N.Y. Local Finance Law 108.00 – Financing of safety net assistance on a pay-as-you-go basis
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§ 108.00 Financing of safety net assistance on a pay-as-you-go basis. In the fiscal year of a county, city or town commencing during the calendar year nineteen hundred forty-four, and in each succeeding fiscal year, the total amount of the local share of safety net assistance of such a municipality shall be financed from moneys other than the proceeds of bonds, capital notes or budget notes. If in such fiscal year or the fiscal years succeeding, a supplemental appropriation is made for safety net assistance, the total amount of the local share thereof shall be financed by the issuance of budget notes or from moneys derived from sources other than the proceeds of bonds or capital notes.
Terms Used In N.Y. Local Finance Law 108.00
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.