Indiana Code 4-23-2.5-14. Appropriations; reversion of money in fund
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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.
(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.
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