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Statutory Reference

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Statutory Reference

Oklahoma statutes require that all money collected in the name of the University be deposited daily with the State Treasurer. Title 62, O.S. Supp. 986, 7.1 states that:

"There is hereby created in the official depository in the State Treasury an agency clearing account for each state officer, department, board, commission, institution or agency of the State, hereafter referred to collectively as state agencies.

It shall be the duty of each state agency, officer or employee, to deposit daily in the agency clearing account or agency special account, established under Section 7.2 of this title, all monies of every kind, including, but not limited to:

  1. Tax revenues;
  2. Receipts from licenses, examinations, per diem and all other reimbursements, fees, permits, fines, forfeitures and penalties, and;
  3. Income from money and property, grants and contracts, refunds, receipts, reimbursements, judgments, sales of materials and services of employees, and non-revenue receipts, received by a state agency, officer or employee by reason of the existence of and/or operation of a state agency."