A. There is hereby created in the State Treasury a revolving fund for the Oklahoma State University Veterinary Medicine Authority, to be designated the “Oklahoma State University Veterinary Medicine Authority Marketing Revolving Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Oklahoma State University Veterinary Medicine Authority pursuant to the provisions of this section. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the Oklahoma State University Veterinary Medicine Authority for the purpose of marketing research and planning, public education, special events customary to the veterinary care industry, advertising and promotion of special and general services provided or sponsored by the Oklahoma State University Veterinary Medicine Authority and such other purposes specifically authorized by the Legislature. Expenditures from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.

B. An amount equal to one-tenth of one percent (1/10 of 1%) of the total annual operating budget of the Oklahoma State University Veterinary Medicine Authority and such other funds as may be specifically designated for deposit to the fund shall be deposited in the Oklahoma State University Veterinary Medicine Authority Marketing Revolving Fund.

C. The Oklahoma State University Veterinary Medicine Authority Marketing Revolving Fund shall be audited annually by the State Auditor and Inspector. The Oklahoma State University Veterinary Medicine Authority shall reimburse the State Auditor and Inspector from the Oklahoma State University Authority Marketing Revolving Fund for any expenses incurred in auditing said fund.