§ 159-7 Short title; definitions; local acts superseded
§ 159-8 Annual balanced budget ordinance
§ 159-9 Budget officer
§ 159-10 Budget requests
§ 159-11 Preparation and submission of budget and budget message
§ 159-12 Filing and publication of the budget; budget hearings
§ 159-13 The budget ordinance; form, adoption, limitations, tax levy, filing
§ 159-13.1 Financial plan for intragovernmental service funds
§ 159-13.2 Project ordinances
§ 159-14 Trust and custodial funds; budgets of special districts
§ 159-15 Amendments to the budget ordinance
§ 159-16 Interim budget
§ 159-17 Ordinance procedures not applicable to budget or project ordinance adoption
§ 159-17.1 Vending facilities
§ 159-18 Capital reserve funds
§ 159-19 Amendments
§ 159-20 Funding capital reserve funds
§ 159-21 Investment
§ 159-22 Withdrawals
§ 159-24 Finance officer
§ 159-25 Duties of finance officer; dual signatures on checks; internal control procedures subject to Commission regulation
§ 159-26 Accounting system
§ 159-27 Distribution of tax collections among funds according to levy
§ 159-27.1 Use of revenue bond project reimbursements; restrictions
§ 159-28 Budgetary accounting for appropriations
§ 159-28.1 Facsimile signatures
§ 159-29 Fidelity bonds
§ 159-30 Investment of idle funds
§ 159-30.1 Trust for other post-employment benefits
§ 159-30.2 Trust for law enforcement special separation allowance benefits
§ 159-31 Selection of depository; deposits to be secured
§ 159-32 Daily deposits
§ 159-32.1 Electronic payment
§ 159-33 Semiannual reports on status of deposits and investments
§ 159-33.1 Semiannual reports of financial information
§ 159-33.2 Interim event reporting
§ 159-34 Annual independent audit; rules and regulations
§ 159-35 Secretary of Local Government Commission to notify units of debt service obligations
§ 159-36 Failure of local government to levy debt service taxes or provide for payment of debt
§ 159-37 Reports on status of sinking funds
§ 159-38 Local units authorized to accept their bonds in payment of certain claims and judgments
§ 159-39 Special regulations pertaining to public hospitals
§ 159-40 Special regulations pertaining to nonprofit corporations receiving public funds
§ 159-41 Special regulations pertaining to joint municipal power agencies
§ 159-42 Special regulations pertaining to public housing authorities
§ 159-42.1 Establishment of nonprofit corporation by public authority authorized

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Terms Used In North Carolina General Statutes > Chapter 159 > Article 3 - The Local Government Budget and Fiscal Control Act

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • 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
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Balanced budget: A budget in which receipts equal outlays.
  • Budget: is a proposed plan for raising and spending money for specified programs, functions, activities or objectives during a fiscal year. See North Carolina General Statutes 159-7
  • Budget resolution: Legislation in the form of a concurrent resolution setting forth the budget. The budget resolution establishes various budget totals, divides spending totals into functional categories (e.g., transportation), and may include reconciliation instructions to designated committees.
  • Chairman: means the chairman of the Local Government Commission. See North Carolina General Statutes 159-1
  • City: includes towns and incorporated villages. See North Carolina General Statutes 159-1
  • Clerk: means an officer or employee of a local government or public authority charged by law or direction of the governing board with the duty of keeping the minutes of board meetings and conserving records evidencing official actions of the board. See North Carolina General Statutes 159-1
  • Commission: means the Local Government Commission. See North Carolina General Statutes 159-1
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • 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.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Fund: is a fiscal and accounting entity with a self-balancing set of accounts recording cash and other resources, together with all related liabilities and residual equities or balances, and changes therein, for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. See North Carolina General Statutes 159-7
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • local government: is a municipal corporation that is not subject to the State Budget Act (Chapter 143C of the N. See North Carolina General Statutes 159-7
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • 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.
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • Public authority: is a municipal corporation (other than a unit of local government) that is not subject to the State Budget Act (Chapter 143C of the N. See North Carolina General Statutes 159-7
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Secretary: means the secretary of the Local Government Commission. See North Carolina General Statutes 159-1
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Special district: is a unit of local government (other than a county, city, town, or incorporated village) that is created for the performance of limited governmental functions or for the operation of a particular utility or public service enterprises. See North Carolina General Statutes 159-7
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3