SB2130

Oklahoma SB2130 exempts certain municipalities from annual financial statement audits.

Oklahoma SB2130 amends the annual financial statement audit requirements for municipalities. It exempts municipalities with less than $50,000 in total revenue from annual audits, allowing them to opt for biennial audits or agreed-upon procedures. Municipalities with $50,000 or more in revenue and fewer than 2,500 residents must still undergo annual audits unless exempt by other laws or contracts. The bill also outlines specific audit procedures for those required to undergo annual audits.