Duration of appropriations; closing special budgets.
Section 31
SEC. 31. Duration of appropriations; closing special budgets.—Appropriations for ordinary administrative purposes shall terminate with the fiscal year and all unexpended balances thereof shall be reverted on the thirtieth day of June of each year to the unappropriated account by way of a special budget which shall serve as a supporting document to the corresponding journal voucher. Similarly, thru the special budget, all income accounts shall be brought into balance before closing the books, reducing the classes of income that have been over-estimated and increasing those that have been underestimated to the amounts actually realized. Such special budgets reverting unexpended appropriations for ordinary administrative purposes and of income receivable and actual income adjustments shall not require any action by the local legislative body. However, legislative action by the local board or council is necessary in the following cases: (1) where overdrafts in any of the appropriation accounts have been incurred; and (2) reversions of continuing appropriation or appropriations obligated by the contract as may be authorized by law.