Maryland Code, STATE FINANCE AND PROCUREMENT 7-301
Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 7-301
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) an institution that receives an appropriation for operating expenses; and
(2) an officer or unit of the State government that:
(i) receives an appropriation for operating expenses; or
(ii) has its expenses paid out of the fees collected by the officer or unit.
(b) At the end of each fiscal year, each entity that, during that fiscal year, has received an appropriation for operating expenses shall give the Comptroller notice of:
(1) the amount of the appropriation that is unspent; and
(2) the amount of the unspent part that is needed to meet unpaid obligations incurred during the fiscal year.