Bill > SB706

This bill removes limitations on school district general fund carryover and penalties for exceeding those limitations. Specifically, it eliminates a previously existing chart that restricted how much money school districts could carry over from one fiscal year to the next and removes provisions that would have reduced a district's state aid if they exceeded those carryover limits. The bill modifies how school districts can manage their general fund finances by removing constraints on accumulating funds from year to year, particularly for gifts, grants, and donations. It also makes several technical updates to statutory language related to school funding, including changes to how per-pupil revenue is calculated and how state aid is distributed. The bill will become effective on July 1, 2025, and includes an emergency clause, which means it can take effect immediately upon passage. The changes aim to provide school districts with more financial flexibility in managing their resources and budgeting for future needs.

Budget and Finance, Education

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb706&Session=2600