Iowa Code 307.47 – Materials and equipment revolving fund — annual purchase report
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1. The highway materials and equipment revolving fund is created from moneys appropriated out of the primary road fund. From this fund shall be paid all costs for materials and supplies, inventoried stock supplies, maintenance and operational costs of equipment, and equipment replacements incurred in the operation of centralized purchasing under the supervision of the administrator responsible for highway programs and activities. Direct salaries and expenses properly chargeable to direct salaries shall be paid from the fund. For each month the administrator responsible for the operations and finances of the department shall render a statement to each highway unit for the actual cost of materials and supplies, operational and maintenance costs of equipment, and equipment depreciation used. The expense shall be paid by the administrator responsible for the operations and finances of the department in the same manner as other interdepartmental billings are paid. The sum paid shall be credited to the highway materials and equipment revolving fund.
Terms Used In Iowa Code 307.47
- Administrator: means the department's administrator for rail and water, or the administrator's designee. See Iowa Code 327F.39
- Department: means the state department of transportation. See Iowa Code 307.1
- Director: means the director of transportation or the director's designee. See Iowa Code 307.1
- 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.
- highway: means the entire width between property lines of every way or place of whatever nature when any part thereof is open to the use of the public, as a matter of right, for purposes of vehicular travel, except in public areas in which the boundary shall be thirty-three feet each side of the center line of the roadway. See Iowa Code 321I.1
- month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
- road: include public bridges, and may be held equivalent to the words "county way" "county road" "common road" and "state road". See Iowa Code 4.1
- Vehicle: means any vehicle as defined in chapter 321. See Iowa Code 321H.2
2. If surplus accrues to the revolving fund in excess of one hundred thousand dollars for which there is no anticipated need or use, the governor shall order that surplus reverted to the primary road fund.
3. When a highway unit shares equipment with another administrative unit of the department, the director shall prorate the costs of the equipment among the administrative units using the equipment.
4. The department shall present a purchase report to the legislative services agency prior to the beginning of each regular annual session of the general assembly. The report shall cover all equipment and vehicle purchases through the highway materials and equipment revolving fund during the preceding fiscal year.