Return to Governor Lowry's Proposed 97-99 Budget Table of Contents

Budgetary Terminology
Allotment Distribution of a biennial appropriation to a specific month and fiscal year. The allotment provides agencies with the authority to spend within an appropriation.
Appropriation A legislative authorization to make expenditures and to incur obligations for specific purposes.
Budgeted Fund A fund whose expenditures are subject to appropriation if held in the state treasury, or subject to allotment if held outside the state treasury.
Character Designated major type of expenditure. Operating expenditures are designated State Operations, and all capital expenditures are designated Capital Improvements.
Expenditures Total charges incurred for services received or assets purchased.
Function The major functional areas by which agencies are grouped according to general purposes, i.e., Education, Natural Resources, Hunan Resources, Governmental Operations, and Transportation.
Fund/Account A sum of money or other resources segregated for the purpose of carrying on specific activities or attaining certain objectives, and constituting an independent fiscal and accounting entry.
Local Fund A fund outside the state treasury managed by a state agency.
Non-Budgeted Fund A fund whose expenditures are not subject to appropriation or allotment control. In general, this includes trust funds held by an agency as a trustee to be expended or invested in accordance with provisions of the trust, business enterprise funds established for proprietary functions conducted by an agency, and working capital funds which finance operations or service units or to supply goods and services to other units.
Object A specific category of expenditures, e.g., salaries and wages, travel, etc.
Other Operating Costs Expenditures made for the Personal Services, Goods and Services, Travel, Capital Outlays, Debt Service, Interagency Reimbursements, and Intra-Agency Reimbursement objects.
Program Measure General indicators of volume of work performed, services provided, or attainment of agency objectives.
Revenue Amounts received in a state fund from taxes, fees, licenses, federal grants and other sources, less refunds.
Salaries and Benefits A sum of expenditures made in the Salaries and Wages and Employee Benefits objects.
Treasury Fund A fund in the state treasury held and invested by the State Treasurer. Treasury funds appearing in the Governor's Budget are appropriated by the legislature.
Undesignated Fund Balance Money, assets, or other resources available for appropriation.
Classification of Budgeted Funds
Governmental Funds
General Fund The General Fund is used to account for all financial resources and transactions not accounted for in another fund.
Basic Account The Basic Account of the General fund is non-restrictive in use and purpose.
Restricted Accounts Accounts established by law as separate accounts within the General Fund. These moneys can only be used for specific and earmarked purposes.
Special Revenue Funds Funds used to account for the proceeds of specific revenue sources (other than expendable trusts or major capital projects) that are legally restricted to expenditures for specified purposes.
Debt Service Funds Funds used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs.
Capital Projects Funds Funds used to account for financial resources to be utilized for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds or Trust Funds).
Other Fund Classifications
Proprietary Funds
Enterprise Funds Funds used to account for operations: (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the cost (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes.
Internal Service Funds Funds used to account for the financing of goods and services provided by one department or agency to other departments or agencies of the state on a cost-reimbursement basis.
Fiduciary Funds
Expendable Trust Funds used to account for assets held by the state in a trustee capacity where the principal and income may be expended in the course of the fund's designated operations.
Nonexpendable Trust A fund type established to account for Trust Funds whose principal may not be expended.
Pension Trust A fund type established to account for transactions, assets, liabilities, and net assets of public employee retirement systems.
Agency Funds Funds used to account for the receipt and disbursement of various taxes, deposits, deductions, and property collected by the state, acting in the capacity of an agent, for distribution to other governmental units or other organizations.