THIS SECTION WAS AMENDED BY ACT 2022-358 IN THE 2022 REGULAR SESSION, EFFECTIVE APRIL 13, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

Terms Used In Alabama Code 29-9-6

  • 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.
  • 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

During the first six months of a fiscal year, the Director of Finance may temporarily transfer available funds in the Budget Stabilization Fund into the Education Trust Fund as necessary to alleviate cash flow problems in the Education Trust Fund. Any funds temporarily transferred shall be repaid to the Budget Stabilization Fund from funds in the Education Trust Fund by September 30 of the fiscal year in which the transfer was made.

(Act 2011-3, p. 90, §6; Act 2015-538, 2nd Sp. Sess., §1; Act 2022-358, §1.)