§ 143C-4-1. Annual balanced budget. - North Carolina Statutes

Article 4.

Budget Requirements.

§ 143C‑4‑1. Annual balanced budget.

The budget recommended by theGovernor and the budget enacted by the General Assembly shall be balanced andshall include two fiscal years beginning on July 1 of each odd‑numberedyear. Each fiscal year and each fund shall be balanced separately. The budgetfor a fund is balanced when the beginning unreserved fund balance for thefiscal year, together with the projected receipts to the fund during the fiscalyear, is equal to or greater than the sum of appropriations from the fund forthat fiscal year. (2006‑203,s. 3.)