Define Allotment
Allotment: The permitted division of an amount (generally of an appropriation) to be expended for a specific purpose throughout a particular time period. An allotment is usually authorized on line item expenditure basis by program or association.
What do you mean by Authorized: Provided the force of law (example, by statute). For certain action or quantity to be authorized, it should be possible to recognize the enabling source and date of approval.
Describe who owns a credit union? Credit unions are owned through their members. While credit union members put money in their credit union, they are not "depositing" the money technically. In spite of, they are purchasing shares of the cr
Cash Basis of Accounting: The base of accounting in which expenditures and revenues are recorded whenever cash is received or distributed.
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1. Albert Jones went to his local department store to purchase a pair of Levi s. He thought that the style of Levi that he wanted would sell for about $30 a pair. When he got to the store, he saw a sign which said, Levi s, all styles, $18 a pair. Albert bought three pairs of Levi s. The behavior of
Appropriation: The authorization for a particular agency to make expenditures or make obligations from a particular fund for a particular purpose. It is generally limited in amount and period of time during which the expenses is to be
Revenue Anticipation Notes (RANs): The cash management tool usually used to remove cash flow imbalances in the General Fund in a given fiscal year. The RANs are not a budget deficit-financing tool.
Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
Planning Estimate Line: The separate planning estimate adjustment or entry for a specific expenditure or type.
Fiscal Impact Analysis: Usually refers to a section of an analysis (example, bill analysis) which recognizes the costs and revenue impact of a proposal and, to the level possible, a particular numeric estimate for appropriate fiscal years.
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