(a) The monies allocated to the department from the fund shall at all times be segregated and kept separate from other federal or state road and bridge funds allocated to the department. Monies from the fund shall only be expended for the maintenance, improvement, replacement, and construction of roads and bridges within the state, including the payment of any debt associated with a road or bridge project or as matching funds for any federally-funded road or bridge projects. The department shall not use monies from the fund for any of the following purposes except in accordance with generally accepted accounting principles for job cost accounting or federal cost allocation regulations:
Terms Used In Alabama Code 23-1-432
Contract: A legal written agreement that becomes binding when signed.
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.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
(1) Salaries, benefits, or any other form of compensation for state or contract employees.(2) The purchase, lease, or maintenance of equipment.(3) The maintenance or construction of public buildings or other structures that are not roads or bridges.(b) The funds allocated to the department shall be audited by the Department of Examiners of Public Accounts in the same manner as all other department funds.(c) On or before October 1 of each year following the creation of the fund, the department shall publicly announce the project or projects which are projected to be funded with the proceeds from the fund during the upcoming fiscal year, and the current list of projects shall be listed on the department’s website at all times. The department’s website shall also include each of the following:
(1) A list of current bid offerings, openings, and awards for each project to be funded in whole or in part with revenues from the fund.(2) Quarterly progress reports on each ongoing project funded in whole or in part with revenues from the fund, including, but not limited to, costs, anticipated completion dates, and any other relevant information regarding a project.(d) In addition to the reporting requirements set out in subsection (c), no later than the first day of the regular session of the Alabama Legislature in each year following the creation of the fund, the department shall submit an annual report detailing all expenditures from the fund during the previous fiscal year to each member of the Legislature.
