SECTION 725:20-7-4. Allocation of matching funds among multicounty organizations

(a)   Matching funds appropriated by the Legislature for multicounty organizations shall be allocated among the multicounty organizations who have submitted an acceptable marketing plan and certified audit for the previous fiscal year to the Oklahoma Tourism and Recreation Department. The marketing plan will be considered an application to receive matching funds.

(b)   To be eligible to receive matching funds, a multicounty organization must have raised an average of at least fifty thousand dollars ($50,000.00) in private funds over the three (3) most recent fiscal years.

(c)   The amount allocated to a multicounty organization shall be one hundred percent (100%) of the average amount expended, by the multicounty organization over the three (3) most recent fiscal years, for administration and promotion expenses that would have qualified for reimbursement with matching funds, regardless of whether the expenditures were reimbursed. However, no multicounty organization will receive more than twenty-five percent (25%) per allocation of the amount appropriated by the Legislature.

(d)   The average amount will be derived from the annual independent audits submitted by a multicounty organization for the most recent three (3) years.

(e)   If a multicounty organization has not been audited for three (3) consecutive years, its amount of private sector funds raised will be based on the average of the two (2) most recent years or, if audited for only the immediate past fiscal year, the amount of qualified private sector funds raised during that year.

(f)   In the event the appropriated funds are more, or less than the amount necessary to satisfy one hundred percent (100%) of the overall average, then each association will be allocated an amount equivalent to its percentage of the overall average.

(g)   If a multicounty organization has not utilized the full amount of its allocation (evidenced by either proof of payment, invoice showing obligated expense, work order, or contract) at least thirty (30) days prior to the end of the fiscal year, the unobligated amount shall be reallocated among the multicounty organizations who stipulate they will be able to utilize matching funds in excess of the amount initially allocated. No multicounty organization shall receive more than twenty-five percent (25%) of the reallocated amount.

[Source: Added at 10 Ok Reg 4149, eff 7-26-93; Amended at 19 Ok Reg 2810, eff 7-25-02; Amended at 23 Ok Reg 2004, eff 6-11-06]