In the event any state agency shall incur obligations in such manner that the funds allocated or belonging to the agency are depleted and the agency is unable to pay all of its outstanding commitments without incurring a deficit, then the Chief Fiscal Officer of the State may suspend all exemptions under the Arkansas Procurement Law, § 19-11-201 et seq., with respect to the agency. Under these circumstances, the Chief Fiscal Officer of the State may notify the agency that all future obligations of any kind whatsoever must be approved by the Chief Fiscal Officer of the State before they become valid obligations against the funds of the agency.
Structure Arkansas Code
Chapter 4 - State Accounting and Budgetary Procedures
Subchapter 7 - Expenditures Generally
§ 19-4-701. Fiscal periods of state
§ 19-4-702. Time limits for presenting vouchers
§ 19-4-703. Redemption of warrants
§ 19-4-704. No obligations without appropriations
§ 19-4-705. Obligations limited to funds available
§ 19-4-706. Interest and carrying charges
§ 19-4-707. Obligations for improvements
§ 19-4-708. Depletion of agency funds
§ 19-4-709. Statement of financial condition