeliness of the report.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof thi s act shall take effect and
be in full force from and after its passage and approval.
Passed the House of Representatives the 28th day of February,
2024.
Presiding Officer of the House
of Representatives
Passed the Senate the ___ day of _________, 2024.
Presiding Officer of the Senate