What is Reverted Appropriation
Reverted Appropriation: An appropriation which is reverted to its fund source after the date its liquidation period has terminated.
Banks desire to make short-term, self-liquidating loans to businesses. Why? Banks desire to be able to illustrate where the funds are likely to come from such that the borrower is capable to employ to make the req
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
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Reimbursement Warrant (or Revenue Anticipation Warrant): A warrant which has been sold by the State Controller’s Office, as an outcome of a cash shortage in th
Tort: It is a civil wrong, other than a breach of contract, for which the court awards indemnity. The traditional torts comprise malpractice, negligence, assault and battery. Lately, torts have been widely expanded such that the interference with a co
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.
Continuously Vacant Positions: On July 1, the positions which were continuously vacant for six successive monthly pay periods throughout the prior fiscal year are abolished by the State Controller's Office. The six successive monthly
Schedule: The explanation of an appropriation in the Budget Bill or Act, exhibiting its distribution to each of the programs, categories, or therefore projects. OR The supplemen
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
Fund: A lawful budgeting and accounting entity which offers for the segregation of moneys or other resources in the State Treasury for obligations in accordance with particular restrictions or limitations. A separate set of accounts should be maintain
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