Define the term Judgments
Judgments: It is generally refers to decisions made by courts against the state. The payment of judgments is subject to a range of controls and procedures.
Encumbrance: The commitment of all or portion of an appropriation for future expenses. The Encumbrances symbolize commitments associated to unfilled purchase orders or unfulfilled contracts. Exceptional encumbrances are recognized as budgetary expense
Describe GATT, and its goal? GATT is the General Agreement on Tariffs & Trade. This is a treaty that seeks to decrease trade barriers among participant nations.
May Revision: The annual update to the Governor’s Budget having a revised estimate of General Fund revenues for the present and ensuing fiscal years, any proposals to adjust expenditures to reflect the updated revenue estimates,
Fiscal Committees: The committees of members in every house of the Legislature which review the fiscal impact of proposed legislation, comprising the Budget Bill. Presently, the fiscal committees comprise the Senate Budget and Fiscal
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Regulations: It is a rule, order, or standard of common application issued by a state agency to interpret, implement, or make specific law enforced or managed by it, or to govern its measures. With state government, the procedure of adopting or modify
Define the term Price Earning ratio and how it is calculated?
Explain the term Balance Available: In regards to a fund, it is the surplus of resources over uses. For budgeting aims, the balance accessible in a fund condition is the carry-in balance, net of any preceding year adjustments, plus revenues and transf
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