Montana Code 17-7-303. Reappropriation of encumbered obligations at end of each fiscal year
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17-7-303. Reappropriation of encumbered obligations at end of each fiscal year. Purchase orders issued and accrued expenses approved by the department of administration shall be encumbered at the end of each fiscal year in the department of administration’s accounts and are hereby reappropriated for the succeeding fiscal year.
Terms Used In Montana Code 17-7-303
- 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.