Montana Arts Council Financial-Compliance Audit for the Two Fiscal Years Ended .. 1985

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Employees are paid for 100 percent of unused annual and 25 percent of unused sick leave credits upon termination. Accu- mulated unpaid liabilities for annual and sick leave are not reflect- ed in the financial schedules of the Montana Arts Council. Expen- ditures for termination pay currently are absorbed in the annual operational costs of the department. At June 30, 1985, the council had an approximate liability of $11,772 for annual leave and $8,165 for sick leave.
3. PENSION PLAN State emplo
...yees of the council are covered by the Montana Public Employees' Retirement System (PERS). The department's contribution to this plan was $6,^18 in fiscal year 1983-84 and $4,917 in fiscal year 1984-85.
H. GENERAL FUND BALANCE The General Fund is a Statewide Fund. Agencies do not have a separate General Fund since their only authority is to pay obligations from the Statewide General Fund as long as they stay within their appropriation limits. Thus, on an agency schedule, the beginning and ending fund balance will always be zero for the General Fund.


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