Sec. 14. (a) An appropriation made by the general assembly to the fund shall be allotted and allocated at the beginning of the fiscal period for which the appropriation is made.

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Terms Used In Indiana Code 4-23-2.5-14

  • 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
  • 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.
  • fund: refers to the Indiana arts commission trust fund established by section 4 of this chapter. See Indiana Code 4-23-2.5-3
     (b) Money in the fund at the end of a state fiscal year does not revert to the state general fund or any other fund.

As added by P.L.29-1997, SEC.1.

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