Define the term year of Completion
Year of Completion (YOC): This is the last fiscal year for which the appropriation is accessible for encumbrance or expenditure.
Schedule 10: (Supplementary Schedule of Appropriations): The Department of Finance control document listing all the appropriations and allocations of funds accessible for expenditure throughout the past, present, and budget years. Such documents are s
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
Budget Year (BY): The next state fiscal year, starting July 1 and ending June 30, for which the Governor's Budget is proposed (that is, the year following the present fiscal year).
Audit: Usually a review of financial statements or performance activity (like an agency or program) to establish conformity or compliance with the applicable laws, regulations, and/or standards. The state has three central association
Abatement: A decrease to an expense which has already been made. In state accounting, only specific kinds of receipts are accounted for as abatements, comprising refund of overpayment of salaries, rebates from vendors and third partie
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Debt Service: The amount (sum) of money needed to pay interest on exceptional bonds and the principal of maturing bonds.
Unscheduled Reimbursements: The Reimbursements collected by an agency which were not budgeted and are accounted for by an individual reimbursement class of an appropriation. To expend unscheduled reimbursements, the budget revision sh
Describe the role of cash and of earnings while a corporation is deciding how much, if any, cash dividends to pay to common stockholders. In the long-run earnings are essential to maintain dividend payments; however at the time an actual dividen
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