Oklahoma § 68-3034.2 - Capital reserve fund
Full text of Oklahoma Oklahoma Statutes § 68-3034.2 — Capital reserve fund, with citation guidance and answers to common questions.
§ 68-3034.2. Capital reserve fund
A. As used in this act, a "capital reserve fund" shall be a
cash account, which may be used to pay for long-term capital needs
of the county. The capital reserve fund shall be funded from the
general budget or other legal source. The balance of the capital
reserve fund shall not be part of the general budget within the
estimate of needs but shall be recorded on the estimate of needs as
a special fund. When the county has excess funds, the county may by
resolution deposit the funds in the capital reserve fund. However,
after the funds are so transferred, they are not transferable back
to the original source.
B. Expenditures may be made out of the capital reserve fund as
needed and determined by the board of authority. Expenditures are
limited to county facilities. Such expenditures must be spent in
accordance with Section 1500 et seq. of Title 19 of the Oklahoma
Statutes.
C. The Office of the State Auditor and Inspector may establish
proper documents and procedures.
Added by Laws 2021, c. 52, § 3, eff. July 1, 2021.
Frequently Asked Questions About Oklahoma § 68-3034.2
What does Oklahoma Statutes § 68-3034.2 cover?
Section 68-3034.2 ("Capital reserve fund") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 68-3034.2?
A common citation format is "Oklahoma Statutes § 68-3034.2" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 68-3034.2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.