Okla. Admin. Code § 35:40-3-92

Current through Vol. 42, No. 8, January 2, 2025

Section 35:40-3-92 - Expending funds and budget approval

(a) The Director has ten (10) working days to review the certified organization's budget and submit, in writing, his approval or rejection of their budget.

(b) In the event that a budget is disapproved by the Director, the certified organization must resubmit a plan within thirty (30) days.

(c) A budget shall be disapproved if it does not follow the proposals submitted in the initial petition. A budget shall be disapproved if the projected expenditures exceed their projected revenues and cash assets.

(d) Purchases over $750.00 shall require records indicating three (3) telephone or written bids. If the lowest bid is not accepted justification shall be provided in writing.

(e) No assessment money can be expended by the commodity board, other than refund payments, until sixty (60) days after the assessment has been in force.

Okla. Admin. Code § 35:40-3-92

Added at 17 Ok Reg 299, eff 11-2-99 (emergency); Added at 17 Ok Reg 2871, eff 7-13-00