P.R. Laws tit. 21, § 4307
After the approval of the budget and the beginning of the new fiscal year, the budget accounts to register the estimated revenues and the appropriations in the corresponding fund’s accounts shall be established in the corresponding register. In addition, the amounts appropriated to each account shall be transferred to the budget control books according to the regular expense budget, as well as the appropriations for special and federal programs. Any unused and allocated balance of the appropriations without a specific fiscal year that remain as of June 30 shall also be transferred.
(a) During the course of the year, these books shall reflect the obligations and disbursements and available balances of the appropriations by funds. The appropriations for which no accounts are itemized shall be carried on the books in global form.
(b) Special appropriations for capital improvements and appropriations for specific purposes shall be entered into the books only when the corresponding funds are available to the municipality. Those special appropriations authorized by the Legislature [of Puerto Rico] shall be deposited in a special bank account, separate from any account of the municipality. Every year, at the close of the fiscal year, a report on the surplus in said account shall be submitted to the Legislature [of Puerto Rico], including the disbursements made and the interest earned by it. The interest earned by this account shall be deposited in the current account of the municipality. Provided, That compliance with the latter does not exempt the municipalities from complying with any other requirement or condition imposed upon them by the applicable regulations or laws.
(c) Municipal enterprise funds, and interdepartmental services funds shall be exempted from budget account controls if they do not have budget appropriations. Nevertheless, the necessary accounts shall be registered to determine the income, disbursements and general balance sheet according to generally accepted accounting principles.
History —Aug. 30, 1991, No. 81, § 7.007; Oct. 29, 1992, No. 84, § 31; Apr. 13, 1995, No. 36, § 27; Aug. 11, 1997, No. 72, § 1.