OK SB2130

Municipalities with $50,000+ in total revenue must have annual financial statement audits prepared by independent licensed or certified public accountants, ordered within 30 days of fiscal year close and filed with the State Auditor within 6 months

Municipalities under 2,500 population with $50,000+ revenue may opt for biennial audits or biennial agreed-upon-procedures engagements instead of annual audits, with 9-month filing deadlines

Grant monies from federal, state, or governmental entities are excluded from municipal income thresholds; public trust income is also excluded except for trusts operating electric, water, wastewater, and sanitation utilities

Municipalities under 500 population with less than $50,000 total revenue are exempt from audit requirements solely to qualify for federal, state, or local grants

Effective date: November 1, 2026