OK HB2644

Requires school districts to report financial transactions using the Oklahoma Cost Accounting System with costs categorized by curricular subject area.

Establishes penalties for non-compliance with the accounting system, reducing State Aid payments incrementally from 1% to 8% if districts fail to implement the system.

Mandates the State Department of Education to make school district expenditure data publicly available on its website in downloadable, searchable format within 120 days of district submission.

Requires the Department to certify by December 1 annually that all school districts comply with the School District Transparency Act and related taxpayer transparency requirements before distributing State Aid funds.

Includes financial penalties against the Department itself if it fails to post required data on time, with withholdings ranging from 1% to 8% of the Department's administrative funding for each month of non-compliance; effective July 1, 2012.