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.
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Planning Estimate Line: The separate planning estimate adjustment or entry for a specific expenditure or type.
Policy Adjustments: The changes to existing law or Administration policies. Such adjustments need action by the Governor and/or Legislature and change the workload budget.
Encumbrance: The commitment of all or portion of an appropriation for future expenses. The Encumbrances symbolize commitments associated to unfilled purchase orders or unfulfilled contracts. Exceptional encumbrances are recognized as budgetary expense
Unanticipated Cost or Funding Shortage: A lack or scarcity of (a) cash in a fund, (b) expenses authority due to an inadequate appropriation, or (c) expenses authority due to a cash problem (example, reimbursements not received on a timely base).
Describe the financial leverage effect and what causes it? Explain the potential benefits and negative consequences of high financial leverage? Financial leverage is the additional volatility of overall income caused through the presence of fix
Cash Basis of Accounting: The base of accounting in which expenditures and revenues are recorded whenever cash is received or distributed.
One-Time Cost: A proposed or real expenditure that is non-recurring (generally only in one annual budget) and not permanently comprised in baseline expenditures. The departments make baseline adjustments to eradicate prior year one-time costs and suit
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