A. There is hereby established a Retained Revenue Fund, not subject to fiscal year limitation, to be administered by the Treasurer of the Osage Nation.

B. The Retained Revenue Fund shall be funded by the tribal funds unobligated from the previous fiscal year as reported by the Treasurer of the Osage Nation upon completion of the annual audit. In this Act. “previous fiscal year” shall mean the most recent fiscal year for which an annual audit has been completed.

C. The initial deposit shall be the unobligated tribal funds from the 2015 fiscal year.

D. Upon completion of an annual audit, the Treasurer shall report the total amount of unobligated tribal funds within fourteen (14) days to the Osage Nation Congress and the Principal Chief.

E. One hundred percent (100%) of the unobligated tribal funds shall be deposited in the Retained Revenue Fund annually within thirty (30) days of the completion of an annual audit.

F. The funds deposited in the Retained Revenue Fund shall be invested in accordance with the approved investment policy of the Osage Nation, and all interest and dividends derived from the Retained Revenue Fund investments shall be deposited in the general fund in the Treasury.

G. Expenditures out of the Retained Revenue Fund are prohibited.

H. The Osage Nation Congress shall appropriate, at its discretion, out of the Retained Revenue Fund for the benefit of the Osage Nation. Appropriations out of the Retained Revenue Fund shall require a super majority of eight affirmative votes in favor of the appropriation. ONCA 16-107, eff. Oct. 4, 2016; ONCA 17-06, eff. Dec. 6, 2016.