Section 25 Deferred Liabilities
To view the Section 25 Deferred Liabilities report click on the Section 25 Deferred Liabilities hyperlink below. The report is in a pdf format and requires Adobe Reader to view it.
|Section 25 Deferred Liabilities||Section 25 of the State Finance Act provides that the state’s fiscal year lasts from July 1 through June 30 and that expenditures for liabilities incurred within a given fiscal year be paid from that year’s appropriation, with certain exceptions. These exceptions include liabilities for Medicaid, state employee and retiree health insurance and certain spending by the Department of Public Health|