Maine Revised Statutes Title 36 Sec. 1608 – Financial report
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The fiscal administrator of the unorganized territory shall, by March 1st annually, publish a financial report of the status of the Unorganized Territory Education and Services Fund subject to the following provisions. [PL 1989, c. 857, §78 (AMD).]
1. Record of financial transactions. It shall contain a record of all financial transactions of the fund during the preceding fiscal year, including an itemized list of receipts and disbursements from the fund. It shall also contain an itemized record showing the sources of all revenue received by the fund and showing all disbursements for each agency under the municipal cost component by major items of expense comparable with the approved budgetary expenditure classifications under the captions of personal services, contractual services, commodities, debt service and capital expenditures.
[PL 1983, c. 508, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 36 Sec. 1608
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
2. Statement of assets, liabilities, reserves and surplus. It shall contain an itemized statement of the assets, liabilities, reserves and surpluses of the fund under each municipal cost component.
[PL 1983, c. 508, §2 (NEW).]
3. Copies for distribution. Copies of the report shall be given to each member of the Legislature and to each county commissioner in each county which contains unorganized territory. Copies shall be made available in convenient locations for taxpayers in the unorganized territory.
[PL 1983, c. 508, §2 (NEW).]
4. Statement of availability. All tax bills issued under this chapter shall include a statement that the report required by this section is available, if requested.
[PL 1985, c. 459, Pt. C, §17 (NEW).]
SECTION HISTORY
PL 1983, c. 508, §2 (NEW). PL 1985, c. 459, §§C16,17 (AMD). PL 1985, c. 603, §8 (AMD). PL 1989, c. 857, §78 (AMD).