State Assistance Revolving Fund

The Oklahoma legislature established the State Assistance Dedicated for Disaster-impacted Local Economies Revolving Fund (Revolving Fund) to provide Oklahoma government subdivisions with critically needed funding advances to cover their immediate financial liquidity needs following a Presidentially declared emergency or disaster. To aid recovery and reconstruction, the legislature directed the Oklahoma Department of Emergency Management (OEM) to administer the Revolving Fund. The following describes the policies and procedures OEM uses to assess borrower eligibility, approve and disburse funds, collect repayments, and manage the fund.

The Revolving Fund provides funding for eligible Federal Emergency Management Agency (FEMA) grant Subrecipients to pay disaster recovery expenditures eligible for reimbursement under FEMA’s Public Assistance (PA) program and Hazard Mitigation Assistance (HMA). The Revolving Fund is designed to help those Subrecipients who may not have sufficient cash on hand to pay for disaster recovery activities.

Eligible applicants may only use advanced financial liquidity for the following purposes:

(1) Costs allowable for Public Assistance, including emergency work for emergency protective measures and debris removal, and permanent work including repair or replacement of roads and bridges, repair or replacement of water control facilities, repair or replacement of public buildings and contents, repair or replacement of utility lines or infrastructure, and repair and replacement of parks, recreation, and other facilities; and

(2) Costs allowable for Hazard Mitigation Assistance, including the Hazard Mitigation Grant Program (HMGP), Flood Mitigation Assistance (FMA), and Building Resilient Infrastructure and Communities (BRIC).

Emergency Rules Approved - View PDF