§ 159-7. Short title; definitions; local acts superseded. - North Carolina Statutes

SUBCHAPTER III. BUDGETS ANDFISCAL CONTROL.

Article 3.

The Local GovernmentBudget and Fiscal Control Act.

Part 1. Budgets.

§ 159‑7.  Short title;definitions; local acts superseded.

(a)        This Article may becited as "The Local Government Budget and Fiscal Control Act."

(b)        The words andphrases defined in this section have the meanings indicated when used in thisArticle, unless the context clearly requires another meaning.

(1)        "Budget"is a proposed plan for raising and spending money for specified programs,functions, activities or objectives during a fiscal year.

(2)        "Budgetordinance" is the ordinance that levies taxes and appropriates revenuesfor specified purposes, functions, activities, or objectives during a fiscalyear.

(3)        "Budgetyear" is the fiscal year for which a budget is proposed or a budgetordinance is adopted.

(4)        "Debtservice" is the sum of money required to pay installments of principal andinterest on bonds, notes, and other evidences of debt accruing within a fiscalyear, to maintain sinking funds, and to pay installments on debt instrumentsissued pursuant to Chapter 159G of the General Statutes or Chapter 159I of theGeneral Statutes accruing within a fiscal year.

(5),       (6) Repealed bySession Laws 1975, c. 514, s. 2.

(7)        "Fiscal year"is the annual period for the compilation of fiscal operations, as prescribed inG.S. 159‑8(b).

(8)        "Fund" isa fiscal and accounting entity with a self‑balancing set of accountsrecording cash and other resources, together with all related liabilities andresidual equities or balances, and changes therein, for the purpose of carryingon specific activities or attaining certain objectives in accordance withspecial regulations, restrictions, or limitations.

(9)        Repealed by SessionLaws 1975, c. 514, s. 2.

(10)      "Publicauthority" is a municipal corporation (other than a unit of localgovernment) that is not subject to the State Budget Act (Chapter 143C of theGeneral Statutes) or a local governmental authority, board, commission,council, or agency that (i) is not a municipal corporation, (ii) is not subjectto the State Budget Act, and (iii) operates on an area, regional, or multi‑unitbasis, and the budgeting and accounting systems of which are not fully a partof the budgeting and accounting systems of a unit of local government.

(11)      Repealed by SessionLaws 1975, c. 514, s. 2.

(12)      "Sinkingfund" means a fund held for the retirement of term bonds.

(13)      "Specialdistrict" is a unit of local government (other than a county, city, town,or incorporated village) that is created for the performance of limitedgovernmental functions or for the operation of a particular utility or publicservice enterprises.

(14)      "Taxes" donot include special assessments.

(15)      "Unit,""unit of local government," or "local government" is amunicipal corporation that is not subject to the State Budget Act (Chapter 143Cof the General Statutes) and that has the power to levy taxes, including aconsolidated city‑county, as defined by G.S. 160B‑2(1), and allboards, agencies, commissions, authorities, and institutions thereof that arenot municipal corporations.

(16)      "Vendingfacilities" has the same meaning as it does in G.S. 111‑42(d), butalso means any mechanical or electronic device dispensing items or something ofvalue or entertainment or services for a fee, regardless of the method ofactivation, and regardless of the means of payment, whether by coin, currency,tokens, or other means.

(c)        It is the intent ofthe General Assembly by enactment of this Article to prescribe for localgovernments and public authorities a uniform system of budget adoption andadministration and fiscal control. To this end and except as otherwise providedin this Article, all provisions of general laws, city charters, and local actsin effect as of July 1, 1973 and in conflict with the provisions of Part 1 orPart 3 of this Article are repealed. No general law, city charter, or local actenacted or taking effect after July 1, 1973, may be construed to modify, amend,or repeal any portion of Part 1 or Part 3 of this Article unless it expresslyso provides by specific reference to the appropriate section.

(d)        Except as expresslyprovided herein, this Article does not apply to school administrative units.The adoption and administration of budgets for the public school system and themanagement of the fiscal affairs of school administrative units are governed bythe School Budget and Fiscal Control Act, Chapter 115, Article 9. However, thisArticle and the School Budget and Fiscal Control Act shall be construedtogether to the end that the administration of the fiscal affairs of countiesand school administrative units may be most effectively and efficientlyadministered. (1927,c. 146, ss. 1, 2; 1955, c. 724; 1971, c. 780, s. 1; 1973, c. 474, ss. 3, 4;1975, c. 437, s. 12; c. 514, s. 2; 1981, c. 685, s. 1; 1983 (Reg. Sess., 1984),c. 1034, s. 173; 1987, c. 282, ss. 30, 31; c. 796, s. 3(1); 1989, c. 756, s. 3;1995, c. 461, s. 9; 2006‑203, s. 125.)