Massachusetts General Laws ch. 29 sec. 6C – Operating budget; expenditures from trust and bond funds; reconciliation of reports of budget director and comptroller
Section 6C. In addition to information required by section 6 to be included in the budget submitted by the governor, said budget shall also include the following information:
Terms Used In Massachusetts General Laws ch. 29 sec. 6C
- 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.
(a) a description of and the amount of expenditure by state agencies from trust funds and bond funds anticipated for the subsequent fiscal year; and
(b) a narrative description accompanied by appropriate fiscal statements which shall reconcile the amounts for state revenues and expenditures for the previous fiscal year as presented by the budget director in the governor’s budget with the amounts of state revenues and expenditures for the previous fiscal year as presented by the comptroller in the annual financial report of the commonwealth. Such description shall include a statement concerning the net consolidated surplus or deficit in the budgetary funds which are subject to direct appropriation.