What do you mean by the term Year of Appropriation
Year of Appropriation (YOA): It refers to the initial year of an appropriation.
Staff Benefits: It is an object of expenditure symbolizing the state costs of contributions for employee’s retirement, health benefits, OASDI, and non-industrial disability leave advantages.
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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Organization Code: The four-digit code allotted to each state governmental entity (and at times to exclusive budgetary programs) for fiscal system aims. The organization code is the initial segment of the budget item or appropriation
Describe risk aversion? Risk aversion is the tendency to ignore additional risk. Risk-averse people will ignore risk if they can, unless they attain additional compensation for letting that risk. In finance, the added compensation is a higher ex
Floor: The Assembly or Senate chambers or the word employed to explain the location of a bill or the kind of session. Matters might be termed to as “on the floor”.
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
Modified Accrual Basis: The base of accounting in which revenues are acknowledged when the underlying transaction has occurred as of the last day of the fiscal year and the quantity is measurable and accessible to finance expenditures
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