South Carolina Code 11-25-430. Revolving fund for purchase of office supplies and other commodities
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Terms Used In South Carolina Code 11-25-430
- 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.
From the accumulated unexpended balances of the revolving fund heretofore appropriated for the purchase of office supplies by the Department of Administration the sum of twenty thousand dollars shall be maintained by the State Treasurer as a permanent and continuing revolving fund for the purchase of office supplies or such other commodities as the General Assembly may hereafter direct, to be administered by the board. Should the fund exceed twenty thousand dollars at the end of any fiscal year the surplus shall be transferred to the general fund of the State.