42-17108. Encumbering municipal monies to pay obligations after close of fiscal year
A. A city or town may encumber monies at the end of a fiscal year for any liabilities incurred during that fiscal year and still outstanding at the end of the fiscal year.
B. Payments may be made from encumbered monies for a period of sixty days immediately after the end of the fiscal year. After the expiration of the sixty day period:
1. Any remaining encumbered balance lapses.
2. No further payments may be made from the budget of the preceding fiscal year.
Section: Previous 42-17101 42-17102 42-17103 42-17104 42-17105 42-17106 42-17107 42-17108 42-17109 42-17110 42-17151 42-17152 42-17153 42-17154 42-17201 NextLast modified: October 13, 2016