Define Current Year
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
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Department of Finance (Finance): The Director of Finance functions as the Governor’s chief fiscal policy advisor with the emphasis on financial integrity of the state. Finance is delegated the accountability for preparation of the Governor's Bud
Workload Budget: Workload Budget means the budget year cost of presently authorized services, adjusted for modifications in caseload, enrollment, population, statutory cost-of-living adjustments, one-time expenditures, chaptered legislation, full-year
Define the term Unencumbered Balance: It is the balance of an appropriation not so far committed for particular purposes.
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
Special Items of Expense: It is an expenditure category which covers nonrecurring big expenditures or special aim expenditures which usually need a separate appropriation (or else need separation for clarity).
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