As Amended
SEC. 27-103-125. Separation of items; limitation on expenditures; recommendations as to additional taxes or sources of revenue.
The proposed budget of each state agency shall show the amounts required for operating expenses separately from the amounts required for permanent improvements. The overall budget shall show, separately by each source, the estimated amount of general fund revenue and of special fund revenues of general fund agencies. The total proposed expenditures in Part 1 of the overall budget shall not exceed the amount of estimated revenues which will be available in the general and special funds for appropriation or use during the succeeding fiscal year, including any balances which will be on hand in the general and special funds at the close of the then current fiscal year. Beginning with the budget for fiscal year 1994, the total proposed expenditures from the General Fund in Part 1 of the overall budget shall not exceed ninety-eight percent (98%) of the amount of General Fund revenue estimate for the succeeding fiscal year, plus any unencumbered balances in general funds that will be available and on hand at the close of the then current fiscal year. The General Fund revenue estimate shall be the estimate jointly adopted by the Governor and the Joint Legislative Budget Committee. Unencumbered balances in general funds that will be available and on hand at the close of the current fiscal year shall not include projected amounts required to be deposited into the Working Cash-Stabilization Reserve Fund and the Education Enhancement Fund pursuant to Section 27-103-203. The Legislative Budget Office may recommend additional taxes or sources of revenue if in its judgment such additional funds are necessary to adequately support the functions of the state government.
SOURCES: Laws, 1984, ch. 488, Sec. 67, eff from and after July 1, 1984. Laws, 1992, ch. 484, Sec. 12; 1993, ch. 509, Sec. 2, eff from and after July 1, 1993.