Cities and towns; providing certain exemption related to annual financial statements. Effective date.

SB 2130 modifies Oklahoma's municipal audit requirements, allowing cities and towns with $50,000+ total revenue and populations under 2,500 to conduct biennial financial reviews instead of annual audits. It also exempts qualifying small municipalities from needing audits solely to receive federal, state, or local grants. The bill establishes specific financial procedures for these biennial reviews, including documentation checks and fund balance compliance. This change takes effect November 1, 2026, directly affecting small Oklahoma municipalities and related public trusts meeting the criteria.