What is FERA
FERA stands for The Federal Emergency Relief Administration. The program was renamed as a direct relief operation in Roosevelt Administration. It was a form of an unemployment insurance.
Explain primary assumption behind the experience approach to forecasting?The experience approach to forecasting is depending on the supposition that things will happen a certain way in the future since they happened that way in the past. For exa
Debt Service: The amount (sum) of money needed to pay interest on exceptional bonds and the principal of maturing bonds.
Legislative Information System (LIS): An on-line system formed and employed by the Department of Finance to maintain existing information regarding all bills introduced in the Assembly and Senate for the current 2-year session, and fo
Current Year (CY): It is a term utilized in budgeting and accounting to designate the operations of the current fiscal year in contrast to past or future periods.
Abolishment of Fund: It is a closure of fund pursuant to the operation of law. The funds might also be administratively eliminated by the Department of Finance with the concurrence of the State Controller’s Office. Whenever a sp
Special Items of Expense: It is an expenditure category which covers nonrecurring big expenditures or special aim expenditures which usually need a separate appropriation (or else need separation for clarity).
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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3-year Expenditures and Positions: The display at the beginning of each departmental budget which presents the different departmental programs by title, dollar totals, places, and source of funds for the past, current, and budget years.
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
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