The Oklahoma Energy Resources Board gets a passing grade from State Auditor and Inspector Gary Jones.
“The Agency’s internal controls provided reasonable assurance that expenditures were accurately reported in the accounting records,” stated Jones in a recent audit covering July 1, 201 through June 30, 2015. “No exceptions were noted as a result of our procedures”
The audit covered FY 2015 revenues of $22,303,309 and expenditures of $16,475,639. It was a routine audit as required by law.
The OERB, created by the legislature in 1993 is under the oversight of an unpaid, 21-member board, 18 of whom are independent oil or natural gas producers or representatives of major oil companies that do business in the state. Six are named by the Governor, six by the President Pro Tempore of the senate and six are named by the Speaker of the House of Representatives. The three remaining members are appointed by the independent producer board members and major oil company members of the Board.