What is Department
Department: The governmental organization, generally belonging to the third level of the state organizational hierarchy as stated in the Uniform Codes Manual.
Section 1.50: It is a section of the Budget Act which A) Identifies a certain style and format for the codes employed in the Budget Act, B) Authorizes the Department of Finance
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Define the term Surplus: It is an outdated term for a fund’s excess of assets (or resources) over liabilities.
Control Sections: The sections of the Budget Act (that is, 1.00 to the end) giving specific controls on the appropriations itemized in the Section 2.00 of Budget Act.
Cash Basis of Accounting: The base of accounting in which expenditures and revenues are recorded whenever cash is received or distributed.
Budget Act (BA): The annual statute authorizing state departments to use up appropriated funds for the aims stated in the Governor's Budget and improved by the Legislature.
Feeder Funds: For lawful basis accounting purposes, funds into which some taxes or fees are deposited on collection. In some situations administrative costs, collection expenses, and refunds are paid. The balance of such funds is transferable at any t
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.
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