State Section 30.00
Section 30.00: It is a Control Section of Budget Act which amends Government Code Section 13340 to tha sunset continuous appropriations.
Reverted Appropriation: An appropriation which is reverted to its fund source after the date its liquidation period has terminated.
Accrual Basis of Accounting: The foundation of accounting in which transactions are identified whenever they take place, regardless of when cash is disbursed or received. The revenue is recorded whenever earned, and expenses are recor
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
FERA stands for The Federal Emergency Relief Administration. The program was renamed as a direct relief operation in Roosevelt Administration. It was a form of an unemployment insurance.
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.
Budget Revision (BR): A document, generally approved by the Department of Finance, which cites a legal authority to authorize a modification in an appropriation. Usually, BRs either raise the appropriation or make adjustments to the groups or programs
Out-of-State Travel (OST) blanket: The request by a state agency for Governor’s Office approval of the proposed out-of-state trips to be taken by that agency’s personnel throughout the fiscal year.
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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Explain characteristics of an efficient market?Market efficiency refers to the speed, ease and cost of trading securities. Within an efficient market, securities can be traded quickly, easily and at low cost. Markets lacking these qualities are
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