A. As used in this act, a “capital reserve fund” shall be a cash account, which may be used to pay for long-term capital needs of the county. The capital reserve fund shall be funded from the general budget or other legal source. The balance of the capital reserve fund shall not be part of the general budget within the estimate of needs but shall be recorded on the estimate of needs as a special fund. When the county has excess funds, the county may by resolution deposit the funds in the capital reserve fund. However, after the funds are so transferred, they are not transferable back to the original source.

B. Expenditures may be made out of the capital reserve fund as needed and determined by the board of authority. Expenditures are limited to county facilities. Such expenditures must be spent in accordance with Section 1500 et seq. of Title 19 of the Oklahoma Statutes.

C. The Office of the State Auditor and Inspector may establish proper documents and procedures.