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SENATE FLOOR VERSION
March 25, 2024
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; modif ying 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 follo ws:
Section 34.10 The Director of the Office of Management and
Enterprise Services shall 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 w hich are
consistent with those issued by the Government Accounting Standards
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Board, and which shall be followed by state agencies, colleges and
universities and other entities who are included in the report, for
purposes of establishing consistent applicat ion 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 o r safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
March 25, 2024 - DO PASS