Idaho Code 67-3604 – Closing Accounts by State Controller
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Terms Used In Idaho Code 67-3604
- 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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
The state controller shall close his accounts as to all appropriations on the day following the close of each fiscal year, and transfer all balances unencumbered at the close of business on the preceding day to the accounts from which such appropriations are severally made. Error corrections resulting from a fiscal year’s activities may be recorded without legislative authorization in the following fiscal year, provided the corrections do not exceed five hundred thousand dollars ($500,000) and are recorded within six (6) months of the end of the fiscal year. Corrections exceeding five hundred thousand dollars ($500,000) or discovered more than six (6) months after the end of the fiscal year shall be approved by the legislature.