Bill Text For SB0582 - Senate Floor Version

 1|                        SENATE FLOOR VERSION                           |
  |                          February 12, 2019                            |
 2|                             AS AMENDED                                |
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 3|SENATE BILL NO. 582                  By: Silk                          |
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 6|       [ schools - expenditures - financial report -                   |
  |       effective date -                           emergency ]          |
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10|BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:                  |
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11|    SECTION 1.     AMENDATORY     70 O.S. 2011, Section 5-123, is      |
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12|amended to read as follows:                                            |
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13|    Section 5-123.  A.  No expenditure involving an amount greater     |
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14|than Five Hundred Dollars ($500.00) shall be made by a board of        |
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15|education except in accordance with the provisions of a written        |
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16|contract or purchase order.                                            |
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17|    B.  1.  At each regular meeting of a school district board of      |
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18|education, a monthly financial report shall be submitted to the        |
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19|board.  The financial report shall include, but not be limited to,     |
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20|the following:                                                         |
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21|         a.    a report prepared and submitted by the local            |
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22|              treasurer in writing which details the conditions of     |
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23|              the finances of the school district including            |
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 1|              investments made pursuant to Section 5-115 of this       |
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 2|              title,                                                   |
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 3|         b.    a report of revenues and expenditures by fund for the   |
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 4|              most recent completed month for which financial          |
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 5|              records are available, and                               |
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 6|         c.    encumbrances and related change orders as required      |
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 7|              pursuant to Section 5-135 of this title.                 |
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 8|    2.  The report required by this subsection shall be posted on      |
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 9|the website of the school district within thirty (30) days after       |
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10|being submitted to the board.                                          |
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11|    SECTION 2.  This act shall become effective July 1, 2019.          |
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12|    SECTION 3.  It being immediately necessary for the preservation    |
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13|of the public peace, health or safety, an emergency is hereby          |
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14|declared to exist, by reason whereof this act shall take effect and    |
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15|be in full force from and after its passage and approval.              |
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16|COMMITTEE REPORT BY: COMMITTEE ON EDUCATION                            |
  |February 12, 2019 - DO PASS AS AMENDED                                 |
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