Alabama Code 22-6-256. End of fiscal year balances
Terms Used In Alabama Code 22-6-256
- 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.
- following: means next after. See Alabama Code 1-1-1
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
- year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1
At the end of fiscal year 2024, and at the end of every fiscal year thereafter, the unencumbered balance of both the Medicaid State General Fund Account, Account No. 0106, and the Medicaid State General Fund Carryforward Account, Account No. 0110, that was not appropriated in a future budget, shall be transferred to the Medicaid Emergency Reserve Fund no later than November 15 of the following fiscal year. Each year the legislature shall appropriate the expected carryforward in the Medicaid Emergency Reserve Fund back to the fund for use in the next fiscal year. Each year the legislature shall also appropriate any expected transfers from both the Medicaid State General Fund Account, Account No. 0106, and the Medicaid State General Fund Carryforward Account, Account No. 0110, to the Medicaid Emergency Reserve Fund.