Louisiana Revised Statutes 39:53 – Adoption of financial plan
Terms Used In Louisiana Revised Statutes 39:53
- 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
- Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
- Executive budget: means the document submitted to the legislature at each regular session, pursuant to the provisions of this Chapter and Louisiana Revised Statutes 39:2
- 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.
- Program: means a grouping of activities directed toward the accomplishment of a clearly defined objective or set of objectives. See Louisiana Revised Statutes 39:2
A. The financial plan presented in the executive budget shall be adopted by the passage of such appropriation and revenue acts and such other acts as the legislature may deem necessary to make the financial plan effective and with such amendments as may be determined by the legislature.
B. The financial plan so adopted by the legislature shall be evidenced by the state budget and described by the legislative summary of appropriations for the year which are to be prepared in accordance with the provisions of this Part.
C. The legislature may review and modify the program budget format of the general appropriation bill and other appropriation bills. The format so adopted shall be implemented by the division of administration as prescribed.
D. The fiscal year of the state shall commence on the first day of July of each year and end on the thirtieth day of June of the year next following.
Acts 1989, No. 836, §1, eff. July 1, 1989.