OK SB1571

Appropriates funds to the Oklahoma State Regents for Higher Education for fiscal year ending June 30, 2011, for education and general operation budgets of institutions and other programs administered by the Regents.

Allows appropriated funds (excluding capital outlay) to be budgeted for either FY-11 or FY-12, with encumbrance deadlines of June 30 of respective years and expenditure deadlines of November 15.

Requires any remaining funds after November 15 not budgeted for the following fiscal year to lapse to the proper fund; permits carryover of unexpended FY-11 funds to FY-12 after budget revision approval.

Prohibits simultaneous budgeting of funds in both fiscal years and requires Office of State Finance approval before moving funds between years.

Effective date is September 1, 2010.