Oklahoma § 10-601.14 - Children's Endowment Fund of Oklahoma

§ 10-601.14. Children's Endowment Fund of Oklahoma

A. There is hereby created in the State Treasury a fund for the

Oklahoma Commission on Children and Youth to be designated the

“Children’s Endowment Fund of Oklahoma”. The fund shall be a

continuing fund, not subject to fiscal year limitations, and shall

consist of all monies received through donations or interest earned

by investment of monies in the fund. The fund shall be invested by

the State Treasurer in accordance with Section 89.2 of Title 62 of

the Oklahoma Statutes.

B. Funds deposited into the Children’s Endowment Fund of

Oklahoma and any earnings therefrom, including any interest,

dividends or realized capital gains from investment of monies in the

fund, shall be administered by the Oklahoma Commission on Children

and Youth, which is authorized to award grants to further the public

purpose of stimulating a broad range of innovative programs,

activities or research or evaluation that will improve the wellbeing and reduce the adverse childhood experiences of Oklahoma’s

children. The funds shall not be used to expand existing services

or to support ongoing core services. The Commission may also direct

the State Treasurer to reinvest any earnings into the corpus of the

fund.

C. The Oklahoma Commission on Children and Youth shall

promulgate rules to:

1. Establish a Parent Partnership Board for the purpose of

informing the work of Oklahoma’s child-serving systems, assisting

members of the Commission and their respective entities with areas

of concern, supporting the Commission in the process of developing

and awarding grants supported by the Children’s Endowment Fund of

Oklahoma, and other activities upon request; and

2. Establish criteria and procedures for awarding grants.

D. The Oklahoma Commission on Children and Youth may use up to

ten percent (10%) of the funds deposited in the Children’s Endowment

Fund of Oklahoma in any given fiscal year to provide administration,

Oklahoma Statutes - Title 10. Children

oversight, training or evaluation of the grantees or the Parent

Partnership Board.

E. Monies from the fund may be expended by the Oklahoma

Commission on Children and Youth in accordance with the provisions

of this section upon warrants issued by the State Treasurer against

claims filed as prescribed by law with the Director of the Office of

Management and Enterprise Services for approval and payment.

F. Notwithstanding any other provision of law, funds deposited

in the Children’s Endowment Fund of Oklahoma shall only be expended

as provided in this section.

Added by Laws 2018, c. 231, § 1. Amended by Laws 2024, c. 347, § 6,

emerg. eff. May 28, 2024.