Define Budget Year
Budget Year (BY): The next state fiscal year, starting July 1 and ending June 30, for which the Governor's Budget is proposed (that is, the year following the present fiscal year).
Reverted Appropriation: An appropriation which is reverted to its fund source after the date its liquidation period has terminated.
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Reappropriation: The expansion of an appropriation’s accessibility for encumbrance and/or expenses beyond its set annihilation date and/or for a new point. Re-appropriations are usually authorized by statute for 1-year at a time however might be
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Shared Revenue: It is a state-imposed tax, like the gasoline tax, that is shared with the local governments in proportion, or significantly in proportion, to the amount of tax collected or generated in each local unit. The tax might be collected eithe
Object of Expenditure (Objects): It is a categorization of expenditures based on the kind of goods or services received. For illustration, the budget group of Personal Services comprises the objects of Salaries and Wages and Staff Benefits.
Budget: It is a plan of operation stated in terms of financial or other resource necessities for a particular period of time.
Minor Capital Outlay: The construction projects or tools needed to finish a construction project, estimated to cost less than $600,000 bonus any escalation per Public Contract Code 10108.
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