Minnesota Statutes 16A.502 – Nonstate Commitments to Capital Projects
Current as of: 2023 | Check for updates
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If a state appropriation or grant for a capital project or project phase is not sufficient, by itself, to complete the project or project phase, and thus requires a commitment from other sources:
Terms Used In Minnesota Statutes 16A.502
- 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
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
(1) the commitment, including any required match, must be in an amount that, when added to the appropriation or grant, is sufficient to complete the project or project phase; and
(2) the appropriation or grant is not available until the commissioner has determined that the commitment is sufficient.
In making the determination, the commissioner must apply generally accepted governmental accounting standards and principles, including those that are particularly applicable to capital projects.