Define Referendum
Referendum: This is the power of the electors to support or reject statutes or parts of statutes, with particular exceptions and meeting particular deadlines and number of voter’s signatures.
Fund Balance: For accounting aims, the excess of a fund’s assets over its liabilities. And for budgeting aims, the surplus of a fund’s resources over its expenses.
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How do financial managers compute the average tax rate?Average tax rates are calculated through dividing tax dollars paid by earnings before taxes (EBT).
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.
Budget Act (BA): The annual statute authorizing state departments to use up appropriated funds for the aims stated in the Governor's Budget and improved by the Legislature.
Expenditure: The expenditures reported on a department’s annual financial reports and “past year” budget documents comprises of amounts paid and accruals (comprising encumbrances and payables) for obligations made for the fiscal year
FIN 335: Time Value of Money Problems Computed on a Texas Instrument BA II Plus financial calculator Before you start: ? The calculator com
Refund to Reverted Appropriations: It is a receipt account to record the return of monies (example, abatements and reimbursements) to appropriations which have reverted.
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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