Financial Accounting

The State Board of Education Policies and Procedures for Implementation of the Oklahoma Cost Accounting System (OCAS) and School Finance was presented to the Oklahoma State Board of Education during a regular meeting on March 19, 1992.These policies and procedures have been prepared to assist in the implementation for financial transactions utilizing the coding structure of the Oklahoma Cost Accounting System. The goal of the Financial Services Division of the State Department of Education is to have consistency in coding and accurate implementation of school laws and State Board regulations relating to school finance.

The rules describe the basis of funding of public schools; the duties and procedures for the financial operation of districts; and the responsibilities of the State Department of Education and individual districts in regard to securing, dispensing, reporting and accounting for school funds.

Boards of education, superintendents, business managers, encumbrance clerks, treasurers, independent auditors, and others who have the responsibility for preparation of school district budgets and the administration of school district funds must become familiar with these policies and procedures.

Beginning in December 2020, the Oklahoma State Department of Education, Financial Accounting/ OCAS/ Auditing office will implement a new risk assessment tool as an integral part of the OCAS review of revenues and expenditures. This new risk assessment tool will provide us the knowledge and understanding of your district that will result in a more effective monitoring and review of your OCAS data. The tool will cover many areas of the FY21 OCAS data review and FY20 audit.

Risk Assessment Tool - March 2022
Phase II Training Video
Phase II Training Powerpoint

National Board Certified Teachers Information Letter (PDF) - January 28, 2015

Office of Management and Budget (OMB) Uniform Grant Guidance Memorandum (PDF) - July 1, 2015

Audits for the FY24 school year should be emailed to Katherine.Black@sde.ok.gov or to your Financial Specialist listed below.

If your district had federal expenditures totaling more than $750,000 during a fiscal year,

You are required to submit a single (program-specific) audit to the State Department of Education no later than March 31, 2025.

Any district not meeting the March 31 deadline in accordance with Uniform Administrative Requirement 2 C.F.R Part 200.338 will have all federal award payments withheld until the audit is received.

If your district had federal expenditures totaling less than $750,000 during a fiscal year,

You are required to submit a financial and compliance audit to the State Department of Education no later than April 30, 2025.

Any district not meeting the April 30 deadline in accordance with 70 O. S. § 22-112 will have its State Aid payments withheld until the audit is received.

Audit Acknowledgement FY2024 (PDF)

Audit Contract 2025 (PDF)

Independent School Auditors (PDF) - January 20, 2025

The following information can be found on the State Department of Education Transparency Website.