Define Settlements
Settlements: It refers to any proposed or final settlement of the legal claim (generally a suit) against the state. Approval of payments and settlements for settlements are subject to several controls.
Department of Finance (Finance): The Director of Finance functions as the Governor’s chief fiscal policy advisor with the emphasis on financial integrity of the state. Finance is delegated the accountability for preparation of the Governor's Bud
Make-Buy Analysis: Business decision which compares the costs and advantages of manufacturing a product or product component alongside purchasing it. When the purchase price is high than what it would cost the manufacturer to prepare it, or when the m
Planning Estimate (PE): A document employed to record and monitors those present and budget year expenditure adjustments comprising budget change proposals accepted for inclusion in the Governor's Budget. PEs is broken down by department, character, f
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Why do financial managers compute the marginal tax rate?Financial managers utilize marginal tax rates to estimate the future after tax cash flows from investments. Because they are interested in how much of the next dollar earned through n
It is likely that in the next few years, employers will face incresing pressures to reduce their payroll costs. critically evaluate the range of ways by which payroll costs can be reduced whilst taking into account the need to maintain a focus on the
Governmental Cost Funds: For lawful basis accounting and budgeting aims, funds which derive revenue from the taxes, licenses, and fees.
Indirect Costs: The costs which by their nature can’t be readily related with a particular organization unit or program. Similar to general administrative expenses, indirect costs are dispersed to the organizational unit(s) or programs that bene
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