SECTION 462

(1) Budgetary accounting shall show the budget execution operations in revenue and expenditure. It shall be a single entry accounting by the authorizing officer and the accounting officer each in his own sphere, according to the sectoral budget nomenclature of local authorities. (2) Budgetary accounting shall be intended to verify the executive body'scompliance with the deliberative organ's authorization. (3) The accounting for budgetary revenue and expenditure shall comply with the following principles: - the revenue is recorded in the budget of the year in which it is collected by a public accounting officer; - expenditure shall be recorded, successively at the time of its commitment and then payment, in the budget of the year in which it is committed by the authorizing officer and then paid by the public accounting officer; - all expenses must be charged against the appropriations for the year in question, regardless of the date of the claim. (4) The authorizing officer shall keep auxiliary budgetary accounts for revenue validation and issuance and auxiliary budgetary accounts for expenditure validation and authorization. (5) The public accounting officer shall keep an auxiliary budgetary accounting system which shall provide information on receipts for revenue transactions and payment of expenses. Such system shall show the local authority's outstanding receivables and payables. (6) However, budgetary expenditure committed and validated during the financial year may be paid after the end of the financial year, during a supplementary period, the duration of which may not exceed 30 (thirty) days.