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Fund 14B

Fund Reference Manual

14B-Budget Stabilization Account

Account Code:
14B
Account Title:
Budget Stabilization Account
Admin Agency:
Office of Financial Management - 1050
Fund Type:
AA - General Fund
Rollup Fund:
AC - Administrative Accts in the General Fund
Cash Type:
1 - Treasury Fund
SAAM Budget Type:
Appropriated (A)
Interest Earning Authority:
43.84.092
Authority:
Closing GL Code:
9250
Description:
Moneys may be appropriated from the Budget Stabilization Account by a majority vote of each house of the Legislature if: (1) forecasted state employment growth for any fiscal year is less than 1 percent; or (2) the Governor declares an emergency resulting from a catastrophic event that requires government action to protect life or public safety. Other withdrawals from the Budget Stabilization Account may be made only by a three-fifths vote of the Legislature. (If ratified by the voters.)
Sources of Revenue:
One percent of general state revenues, Investment income
Clientele:
General public.
Effective Date:
Sun, 07/22/2007
Inactive Date:
Public Notes: