Cities and towns; annual audit; agreed-upon-procedures; State Auditor and Inspector; Oklahoma Tax Commission; revolving fund; effective date; emergency.

Summary

The bill requires any city or town with $50,000 or more in annual revenue to obtain an annual audit by a licensed CPA and file it with the State Auditor within six months. Smaller municipalities (population under 2,500) may use a biennial audit or request an agreed‑upon‑procedures engagement, with detailed testing requirements. If a municipality does not file the required report, the Oklahoma Tax Commission will hold back its gasoline‑tax allocations until compliance.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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