7-6-4240. Lapse of appropriation. (1) The appropriation accounts must remain open for a period of 60 days after the end of the fiscal year for the payment of claims incurred against the appropriations prior to the close of the fiscal year and remaining unpaid. After the 60-day period has expired, all appropriations, except as otherwise provided, become null and void, and any lawful claim presented against any appropriation after the expiration of the 60-day period must be provided for in the ensuing budget.
     (2) At the close of each fiscal year, the unencumbered balance of each appropriation must revert to the respective fund from which it was appropriated and is subject to future appropriations unless the governing body authorizes the unencumbered balance of capital outlay appropriations to be reappropriated for the ensuing fiscal year.
     (3) This section does not apply to a municipality that has adopted the alternative accounting method provided for in Title 7, chapter 6, part 6.

     History: En. Sec. 8, Ch. 121, L. 1931; re-en. Sec. 5083.8, R.C.M. 1935; amd. Sec. 2, Ch. 53, L. 1943; R.C.M. 1947, 11-1409(7); amd. Sec. 64, Ch. 430, L. 1995; amd. Sec. 27, Ch. 458, L. 1997.