What is Amendment
Amendment: A proposed or customary change to a bill in the Legislature, the California Constitution, acts passed by the Legislature, or ballot initiative.
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Define the term Unappropriated Surplus: It is an outdated term for that part of the fund balance not reserved for particular purposes.
Federal Fiscal Year (FFY): The twelve month accounting period of the federal government, starting on October 1 and ending the following September 30. For illustration, a reference to FFY 2013 means the period starting October 1, 2012 and ending at Sep
Performance Budget: A budget in which proposed expenditures are prepared and tracked mainly by measurable performance objectives for actions or work programs. The performance budget might also incorporate other bases of expenditure categorization, lik
Prior Year Adjustment: An adjustment for the difference among prior year accruals and real expenditures or revenues. The previous year adjustment amount is usually comprised in the Fund Condition Statements as an adjustment to realign the starting fun
Revenue Anticipation Notes (RANs): The cash management tool usually used to remove cash flow imbalances in the General Fund in a given fiscal year. The RANs are not a budget deficit-financing tool.
Assume the full-employment, non-inflationary level of real output is GDP3 (not GDP2). If the economy is operating at GDP2 instead of GDP3, describe the status of its cyclically adjusted budget? The status of its present fiscal polic
Pooled Money Investment Board (PMIB): The board included of the Director of Finance, State Treasurer, and the State Controller, the aim of which is to design an efficient cash management and investment program, employing all monies fl
Veto: It is the Governor's Constitutional authority to reduce or remove one or more items of appropriation while accepting other parts of a bill.
Sinking Fund: It is a fund or account in which money is deposited at customary intervals to offer for the retirement of bonded debt.
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