Rhode Island Constitution Article IX Section 17 – Budget reserve account
Terms Used In Rhode Island Constitution Article IX Section 17 - Budget reserve account
- 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.
There is hereby established a budget reserve account within the general fund. Revenues in this budget reserve account may be appropriated in the event of an emergency involving the health, safety or welfare of the citizens of the state of Rhode Island or in the event of an unanticipated deficit in any given fiscal year, such appropriations to be approved by a majority vote of each house of the general assembly.