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14-48-122. Budgets and appropriations.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-48-122. Budgets and appropriations.
(a) The approval of the budget by the board of directors shall amount to an appropriation, for the purposes of the budget, of the funds which are lawfully applicable to the different items therein contained.
(b) The board may alter or revise the budget from time to time, and unpledged funds appropriated by the board for any specific purpose may by subsequent action of the board be appropriated to another purpose subject to the following exceptions:
(1) Funds resulting from taxes levied under statute or ordinance for a specific purpose may not be diverted to another purpose; and
(2) Appropriated funds may not be diverted to another purpose where any creditor of the municipality would be prejudiced thereby.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-48-122
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-48-122
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f4bb53e09a0212468df7edb618e8dfe317d9fbdb7f7019cf1b0beb4091202a35
Source location: content.xml paragraph 12886
Stored source content
14-48-122. Budgets and appropriations.
(a) The approval of the budget by the board of directors shall amount to an appropriation, for the purposes of the budget, of the funds which are lawfully applicable to the different items therein contained.
(b) The board may alter or revise the budget from time to time, and unpledged funds appropriated by the board for any specific purpose may by subsequent action of the board be appropriated to another purpose subject to the following exceptions:
(1) Funds resulting from taxes levied under statute or ordinance for a specific purpose may not be diverted to another purpose; and
(2) Appropriated funds may not be diverted to another purpose where any creditor of the municipality would be prejudiced thereby.
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