Maine Revised Statutes Title 5 Sec. 1676-A – Transfer from Highway Fund Salary Plan
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Terms Used In Maine Revised Statutes Title 5 Sec. 1676-A
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Notwithstanding section 1585, available balances in the Highway Fund Salary Plan program in the Department of Administrative and Financial Services that are no longer required for the purposes for which they were allocated may be made available by financial order upon the recommendation of the State Budget Officer and approval of the Governor to be used to meet the fixed obligation of the Highway Fund for the unfunded actuarial liability in each fiscal year. Any other available balances in the Highway Fund Salary Plan may only be used or made available in accordance with legislative authorization. [PL 2001, c. 219, §2 (AMD).]
SECTION HISTORY
PL 1997, c. 25, §M1 (NEW). PL 2001, c. 219, §2 (AMD).