Montana Code 7-5-2150. Compensated absence liability fund
7-5-2150. Compensated absence liability fund. (1) A board of county commissioners may establish a compensated absence liability fund for the purpose of paying for any accumulated amount of:
Terms Used In Montana Code 7-5-2150
- 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.
(a)sick leave that a county employee is entitled to upon termination of employment with the county in accordance with the provisions of 2-18-618; and
(b)vacation leave that an employee is entitled to upon termination of employment with the county.
(2)The compensated absence liability fund may be used only for the purpose provided in this section.
(3)The compensated absence liability fund may receive money from any source, including funds that have been allocated in any year but have not been expended or encumbered by the end of the fiscal year.
(4)The maximum amount in the fund may not exceed the amount necessary to pay for accumulated sick leave and accumulated vacation leave of county employees on June 30 of the prior fiscal year.