What is Revenue Anticipation Notes
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.
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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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
Reserve: The amount of a fund balance set sideways to give for expenditures from the unencumbered balance for ongoing appropriations, future apportionments, and economic uncertainties, pending salary or price raise appropriations, and appropriations f
Expenditure Authority: The authorization to make expenditure (generally by a budget act appropriation, provisional language or some other legislation).
Define the term State Fiscal Year: This is the period beginning from July 1 and continuing through the subsequent June 30.
Abatement: A decrease to an expense which has already been made. In state accounting, only specific kinds of receipts are accounted for as abatements, comprising refund of overpayment of salaries, rebates from vendors and third partie
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