5 Guam Code Ann. § 22434
Terms Used In 5 Guam Code Ann. § 22434
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
(b) Encumbrances that are returned to the Fund against which it was encumbered are hereby de-appropriated. The appropriate government of Guam department, agency, instrumentality, or public corporation incurring the encumbrance may submit a request for a re-appropriation immediately, to [the Legislature] I Liheslaturan Guåhan. The request for a re- appropriation shall include, but not be limited to, the reason why such appropriation is necessary, and details on the delay of expending the original encumbrance by the requesting department, agency, instrumentality, or public corporation.
(c) All capital improvement, or capital outlay project encumbrances shall be exempted from this Section.
SOURCE: Added as § 22430 by P.L. 27-78:1. Renumbered by Compiler because that number was already occupied by another section and not repealed.