California Health and Safety Code 13902 – (a) A district board may establish a reserve for capital …
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(a) A district board may establish a reserve for capital outlays and shall declare the purposes for which the reserve is to be used.
(b) At any time, the district board may transfer to its reserve for capital outlays any unencumbered surplus reserve remaining at the end of a fiscal year.
Terms Used In California Health and Safety Code 13902
- District: means a fire protection district created pursuant to this part or created pursuant to any law which this part supersedes. See California Health and Safety Code 13802
- District board: means the board of directors of a district. See California Health and Safety Code 13802
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
(c) A capital outlay reserve shall be used only for the purposes specified by the district board. However, if a district board finds at the time it adopts its final budget that the reserve is no longer required, it may, by unanimous vote, discontinue the reserve or transfer any balance to the district’s general fund.
(Repealed and added by Stats. 1987, Ch. 1013, Sec. 11.)