Agency Special Accounts: Specialized funds typically spent by an agency not for core operations but for other costs associated with carrying out their mission.
OHLAP Fund: The Oklahoma Higher Learning Access Program (OHLAP), also known as Oklahoma’s Promise, is a financial aid program originally created by the Oklahoma Legislature in 1992. The program is administered by the Oklahoma State Regents for Higher Education, and the fund receives a portion of income tax revenues allocated by the State Board of Equalization, pursuant to Section 34.87 of Title 62 of the Oklahoma State Statutes.
Appropriated Funds: Funds an agency receives annually from the legislature.
Budget: A plan outlining how available funding will be used to provide goods and services in order to fulfill assigned responsibilities.
Disbursing Funds: Fund that contains a mix of the types of funds listed above (appropriated, revolving and/or federal).
Expenses: Monies which have been spent by an agency.
Federal Funds: Resources received from the federal government for an agency’s use.
Fiscal Year: For Oklahoma, the fiscal year begins July 1st and ends June 30th.
Revolving Funds: Monies an agency collects outside the normal appropriation process from revenue sources as authorized by law, such as fees and fines.