Bill > HB3025

This bill amends existing law to clarify how school districts handle gift, grant, and donation monies received for noncapital expenditures, meaning funds not used for acquiring or improving fixed assets like buildings or land. Specifically, it states that such monies, if placed in the general fund (the primary fund for a school district's day-to-day operating expenses), will not be counted as part of the general fund's carryover, which is the amount of money left over at the end of a fiscal year, until one year after the money was received. This change aims to provide more flexibility for schools in managing these types of funds without immediately impacting their year-end financial calculations.

Budget and Finance, Education

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3025&Session=2600