354.516 - “Encumbrances” defined. - Nevada Statutes

State Codes and Statutes

Statutes > Nevada > Title-31 > Chapter-354 > Budgets-of-local-governments > 354-516

354.516 “Encumbrances” defined. “Encumbrances” means commitments related to unperformed contracts for goods or services, the accounting for which is used to ensure effective budgetary control and accountability and to promote effective cash planning and control. For reporting purposes, encumbrances outstanding at a year’s end represent the estimated amount of the expenditure ultimately to result if the unperformed contracts existing at the year’s end are performed. Encumbrances outstanding at a year’s end do not constitute expenditures or liabilities.

(Added to NRS by 1965, 728; A 1981, 1761)

State Codes and Statutes

Statutes > Nevada > Title-31 > Chapter-354 > Budgets-of-local-governments > 354-516

354.516 “Encumbrances” defined. “Encumbrances” means commitments related to unperformed contracts for goods or services, the accounting for which is used to ensure effective budgetary control and accountability and to promote effective cash planning and control. For reporting purposes, encumbrances outstanding at a year’s end represent the estimated amount of the expenditure ultimately to result if the unperformed contracts existing at the year’s end are performed. Encumbrances outstanding at a year’s end do not constitute expenditures or liabilities.

(Added to NRS by 1965, 728; A 1981, 1761)

State Codes and Statutes

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State Codes and Statutes

Statutes > Nevada > Title-31 > Chapter-354 > Budgets-of-local-governments > 354-516

354.516 “Encumbrances” defined. “Encumbrances” means commitments related to unperformed contracts for goods or services, the accounting for which is used to ensure effective budgetary control and accountability and to promote effective cash planning and control. For reporting purposes, encumbrances outstanding at a year’s end represent the estimated amount of the expenditure ultimately to result if the unperformed contracts existing at the year’s end are performed. Encumbrances outstanding at a year’s end do not constitute expenditures or liabilities.

(Added to NRS by 1965, 728; A 1981, 1761)