Excise Board approves $16 million in temporary transfers to shore up general fund
The board approved temporary transfers totaling $16,000,000 from multiple county funds into the general fund to cover payroll and checks; officials described the transfers as short-term borrowing historically repaid by mid-January and allowed under state statute.
The full story
The Oklahoma County Excise Board approved temporary cash transfers totaling $16,000,000 into the general fund to cover payroll and weekly checks during the low-tax collection months. The transfers pool cash from several funds: $6,000,000 from the treasurer’s resale fund (1130), $500,000 from the treasurer’s mortgage-fee fund (1140), $500,000 from the unapportioned fund (6810), $4,000,000 from the Highway Cash Fund (1110), $1,000,000 from the County Road & Bridge Fund (1111), $3,000,000 from the Tinker Clearing 2002 fund, and $1,000,000 from a county bonds 2008 fund (item 2032). Officials said these are cash transfers only and historically are repaid by mid-January when tax receipts arrive.
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