Montana Code 7-6-4006. Appropriation power — requirements
7-6-4006. Appropriation power — requirements. (1) A governing body may appropriate money and provide for the payment of the debts and expenses of the local government.
Terms Used In Montana Code 7-6-4006
- 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.
- Governing body: means the elected body responsible for the administration of a local government. See Montana Code 7-6-4002
- Local government: has the meaning provided in 7-6-602. See Montana Code 7-6-4002
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Working capital: means the current assets of a fund minus the current liabilities and designated reserves of a fund. See Montana Code 7-6-4002
(2)Money may not be disbursed, expended, or obligated except pursuant to an appropriation for which working capital is or will be available.
(3)Appropriations may be adjusted according to procedures authorized by the governing body for:
(a)debt service funds for obligations related to debt approved by the governing body;
(b)trust funds for obligations authorized by trust covenants;
(c)any fund for federal, state, local, or private grants and shared revenue accepted and approved by the governing body;
(d)any fund for special assessments approved by the governing body;
(e)the proceeds from the sale of land;
(f)any fund for gifts or donations; and
(g)money borrowed during the fiscal year.
(4)The governing body may amend the budget during the fiscal year by conducting public hearings at regularly scheduled meetings. Budget amendments providing for additional appropriations must identify the fund reserves, unanticipated revenue, or previously unbudgeted revenue that will fund the appropriations.