(a) A state agency for which regular operating appropriations are made on a fiscal-year basis shall not incur an obligation under the appropriations unless there are funds on hand or an approved federal grant, or estimated to become available, during the fiscal year for the payment of the obligation.
(b) An agency shall not create any obligation in one (1) fiscal year that will make it necessary to use the revenues of the following fiscal year in order to meet the obligation except in the case of multiyear contracts for commodities or services and as provided in § 19-4-707.
(c) (1) If an agency had bank funds that are not required by law to be deposited into the State Treasury, the agency may create additional obligations to the extent of the bank funds on hand, or that are estimated to become available during the fiscal period.(2) However, except in the case of multiyear contracts for commodities or services and as provided in § 19-4-707, the agency shall not create any obligations, in the aggregate, that would make the total of the obligations exceed the total of all funds available to the agency during the fiscal period.
(1) If an agency had bank funds that are not required by law to be deposited into the State Treasury, the agency may create additional obligations to the extent of the bank funds on hand, or that are estimated to become available during the fiscal period.
(2) However, except in the case of multiyear contracts for commodities or services and as provided in § 19-4-707, the agency shall not create any obligations, in the aggregate, that would make the total of the obligations exceed the total of all funds available to the agency during the fiscal period.