Are state agencies permitted to keep unspent appropriations at the end of each fiscal year?
Published 12/30/2013 11:44 AM | Updated 12/30/2013 11:44 AMAre state agencies permitted to keep unspent appropriations at the end of each fiscal year?
Generally, no. Unspent agency appropriations revert to the fund of origin at the close of each fiscal year. These reversions allow the state to sustain sufficient reserves to uphold a strong fiscal position and maintain the state’s critical services in the event of future economic and revenue decline. To see how much a specific agency reverted in FY13, please see http://www.in.gov/sba/files/FY_2013_Reversions-All_Details.pdf.
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