Part 6. Joint Municipal Power Agencies and JointMunicipal Assistance Agencies.
§ 159‑41. Special regulations pertaining tojoint municipal power agencies.
(a) For the purposes of this Part, "joint agency"means a public body corporate and politic organized in accordance with theprovisions of Chapter 159B, or the combination or recombination of any jointagencies so organized.
(b) Except as provided in this Part, none of the provisions ofArticle 3 of this Chapter shall apply to joint agencies. Whenever theprovisions of this Part and the provisions of Chapter 159B of the GeneralStatutes shall conflict, the provisions of Chapter 159B shall govern.
(c) Each joint agency shall operate under an annual balancedbudget resolution adopted by the governing board and entered into the minutes.A budget is balanced when the sum of the appropriations is equal to the sum ofestimated net revenues and appropriated fund balances. The budget resolution ofa joint agency shall cover a fiscal year beginning January 1 and endingDecember 31, except that the Local Government Commission, if it determines thata different fiscal year would facilitate the agency's financial operations, mayenter an order permitting an agency to operate under a fiscal year other thanfrom January 1 to December 31.
(d) The following directions and limitations shall bind thegoverning board in adopting the budget resolution:
(1) The full amount estimated by the finance officer to berequired for debt service during the budget year shall be appropriated.
(2) The full amount of any deficit in each fund shall beappropriated.
(3) Sufficient funds to meet the amounts to be paid during thefiscal year under continuing contracts previously entered into shall beappropriated.
(4) The sum of estimated net revenue and appropriated fundbalance in each fund shall be equal to appropriations in that fund.Appropriated fund balances in a fund shall not exceed the sum of cash andinvestments minus the sum of liabilities, encumbrances, and deferred revenue,as those figures stand at the close of the fiscal year preceding the budgetyear.
(e) The governing board of the joint agency may amend the budgetresolution at any time after its adoption and may authorize its designatedfinance officer to transfer moneys from one appropriation to another, subjectto such limitations and procedures as it may prescribe. All such transfers willbe reported to the governing board or its executive committee at its nextregular meeting and shall be entered in the minutes.
(f) Joint agencies are subject to the following sections ofArticle 3 of this Chapter, to the same extent as a "publicauthority," provided, however, the term "budget ordinance" asused in such sections shall be interpreted for the purposes of this Part tomean the budget resolution of a joint agency:
(1) G.S. 159‑9, provided, however, that the governingboard of an agency may designate as budget officer someone other than a memberof the governing board or an officer or employee of the agency.
(2) G.S. 159‑12, provided, however, that the provisionrelating to making the budget available to the news media of a county shall notapply to a joint agency.
(3) G.S. 159‑13.2.
(4) G.S. 159‑16.
(5) G.S. 159‑18.
(6) G.S. 159‑19.
(7) G.S. 159‑21.
(8) G.S. 159‑22, provided, however, that the provisionrestricting transfers to funds maintained pursuant to G.S. 159‑13(a)shall not apply to a joint agency.
Part 6. Joint Municipal Power Agencies and JointMunicipal Assistance Agencies.
§ 159‑41. Special regulations pertaining tojoint municipal power agencies.
(a) For the purposes of this Part, "joint agency"means a public body corporate and politic organized in accordance with theprovisions of Chapter 159B, or the combination or recombination of any jointagencies so organized.
(b) Except as provided in this Part, none of the provisions ofArticle 3 of this Chapter shall apply to joint agencies. Whenever theprovisions of this Part and the provisions of Chapter 159B of the GeneralStatutes shall conflict, the provisions of Chapter 159B shall govern.
(c) Each joint agency shall operate under an annual balancedbudget resolution adopted by the governing board and entered into the minutes.A budget is balanced when the sum of the appropriations is equal to the sum ofestimated net revenues and appropriated fund balances. The budget resolution ofa joint agency shall cover a fiscal year beginning January 1 and endingDecember 31, except that the Local Government Commission, if it determines thata different fiscal year would facilitate the agency's financial operations, mayenter an order permitting an agency to operate under a fiscal year other thanfrom January 1 to December 31.
(d) The following directions and limitations shall bind thegoverning board in adopting the budget resolution:
(1) The full amount estimated by the finance officer to berequired for debt service during the budget year shall be appropriated.
(2) The full amount of any deficit in each fund shall beappropriated.
(3) Sufficient funds to meet the amounts to be paid during thefiscal year under continuing contracts previously entered into shall beappropriated.
(4) The sum of estimated net revenue and appropriated fundbalance in each fund shall be equal to appropriations in that fund.Appropriated fund balances in a fund shall not exceed the sum of cash andinvestments minus the sum of liabilities, encumbrances, and deferred revenue,as those figures stand at the close of the fiscal year preceding the budgetyear.
(e) The governing board of the joint agency may amend the budgetresolution at any time after its adoption and may authorize its designatedfinance officer to transfer moneys from one appropriation to another, subjectto such limitations and procedures as it may prescribe. All such transfers willbe reported to the governing board or its executive committee at its nextregular meeting and shall be entered in the minutes.
(f) Joint agencies are subject to the following sections ofArticle 3 of this Chapter, to the same extent as a "publicauthority," provided, however, the term "budget ordinance" asused in such sections shall be interpreted for the purposes of this Part tomean the budget resolution of a joint agency:
(1) G.S. 159‑9, provided, however, that the governingboard of an agency may designate as budget officer someone other than a memberof the governing board or an officer or employee of the agency.
(2) G.S. 159‑12, provided, however, that the provisionrelating to making the budget available to the news media of a county shall notapply to a joint agency.
(3) G.S. 159‑13.2.
(4) G.S. 159‑16.
(5) G.S. 159‑18.
(6) G.S. 159‑19.
(7) G.S. 159‑21.
(8) G.S. 159‑22, provided, however, that the provisionrestricting transfers to funds maintained pursuant to G.S. 159‑13(a)shall not apply to a joint agency.
Part 6. Joint Municipal Power Agencies and JointMunicipal Assistance Agencies.
§ 159‑41. Special regulations pertaining tojoint municipal power agencies.
(a) For the purposes of this Part, "joint agency"means a public body corporate and politic organized in accordance with theprovisions of Chapter 159B, or the combination or recombination of any jointagencies so organized.
(b) Except as provided in this Part, none of the provisions ofArticle 3 of this Chapter shall apply to joint agencies. Whenever theprovisions of this Part and the provisions of Chapter 159B of the GeneralStatutes shall conflict, the provisions of Chapter 159B shall govern.
(c) Each joint agency shall operate under an annual balancedbudget resolution adopted by the governing board and entered into the minutes.A budget is balanced when the sum of the appropriations is equal to the sum ofestimated net revenues and appropriated fund balances. The budget resolution ofa joint agency shall cover a fiscal year beginning January 1 and endingDecember 31, except that the Local Government Commission, if it determines thata different fiscal year would facilitate the agency's financial operations, mayenter an order permitting an agency to operate under a fiscal year other thanfrom January 1 to December 31.
(d) The following directions and limitations shall bind thegoverning board in adopting the budget resolution:
(1) The full amount estimated by the finance officer to berequired for debt service during the budget year shall be appropriated.
(2) The full amount of any deficit in each fund shall beappropriated.
(3) Sufficient funds to meet the amounts to be paid during thefiscal year under continuing contracts previously entered into shall beappropriated.
(4) The sum of estimated net revenue and appropriated fundbalance in each fund shall be equal to appropriations in that fund.Appropriated fund balances in a fund shall not exceed the sum of cash andinvestments minus the sum of liabilities, encumbrances, and deferred revenue,as those figures stand at the close of the fiscal year preceding the budgetyear.
(e) The governing board of the joint agency may amend the budgetresolution at any time after its adoption and may authorize its designatedfinance officer to transfer moneys from one appropriation to another, subjectto such limitations and procedures as it may prescribe. All such transfers willbe reported to the governing board or its executive committee at its nextregular meeting and shall be entered in the minutes.
(f) Joint agencies are subject to the following sections ofArticle 3 of this Chapter, to the same extent as a "publicauthority," provided, however, the term "budget ordinance" asused in such sections shall be interpreted for the purposes of this Part tomean the budget resolution of a joint agency:
(1) G.S. 159‑9, provided, however, that the governingboard of an agency may designate as budget officer someone other than a memberof the governing board or an officer or employee of the agency.
(2) G.S. 159‑12, provided, however, that the provisionrelating to making the budget available to the news media of a county shall notapply to a joint agency.
(3) G.S. 159‑13.2.
(4) G.S. 159‑16.
(5) G.S. 159‑18.
(6) G.S. 159‑19.
(7) G.S. 159‑21.
(8) G.S. 159‑22, provided, however, that the provisionrestricting transfers to funds maintained pursuant to G.S. 159‑13(a)shall not apply to a joint agency.
