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Form a Business

Surplus of unencumbered funds; disposition.

MCL 120.125
in effect
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120.125. Surplus of unencumbered funds; disposition. Sec. 25. If at the end of a fiscal year a surplus of unencumbered funds remains after providing for the operating expenses of an authority, the funds do not lapse back to this state or constituent units but are carried forward for the next fiscal year of the authority. 1978, Act 639, Imd. Eff. Jan. 11, 1979; Am. 2026, Act 77, Imd. Eff. July 27, 2026 [Compiler] See Compiler's note to MCL 120.130.
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-120-125Fetched: 10/20/2026

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