(a) Any state agency for which an appropriation is made, may, without at the time furnishing vouchers and itemized statements, draw from that appropriation for use as a revolving fund any of the following: (1) A sum not to exceed 3 percent of the total amount of the appropriation. (2) With the approval of the Director of Finance, a sum in excess of 3 percent but not in excess of 10 percent of the total amount of the appropriation. (3) With the approval of the Director of Finance and the Controller, a sum in excess of 10 percent of the total amount of the appropriation. (b) With the approval of the Director of Finance, any deficiency or shortfall in a state agencyâs revolving fund established pursuant to subdivision (a) may be replenished from an existing appropriation designated by the agency.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.