Castle Rock |
Municipal Code |
CHARTER for the TOWN OF CASTLE ROCK, COLORADO |
Article IX. Budget Control and Finance |
§ 9-15. Lapse of Appropriation.
Latest version.
Every appropriation, except an appropriation for a capital expenditure, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for a capital expenditure shall continue in force until the purpose for which it has been made has been accomplished or abandoned; the purpose of any such appropriation shall be deemed abandoned if three years pass without any disbursement from or encumbrance of the appropriation.