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.
Allocation: The distribution of funds or costs from one account or misuse to one or more accounts or appropriations (example, the allocation of employee compensation funding from the statewide 9800 Budget Act items to the departmental Budget Act items
Describe how utilizing a risk-adjusted discount rate develop capital budgeting decision making compared to utilizing a single discount rate for all projects? The risk-adjusted discount rate develop capital budgeting decision making compared to t
Describe decision rule for accepting or rejecting proposed projects while using internal rate of return? Whenever the internal rate of return is greater than or equal to the required rate of return, the hurdle rate, the project is accepted. Whi
Budget Bill: The legislation symbolizing the Governor’s proposal for spending authorization for the subsequent fiscal year. The Budget Bill is all set by the Department of Finance and submitted to each house of the Legislature i
Financial Reporting: It is a set of documents made generally by government agencies at the end of accounting period. It usually enclose summary of accounting data for that time period, with background forms, notes, and other information.
Describe compensating balances and why do banks needs them from some customers? Under what situation would banks be most likely to impose compensating balances? Compensating balances are funds that a bank needs a customer to maintain in a non-i
Summary Schedules: Different schedules in the Governor’s Budget Summary that summarize state revenues, expenditures and other fiscal and personnel data for the past, present, and budget years.
Reserve: The amount of a fund balance set sideways to give for expenditures from the unencumbered balance for ongoing appropriations, future apportionments, and economic uncertainties, pending salary or price raise appropriations, and appropriations f
Define the term Surplus: It is an outdated term for a fund’s excess of assets (or resources) over liabilities.
Define the term Unappropriated Surplus: It is an outdated term for that part of the fund balance not reserved for particular purposes.
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