(1) The appropriations opened in the budget of the local authority to cover each of its expenditure shall comprise commitment authorizations and payment appropriations.
(2) Commitment authorizations shall constitute the upper limit of expenditure that may be committed during a financial year and whose payment may, where appropriate, be spread over several years within the medium-term budget framework.
(3) Payment appropriations shall constitute the upper limit of expenditure that may be paid during the year to cover commitments made under commitment authorizations.
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(4) Regarding operating expenditure, the amount of commitment authorizations opened shall be equal to the amount of payment appropriations opened.
(5) For investment expenditure committed during a financial year, the amount of commitment authorizations opened shall be equal to the amount of payment appropriations opened.
Official text
Transcription: Spot-checked
In force from 24-12-2019
Source page 96
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 412 of the Law No 2019/024 of 24 december 2019 bill to institute the general code of regional and local authorities/akn/cm/act/loi/2019-12-24/2019-024
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