1997 Alaska Statutes
Title 37 PUBLIC FINANCE
Chapter 37.25. MISCELLANEOUS PROVISIONS
Sec. 37.25.010. Unexpended balances of one-year appropriations.
(a) The unexpended balance of a one-year appropriation authorized in an appropriation bill lapses on June 30 of the fiscal year for which appropriated. However, a valid obligation (encumbrance) existing on June 30 is automatically reappropriated for the fiscal year beginning on the succeeding July 1 if it is recorded with the Department of Administration by August 31 of the succeeding fiscal year.
(b) An indebtedness arising from a prior year for which the appropriation has lapsed shall be paid from the current year's appropriations, if (1) this expenditure does not exceed the balance lapsed; and (2) the original obligation date is not more than two years from the requested date of disbursement.
(c) University receipts received on or before June 30 of a fiscal year in excess of the amount expended for that year may be expended in the succeeding fiscal year if an appropriation of university receipts has been made for the succeeding fiscal year. The amount of university receipts expended in a fiscal year may not exceed the amount of university receipts appropriated for that year.
(d) The University of Alaska shall report the amount of university receipts received in one year and expended in the succeeding fiscal year to the Department of Administration and the Legislative Budget and Audit Committee by September 30 of the succeeding fiscal year.
(e) In this section, "university receipts" has the meaning given in AS 14.40.491.
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