value
$100 is received at the beginning of year 1, $200 is received at the beginning of year 2, and $300 is received at the beginning of year 3. If these cash flows are deposited at 12 percent, their combined future value at the end of year 3 is
Technical: In the budget systems, refers to an amendment which clarifies, accurate, or else does not materially influence the purpose of a bill.
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Section 8.50: The Control Section of Budget Act gives the authority to raise federal funds expenses authority.
Urgency Statute or Legislation: It is a measure which includes an “urgency clause” requiring it to take effect instantly on the signing of the measure by the Governor and the filing of the signed bill with the Secretary of State. The Urgen
Overhead: Those elements of cost essential in the production of an article or the performance of a service that are of such a nature which the amount applicable to the product or service can’t be determined directly. Generally they relate to tho
Floor: The Assembly or Senate chambers or the word employed to explain the location of a bill or the kind of session. Matters might be termed to as “on the floor”.
Augmentation: An authorized raise to a formerly authorized appropriation or allotment. This augment can be authorized by the Budget Act provisional language, control sections, or other legislation. Generally a Budget Revision or an Ex
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
State Operations (SO): It is a character of expenditure symbolizing expenditures for the support of state government, exclusive of capital investments and expenses for the local assistance actions.
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