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.
Urgency Statute or Legislation: It is a measure which includes an “urgency clause” requiring it to take effect instantly on the signing of the measure by the Governor and the filing of the signed bill with the Secretary of State. The Urgen
Appropriations Limit, State (SAL): The constitutional limit on the expansion of some appropriations from tax proceeds usually set to the level of the previous year's appropriation limit as adjusted for modifications in cost of living
Schedule 7A: The summary version of the State Controller’s Office detailed Schedule 8 position register for each department. The information replicated in this schedule is the base for the “Salaries and Wages Supplement” exhibited on
Describe Treasury bill? How risky is it?Treasury bills are short term debt instruments issued through the U.S. Treasury which are sold at a discount and pay face value at maturity. They are very close to risk-free as they are backed throug
Debt Financing: Whenever a firm raises money for the working capital or capital expenses by selling bonds, bills, or notes to individual and or institutional investors. In return for lending money, the individuals or institutions become creditors and
Year of Budget (YOB): In this the fiscal year revenues and expenses are recognized. For revenues, this is usually the fiscal year whenever revenues are earned. For expenses, this is usually the fiscal year whenever obligations, compri
Special Fund for Economic Uncertainties: It is a fund in the General Fund (that is, a similar reserve is involved in each special fund) authorized by the statute and Budget Act Control Section 12.30 to offer for emergency situations.
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