Explain Transfers
Transfers: As employed in Schedule 10Rs and fund situation statements, transfers replicate the movement of resources from one fund to the other based on statutory authorization or particular legislative transfer appropriation authority.
What type of U.S. companies would benefit most from a stronger dollar in the foreign exchange market? Describe. U.S. companies which import goods from other countries would benefit from a stronger dollar. More units of foreign currency could b
Program Cost Accounting (PCA): The level of accounting which identifies costs by activities executed in achievement of a purpose in contrast to the traditional line-item format. The aim of accounting at this level is to generate cost data adequately a
Pro Rata: It is the amount of state administrative costs, paid from General Fund and the Central Service Cost Recovery Fund (example, amounts expended by the central service departments like the State Treasurer's Office, State Controller's Office, Sta
Expenditure Authority: The authorization to make expenditure (generally by a budget act appropriation, provisional language or some other legislation).
Cost-of-Living Adjustments (COLA): Increases offered in state-funded programs which comprise periodic adjustments predetermined in state law (statutory, like K-12 education apportionments), or established at optional levels (that is discretionary) by
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Section 8.50: The Control Section of Budget Act gives the authority to raise federal funds expenses authority.
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,
Generally Accepted Accounting Principles (GAAP): The accounting rules, principles, conventions, and procedures which are employed for accounting and financial reporting. The GAAP for governments are put by the Governmental Accounting Standards Board (
Refund to Reverted Appropriations: It is a receipt account to record the return of monies (example, abatements and reimbursements) to appropriations which have reverted.
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