OK SB1414

Appropriates funds to the Oklahoma State Regents for Higher Education from the General Revenue Fund for fiscal year ending June 30, 2011, with the specific dollar amount to be determined.

Establishes that appropriated funds (excluding capital outlay) may be budgeted for either fiscal year 2011 or 2012, with encumbrance deadlines of June 30 of the respective fiscal years and expenditure deadlines of November 15 of the following year.

Requires unexpended funds not budgeted for the next fiscal year to lapse to the credit of the proper fund, while allowing carryover of FY-11 funds to FY-12 if budgeted in a revised budget work program approved by the Office of State Finance.

Becomes effective September 1, 2010.