§ 143C-1-2. Appropriations: constitutional requirement; reversions.
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§ 143C-1-2. Appropriations: constitutional requirement; reversions.
(a)Appropriation Required to Withdraw State Funds From the State Treasury. - In accordance with Section 7 of Article V of the North Carolina Constitution, no money shall be drawn from the State treasury but in consequence of appropriations made by law. A law enacted by the General Assembly that expressly appropriates funds from the State treasury is an appropriation; however, an enactment by the General Assembly that describes the purpose of a fund, authorizes the use of funds, allows the use of funds, or specifies how funds may be expended, is not an appropriation.
(b)Reversions. - Unless otherwise provided by law, at the end of the fiscal year the unexpended, unencumbered balance of an appropriation reverts to the fund from which the appropriation was made; except that
(i)an appropriation to the General Assembly shall not revert unless otherwise provided by the Legislative Services Commission,
(ii)an appropriation for a capital improvement project shall revert as provided by G.S. 143C-8-11, and
(iii)an appropriation for the implementation of information technology
(IT)projects shall not revert until the project is implemented or abandoned. (2006-203, s. 3; 2019-250, s. 5.11.)