Education (School Funding)

SB 706 removes restrictions on Oklahoma school districts' ability to carry over unused general fund money from one fiscal year to the next and eliminates penalties for exceeding previous spending limits. It directly affects all public school districts by updating funding rules in statutes (70 O.S. §§ 1-117 and 18-200.1) to allow districts greater flexibility in managing operating funds. The bill amends language defining "general fund" and repeals prior limitations on carryover amounts and penalties. This change simplifies financial administration without altering how districts receive state aid or fund capital projects.