Browse Arkansas Code titles and sections
19-5-603. Overpayments to funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-603. Overpayments to funds.
(a) In the event moneys are distributed to the County Aid Fund and Municipal Aid Fund during any month which are in excess of one-twelfth (1/12) of the amount estimated by the Chief Fiscal Officer of the State to become available to the County Aid Fund and Municipal Aid Fund during the then-current fiscal year, as certified monthly by the Chief Fiscal Officer of the State to the Treasurer of State, up to a maximum of that set out in §§ 19-5-402 and 19-5-404 [repealed] for the County Aid Fund and Municipal Aid Fund, there shall be transferred from the County Aid Fund and Municipal Aid Fund to the Budget Stabilization Trust Fund such amounts as are necessary to repay any loans outstanding from the Budget Stabilization Trust Fund to the County Aid Fund and Municipal Aid Fund before any distribution of general revenue is made to any county or municipality in this state.
(b) The amount remaining to be distributed after repaying the loans under the provisions of this section shall not be less than one-twelfth (1/12) of the amount estimated by the Chief Fiscal Officer of the State to become available to the County Aid Fund and Municipal Aid Fund during the then-current fiscal year or the amount as set out for the County Aid Fund and Municipal Aid Fund in §§ 19-5-402 and 19-5-404 [repealed], whichever is the lesser.
(c) The amount of moneys to be loaned to the County Aid Fund and Municipal Aid Fund in any month from the Budget Stabilization Trust Fund shall be determined by the Chief Fiscal Officer of the State after taking into consideration the amount distributed during the prior months in the then-current fiscal year as well as the amounts estimated to be distributed to the County Aid Fund and Municipal Aid Fund in succeeding months of
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-603
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:19-5-603
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0c51d751a233f380febeebbc4db1097d1b0b0bbb08423432d099c00c82ccf890
Source location: content.xml paragraph 6062
Stored source content
19-5-603. Overpayments to funds.
(a) In the event moneys are distributed to the County Aid Fund and Municipal Aid Fund during any month which are in excess of one-twelfth (1/12) of the amount estimated by the Chief Fiscal Officer of the State to become available to the County Aid Fund and Municipal Aid Fund during the then-current fiscal year, as certified monthly by the Chief Fiscal Officer of the State to the Treasurer of State, up to a maximum of that set out in §§ 19-5-402 and 19-5-404 [repealed] for the County Aid Fund and Municipal Aid Fund, there shall be transferred from the County Aid Fund and Municipal Aid Fund to the Budget Stabilization Trust Fund such amounts as are necessary to repay any loans outstanding from the Budget Stabilization Trust Fund to the County Aid Fund and Municipal Aid Fund before any distribution of general revenue is made to any county or municipality in this state.
(b) The amount remaining to be distributed after repaying the loans under the provisions of this section shall not be less than one-twelfth (1/12) of the amount estimated by the Chief Fiscal Officer of the State to become available to the County Aid Fund and Municipal Aid Fund during the then-current fiscal year or the amount as set out for the County Aid Fund and Municipal Aid Fund in §§ 19-5-402 and 19-5-404 [repealed], whichever is the lesser.
(c) The amount of moneys to be loaned to the County Aid Fund and Municipal Aid Fund in any month from the Budget Stabilization Trust Fund shall be determined by the Chief Fiscal Officer of the State after taking into consideration the amount distributed during the prior months in the then-current fiscal year as well as the amounts estimated to be distributed to the County Aid Fund and Municipal Aid Fund in succeeding months of the then-current fiscal year. It is the intent of the General Assembly to provide a distribution to the counties and municipalities each month of such general revenue as is available which, together with loans from the Budget Stabilization Trust Fund, will provide as even a flow of moneys as is possible throughout the fiscal year while at the same time maintaining the Budget Stabilization Trust Fund in a strong financial position.
(d) All loans made to the County Aid Fund and Municipal Aid Fund from the Budget Stabilization Trust Fund are to be repaid by June 30 of the fiscal year in which the loans were made.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-402. Maximum allocations of revenues for fiscal year 2020-2021 and thereafter.
(a)(1) ALLOCATION A. The Treasurer of State shall first make monthly allocations in the proportions set out in this subsection to the funds and fund accounts listed below until there has been transferred a total of five billion two hundred sixty-one million one hundred eighty-three thousand seven hundred eight dollars ($5,261,183,708) or so much thereof as may become available; provided, that the Treasurer of State shall make such monthly allocations in accordance with each fund or fund account's proportionate part of the total of all such allocations set forth in this subsection:
Maximum Name of Fund or Fund Account Allocation PUBLIC SCHOOL FUND (1) Division of Elementary and Secondary Education Public School Fund Account $2,078,286,320 (2) State Library Public School Fund Account $ 4,795,631 (3) Division of Career and Technical Education Public School Fund Account $ 27,169,899 EDUCATION FUND (1) Division of Elementary and Secondary Education Fund Account $ 13,894,450 (2) Educational Facilities Partnership Fund Account $ 39,737,503 (3) Division of Public School Academic Facilities and Transportation Fund Account $ 2,228,834 (4) Educational Television Fund Account $ 4,655,037 (5) School for the Blind Fund Account $ 6,160,910 (6) School for the Deaf Fund Account $ 8,952,818 (7) State Library Fund Account $ 3,074,283 (8) Division of Career and Technical Education Fund Account $ 8,500 (9) Rehabilitation Services Fund Account $ 10,159,546 Technical Institutes: (10) Northwest Technical Institute Fund Account $ 2,684,145 (11) Riverside Vocational Technical School Fund Account $ 2,004,850 DEPARTMENT OF HUMAN SERVICES FUND (1) Department of Human Services Administr
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-402
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. The source passage cites 19-5-402. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-404. [Repealed.]
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-404
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: repealed. The source passage cites 19-5-404. This identifies an authority to review, not proof of applicability.