Section 72. General fund

1. Notwithstanding any provision of law to the
  contrary, the general fund of this state shall be defined and maintained
  in accordance with the provisions of this section and shall account  for
  all  financial  resources  of  the  state  except  those  required to be
  accounted for in other funds as defined in this chapter.
    2. (a) There shall be within the general fund a separate account which
  shall be designated and known as the local assistance account and  shall
  reflect all expenditures made for local assistance.
    (b)  There  shall  be within the general fund a separate account which
  shall be designated and known as the state purposes  account  and  shall
  reflect all expenditures made for state purposes.
    3.  Notwithstanding  any inconsistent provision of subdivision five of
  section four of this  chapter,  any  moneys  in  the  general  fund  not
  required  for cash disbursements pursuant to general fund appropriations
  may, in amounts determined and certified by the director of the  budget,
  be transferred to the capital projects fund or any debt service fund for
  the purpose of making payments from such fund pursuant to appropriations
  by  law,  provided that, any balance of moneys so transferred, remaining
  in such fund at the close of each month shall be returned to the general
  fund. No such transfer shall be made until a certificate of approval  of
  availability  for  so  much  as shall be necessary to make disbursements
  pursuant to appropriations by law from such  capital  projects  or  debt
  service  fund for the balance of the month shall have been issued by the
  budget director and a copy of such certificate of  approval  filed  with
  the  state comptroller, the chairman of the senate finance committee and
  the chairman of the assembly ways and means committee.
    4. Any balance of moneys in any debt service fund in  excess  of  both
  the  debt  principal and interest payments required to be made from such
  fund during the current fiscal year, or during future fiscal years,  and
  any  reserve  requirement  established  by statute or by a relevant bond
  covenant, shall be transferred to the general fund.