42-17108. Encumbering municipal monies to pay
obligations after close of fiscal year


A. A city or town may encumber monies at the end of a fiscal year for any
liabilities incurred during that fiscal year and still outstanding at the end of the
fiscal year.


B. Payments may be made from encumbered monies for a period of sixty days
immediately after the end of the fiscal year. After the expiration of the sixty day
period:


1. Any remaining encumbered balance lapses.


2. No further payments may be made from the budget of the preceding fiscal year.