Oklahoma § 70-4713 - Funds for Excellence Fund

§ 70-4713. Funds for Excellence Fund

There is hereby created in the State Treasury a revolving fund

for the Office of the State Regents for Higher Education to be

designated the "Funds for Excellence Fund". The fund shall be a

continuing fund, not subject to fiscal year limitations and shall

consist of all monies received by the Office of the State Regents

for Higher Education from all funds appropriated for that purpose by

the Legislature and allocated thereto by the State Regents and all

private contributions, grants, and donations of monies made for the

purposes of Sections 4712 through 4715 of this title. All monies

accruing to the credit of said fund are hereby appropriated and may

be budgeted and expended by the Office of the State Regents for

Higher Education for the purposes specified in Sections 4712 through

4715 of this title and for administering the provisions of Sections

4712 through 4715 of this title; however, such monies expended for

such administrative costs shall not exceed five percent (5%) of the

total amount of monies in said fund. Expenditures from said fund

shall be made 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.

Added by Laws 1987, c. 227, § 17, operative July 1, 1987. Amended

by Laws 2012, c. 304, § 642.

Oklahoma Statutes - Title 70. Schools