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53	53	STATE OF OKLAHOMA
54	54
55	55	1st Session of the 60th Legislature (2025)
56	56
57	57	SENATE BILL 449 By: Alvord
58	58
59	59
60	60
61	61
62	62
63	63	AS INTRODUCED
64	64
65	65	An Act relating to counties; amending 68 O.S. 2021,
66	66	Sections 3034.1 and 3034.2, which relate to county
67	67	rainy day fund and capital reserve fund; modifying
68	68	certain process for funding county rainy day fund;
69	69	allowing for certain use of county rainy day fund for
70	70	general budget; providing for certain line item in
71	71	certain circumstance; updating statutory references;
72	72	providing an effective date; a nd declaring an
73	73	emergency.
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77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. AMENDATORY 68 O.S. 2021, Section 3034.1, is
79	79	amended to read as follows:
80	80	Section 3034.1. A. As used in this act Section 3034 et seq. of
81	81	this title, a “rainy day fund” shall be a cash account to pay for
82	82	unforeseen future emergencies unforeseen circumstances or loss in
83	83	revenue for the county budget . The rainy day fund shall be funded
84	84	with surplus funds or monies receipted over and above the itemized
85	85	estimate of needs for the general fund. Such transfers fr om the
86	86	surplus funds shall occur at the time of the budget approval
87	87	appropriated from excess revenue collections from the previous
88	88	fiscal year and enumerated as a budgeted item w ith a dedicated line
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140	140	item identified in the chart of accounts and shall not be combined
141	141	with other expenses of the county. The transfer of appropriations
142	142	to the rainy day fund shall be conducted after the budget is
143	143	approved. The balance of the rainy day fund shall not be part of
144	144	the general budget within the estimate of needs but shall be
145	145	recorded on the estimate of needs as a special fund. When the
146	146	county has excess funds, the county may by resolution deposit the
147	147	funds in the rainy day fund. However, a fter After funds are so
148	148	transferred, they are not transferable back to the original source.
149	149	The rainy day fund may contain up to, but not more than, fifty
150	150	percent (50%) of the previous year ’s approved budget.
151	151	B. 1. Up to one-half (1/2) of the balance of the rainy day
152	152	fund may be used for natural disasters that are declared such b y the
153	153	Governor, board of county commissioners or by the federal
154	154	government. Such expenditures must be spent in accordance with
155	155	Section 1500 et seq. of Title 19 of the Oklahoma S tatutes.
156	156	2. Up to one-eighth (1/8) one-quarter (1/4) of the balance of
157	157	the rainy day fund may be used to supplement the county ’s current
158	158	general budget if it is less than the previous year ’s budget as
159	159	revenue for the general budget if determined necessary by the
160	160	governing board. Revenue from the rainy day fund may be applied
161	161	during the original approved budget or mid -year with an amended
162	162	budget. The amount required must be clearly identified as a revenue
163	163	source within the budget, and the funds shall be t ransferred from
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215	215	the rainy day fund to the general fund after the budget is approved
216	216	and certified.
217	217	3. Up to one-eighth (1/8) of the balance of the rainy day fund
218	218	may be used to supplement the current year ’s revenue when
219	219	collections come in shorter than es timated and a revenue failure is
220	220	declared by the board of county commissioners ten percent (10%) of
221	221	the balance of the rainy day fund may be expended by resolution of
222	222	the board for exigent circumstances .
223	223	SECTION 2. AMENDATORY 68 O .S. 2021, Section 3034.2, is
224	224	amended to read as follows:
225	225	Section 3034.2. A. As used in this act Section 3034 et seq. of
226	226	this title, a “capital reserve fund ” shall be a cash account, which
227	227	may be used to pay for long -term capital needs of the county. The
228	228	capital reserve fund shall be funded appropriated from the general
229	229	budget or other legal source. When funded from the general budget,
230	230	a dedicated line item shall be used to identify the expenditure in
231	231	the chart of accounts and not be combined with other expenses of the
232	232	county. The balance of the capital reserve fund shall not be part
233	233	of the general budget within the estimate of needs but shall be
234	234	recorded on the estimate of needs as a special fund. When the
235	235	county has excess funds money from other sourc es than the general
236	236	budget, the county may by resolution deposit the funds in the
237	237	capital reserve fund. However, after the funds are so transferred,
238	238	they are not transferable back to the original source.
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290	290	B. Expenditures may be made out of the capital res erve fund as
291	291	needed and determined by the board of authority. Expenditures are
292	292	limited to county facilities. Such expenditures must be spent in
293	293	accordance with Section 1500 et seq. of Title 19 of the Oklahoma
294	294	Statutes.
295	295	C. The Office of the State Auditor and Inspector may establish
296	296	proper documents and procedures.
297	297	SECTION 3. This act shall become effective July 1, 2025.
298	298	SECTION 4. It being immediately necessary for the preservation
299	299	of the public peace, health or safety, a n emergency is hereby
300	300	declared to exist, by reason whereof this act shall take effect and
301	301	be in full force from and after its passage and approval.
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303	303	60-1-1183 MSBB 1/8/2025 10:41:22 AM

Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB449 Compare Versions