South Dakota Codified Laws 46A-10B-28. Accumulation of funds authorized
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In addition to or in lieu of the separate and special funds authorized in § 9-40-16, the governing body may accumulate funds in a storm drainage fund or other capital reserve fund or operations and maintenance fund established by ordinance or resolution of the governing body. No accumulated funds may revert at the end of the fiscal year, and the governing body may make expenditures from the fund to carry out the purposes of this chapter.
Terms Used In South Dakota Codified Laws 46A-10B-28
- 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.
Source: SL 1989, ch 388, § 34.