Define Control Sections
Control Sections: The sections of the Budget Act (that is, 1.00 to the end) giving specific controls on the appropriations itemized in the Section 2.00 of Budget Act.
Settlements: It refers to any proposed or final settlement of the legal claim (generally a suit) against the state. Approval of payments and settlements for settlements are subject to several controls.
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”.
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
Define the term Unappropriated Surplus: It is an outdated term for that part of the fund balance not reserved for particular purposes.
Language Sheets: The copies of the current Budget Act appropriation items offered to Finance and departmental staff each fall to update for the proposed Governor’s Budget. Such updated language sheets become the proposed Budget Bill. In spring,
Compare and contrast a prescribed benefit and contribution pension plan.In a prescribed benefit plan, retirement benefits are determined by a formula that typically considers the worker's age, salary, and years of service. The employee and
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.
Reimbursements: The amount received as a payment for the cost of services executed, or of other expenditures made for, or on behalf of, other entity (example, one department reimbursing the other for administrative work executed on its behalf). Reimbu
Proposition 98: An initiative passed in the year November 1988, and amended in the year June 1990 election, which provides a minimum funding guarantee for school districts, community college districts, and other state agencies which give direct elemen
Describe the sales forecasting procedure.This is a group effort. Usually sales and marketing personnel provide assessments of demand and the competition. Usually, production personnel provide estimates of manufacturing capacity and other product
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