17-2-105. Maintenance of fund and account records and interfund loans. (1) The state treasurer shall record receipts and disbursements for treasury funds and shall maintain fund records in a manner that reflects the total cash and invested balance of each fund. The state treasurer shall also maintain records of individual funds within the debt service, custodial, capital projects, and trust fund types in a manner that reflects the total cash and invested balance of each fund. When necessary to meet federal or other requirements that money be segregated in the treasury, the state treasurer may establish accounts, funds, or subfunds within any fund type listed in 17-2-102.
(2) (a) For the purpose of supplying deficiencies in the general fund, the state treasurer may temporarily borrow from other treasury funds, excluding pension trust funds, providing that the loan is recorded in the state accounting records. Except as provided in subsection (2)(b), the loan does not bear interest. A fund may not be so impaired that all proper demands on the fund cannot be met.
(b) If a loan to the general fund is made from a fund that retains its own interest, the department shall repay the loan with interest at a rate established by the state treasurer based on the estimated interest rate the funds would have earned if the funds had not been borrowed.
History: (1)En. Sec. 6, Ch. 147, L. 1963; amd. Sec. 1, Ch. 268, L. 1971; amd. Sec. 98, Ch. 326, L. 1974; Sec. 79-414, R.C.M. 1947; (2)En. Sec. 7, Ch. 147, L. 1963; amd. Sec. 2, Ch. 268, L. 1971; amd. Sec. 2, Ch. 321, L. 1973; amd. Sec. 98, Ch. 326, L. 1974; Sec. 79-415, R.C.M. 1947; R.C.M. 1947, 79-414(1), 79-415(4); amd. Sec. 10, Ch. 281, L. 1983; amd. Sec. 2, Ch. 47, L. 1995; amd. Sec. 1, Ch. 11, L. 1999; amd. Sec. 4, Ch. 185, L. 2019.
Structure Montana Code Annotated
Part 1. Treasury Funds and Accounts
17-2-103. Previous definitions of funds -- identification or segregation of money and funds
17-2-104. Additional accounts authorized
17-2-105. Maintenance of fund and account records and interfund loans
17-2-106. Creation and abolition of new accounts
17-2-107. Accurate accounting records and interentity loans
17-2-108. Expenditure of nongeneral fund money first
17-2-109. Department access to records
17-2-110. Fiscal year and financial reports
17-2-112. through 17-2-120 reserved
17-2-124. Disposition of money from certain designated license and other taxes
17-2-125. through 17-2-130 reserved
17-2-131. Genetic engineering technology research and development account created