COMPONENT UNIT DEFINITIONS

The Comprehensive Annual Financial Report (CAFR) includes component units for which it is financially accountable and other organizations for which the nature and significance of their relationship with the State are such that exclusion would cause the State's financial statements to be misleading or incomplete.  However many of the component units listed below operate partially or completely outside of the Office of State Finance.

The Component Units columns of the government-wide financial statements include the financial data of the following entities:

MAJOR COMPONENT UNITS

• CompSource Oklahoma
• State and Education Employees Group Insurance Board
• Oklahoma Student Loan Authority
• Oklahoma Housing Finance Agency
• Oklahoma Turnpike Authority
• Grand River Dam Authority
• Oklahoma Municipal Power Authority
• Higher Education Component Unit - This component unit is primarily comprised of the twenty-five colleges and universities that are members of the Oklahoma State System of Higher Education (the System).  Seventeen of these colleges and universities have one or more foundations that receive and hold economic resources for the benefit of their associated entity.  These foundations are component units of their respective college or university and are included as part of the Higher Education Component Unit.

NONMAJOR COMPONENT UNITS

• Oklahoma Educational Television Authority
• Oklahoma Industrial Finance Authority
• Health Insurance High Risk Pool
• Multiple Injury Trust Fund
• University Hospitals Authority
• Oklahoma Development Finance Authority
• Oklahoma Capital Investment Board

FIDUCIARY COMPONENT UNITS

• Oklahoma Firefighters Pension and Retirement System
• Oklahoma Law Enforcement Retirement System
• Oklahoma Public Employees Retirement System
• Uniform Retirement System for Justices and Judges
• Oklahoma Police Pension and Retirement System
• Teachers’ Retirement System of Oklahoma

In addition, other state agencies have operations that are partially outside of the Office of State Finance.  These include:

• Department of Corrections – funds for inmate services
• Oklahoma Employment Security Commission – unemployment funds held with the Federal government
• Oklahoma Tax Commission – pending motor fuel license deposits

The state agencies below have outside bank accounts for administering debt service payments:

• Office of State Finance
• Oklahoma Capital Improvement Authority
• Department of Tourism and Recreation
• Department of Veterans Affairs
• Department of Human Services