Define the term State Fiscal Year
Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
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Sinking Fund: It is a fund or account in which money is deposited at customary intervals to offer for the retirement of bonded debt.
For banking services how competitive is the market?Along with more than 7,000 banks and thrifts in the U.S., banking is one of the most competitive industries in the world. Assume the following characteristics of the American financial services
Final Budget: Usually refers to the Governor’s Budget as amended by actions taken on the Budget Bill (example, legislative changes, and Governor’s vetoes). Note
$100 is received at the beginning of year 1, $200 is received at the beginning of year 2, and $300 is received at the beginning of year 3. If these cash flows are deposited at 12 percent, their combined future value at the end of year 3 is
Carryover: The unencumbered equilibrium of an appropriation which continues to be obtainable for expenditure in years following to the year of enactment. For illustration, when a three-year appropriation is not completely encumbered in the first year,
Capital Outlay (CO): A character of expenses of funds to obtain land, plan and build new buildings, expand or transform existing buildings, and/or purchase tools associated to such construction.
Reverted Appropriation: An appropriation which is reverted to its fund source after the date its liquidation period has terminated.
Financial Planning: It is a comprehensive assessment of an investor's present and future financial state by employing presently known variables to forecast future cash flows, asset values and the withdrawal plans.
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
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