18.1401 Meanings of words and phrases. Sec. 401. For purposes of this article, the words and phrases defined in sections 402 to 404 have the meanings ascribed to them in those sections. History: 1984, Act 431, Eff. Mar. 29, 1985 Popular Name: Act 431Popular Name: DMB
18.1402 Definitions; C to E. Sec. 402. (1) “Comprehensive annual financial report” means the official annual financial report of the state published by the department in accordance with section 23 of article IX of the state constitution of 1963. (2) “Disbursement” means payment. (3) “Encumbrance” means a commitment related to unperformed contracts for goods and […]
18.1403 Definitions; I to R. Sec. 403. (1) “Imprest cash” means an account with the state treasurer into which a fixed amount of money is placed for the purpose of minor or emergency disbursements. (2) “Indirect cost” means an amount which is received from the federal government relative to administering an award, contract, or grant […]
18.1404 Definitions; R to W. Sec. 404. (1) “Revenues” means the increases in the net current assets of a fund other than from expenditure refunds and residual equity transfers. (2) “Revolving fund” means a self-supporting fund which provides services or sells goods to state agencies, other governmental jurisdictions, or the public. (3) “Unencumbered balance” means […]
18.1411 Repealed. 1988, Act 504, Imd. Eff. Dec. 29, 1988. Compiler’s Notes: The repealed section pertained to certain appropriations unpaid due to employees’ retirement.Popular Name: Act 431Popular Name: DMB
18.1421 Internal control in management of state’s financial transactions; powers of state budget director; accounting principles; implementation of executive reorganization orders. Sec. 421. (1) In order to establish strong internal control in the management of the state’s financial transactions, the state budget director may do any of the following: (a) Issue directives for the accountability, […]
18.1421a Legislative and judicial access to state financial management system. Sec. 421a. (1) The legislative and judicial branches of government shall have uninterrupted access to all capabilities of the state financial management system. (2) A person who deliberately interrupts access violates this section and is subject to a civil penalty of $1,000.00 per day for […]
18.1422 Advances. Sec. 422. The chief executive officer of a principal department may make advances to participants in state programs which require the expenditure of money before reimbursement by the state or receipt of federal money. An advance shall not be made unless the advance is approved by the director of the department of management […]
18.1423 Examination of books, accounts, documents, systems, and financial affairs. Sec. 423. The director may examine, or cause to be examined, the books, accounts, documents, systems, and financial affairs of each state agency for the purpose of determining compliance with directives. History: 1984, Act 431, Eff. Mar. 29, 1985 Popular Name: Act 431Popular Name: DMB
18.1424 Production of books, papers, and documents; examination; testimony; oaths. Sec. 424. (1) Upon demand of the director or any person duly designated by the director, an officer or employee of the state government shall produce for examination, the books of account, papers, and documents of their respective department or agency and shall truthfully answer […]
18.1426 Books, records, and systems; adoption and use. Sec. 426. The chief executive officer of each principal department or state agency shall adopt and use the books, records, methods, and systems of accounting and reporting prescribed by the director. History: 1984, Act 431, Eff. Mar. 29, 1985 Popular Name: Act 431Popular Name: DMB
18.1430 Capped federal funds, special revenue funds, and healthy Michigan fund; report on amounts and sources. Sec. 430. Within 10 working days after formal presentation of the executive budget, the state budget director shall report to the members of the senate and house appropriations committees and the senate and house fiscal agencies on the amounts […]
18.1431 Accounting for activities and programs; assignment; classification of funds. Sec. 431. The director shall assign the accounting for activities and programs established by the legislature to funds and classify each fund into fund types in accordance with generally accepted accounting principles. The director may, in consultation with the chief executive officers of state agencies […]
18.1432 Merging, combining, or segregating fund. Sec. 432. The director, after consultation with the chief executive officer of the state agency significantly involved in the operation of the affected fund, may merge, combine, or segregate any fund which now is or may be provided by law. History: 1984, Act 431, Eff. Mar. 29, 1985 Popular […]
18.1434 Crediting certain revenues to revolving fund; financial plan; report. Sec. 434. Revenues received from rates charged or goods sold and revenue which is received from any other source and designated to be credited to a revolving fund shall be credited to that fund. Within 60 days after the fiscal year begins, the director shall […]
18.1435 Revolving funds; transferring net income to general fund. Sec. 435. The net income earned each fiscal year in the following revolving funds shall be transferred to the state general fund at the end of that fiscal year. The funds to which this section applies are as follows: (a) Liquor purchase revolving fund. (b) Michigan […]
18.1437 Advances to revolving fund; repayment; long term advances for acquisition of equipment; limitation. Sec. 437. (1) The director may make advances to any revolving fund from time to time during a fiscal year, but all of the advances shall be repaid to the fund from which advanced before the end of the fiscal year. […]
18.1441 Disposition of receipts; directives; subsection (1) inapplicable to state agency within legislative branch. Sec. 441. (1) The receipts of the state government, from whatever source derived, shall be deposited pursuant to directives issued by the state treasurer and credited to the proper fund. The director shall issue directives to implement this section relative to […]
18.1442 Expenditure or transfer of funds appropriated to entity within legislative branch. Sec. 442. Funds appropriated to an entity within the legislative branch of state government shall be expended or be transferred to another account only with the written approval of the authorized agent of the legislative entity. When the authorized agent of the legislative […]
18.1443 Money received by state agencies; forwarding to state treasurer; crediting to general fund; limitation on transfers. Sec. 443. Except as otherwise provided by law, all money received by the various state agencies for whom appropriations are made by a budget act shall be forwarded to the state treasurer and credited to the state general […]
