SECTIONS 32400-32404 - California Statutes

FINANCIAL CODE

SECTION 32400-32404

32400. The financial accounts and records of the corporation shall
be kept by the finance officer according to policies and rules which
the board shall adopt.

32401. The corporation shall adopt as its fiscal year the period
from July 1st to and including the following June 30th.

32402. In addition to other accounts the board may establish, the
financial accounts of the corporation shall include:
(a) A general operating account.
(b) A general reserve account.
(c) An enterprise loan fund.
(d) A government guaranteed securities trust fund.

32403. Except as otherwise provided for in this division, all funds
received by the corporation shall be deposited in the general
operating account of the corporation.

32404. Beginning with the fiscal year which begins July 1, 1982,
and each fiscal year thereafter, the board shall not adopt any budget
for the corporation in which the projected total operating
expenditures exceed the expected balance of the general operating
account.