anticipated budget receipts cfy - “Anticipated” budget receipts, or cash, from external government sources that have been authorized by Congress, or any legislative body, as a legitimate budget funding source. And if realized, or collected, is available for the purchase of goods/services during the current fiscal year.
anticipated cash transfers cfy - “Anticipated” cash transfers, or cash, from internal government sources that have been authorized by Congress, or any legislative body, as a legitimate budget funding source. And if realized, or collected, is available for the purchase of goods/services during the current fiscal year.
anticipated recovery pfy “Anticipated” downward adjustment of obligations (for goods/services received and paid).
anticipated treasury warrant cfy - “Anticipated” Congressional, or legislature, appropriation (and cash via a Treasury warrant) that, if realized, is available for the purchase of goods/services during the current fiscal year.
appropriation - An alphanumeric code used to identify each of the various government agency budgets. (GAP’s integrated budgeting and accounting process summarizes budgeting data in both a budget report, Budget Resource / Status Report, Income and Expense Statement, Retained Income and Expense Statement, and Balance Sheet).
budget deferral - Any action or inaction by a government official that temporarily withholds, delays, or effectively precludes the order of goods/services even though the cash is available to pay for the goods/services.
budget receipts - Budget receipts, or cash, received from external government sources that have been authorized by Congress, or any legislative body, as a legitimate budget funding source. Budget receipts are further defined as External Cash Sources (ECS) because they were received outside the Congressional appropriation process.
budget reserve (contingency) - a portion of the budget (and cash) that is reserved for possible contingencies.
cash anticipated - cash anticipated to be in Treasury sometime during the current fiscal year.
cash collections - moneys received from refunds, overpayments, and duplicate payments. (Note the distinction between cash collections, budget receipts, and cash transfers. That is, cash collections are the result of an accounting operation effort whereas budget receipts and cash transfers are authorized by Congress, or any legislature, as a means of financing a government budget).
cash disbursements - payments made for goods/services received, advances, etc.
cash realized - cash in Treasury.
cash transfers - cash transferred within (to/from) the government i.e. between agencies, appropriations, etc. with the effect of increasing the budget (of the receiving agency). and decreasing the budget (of the issuing agency).
(end of fiscal year) - Cash
remaining in Treasury at the end of the fiscal year. Upon
closing the financial records, this cash is divided and labeled
as cash (unobligated carryover)
and cash (unpaid obligations) PFY.
PFY, and cash (unpaid obligations) PFY.
cash (unobligated carryover) PFY - Cash balance carried over from the prior fiscal year that is available for the purchase of goods/services during the current fiscal year.
cash (unobligated carryover adjustment) PFY -- Adjustments to the initial cash -unobligated carryover (PFY) total. Positive adjustments include cash collections from overpayments or duplicate payments of goods/services purchased in a prior fiscal year, recovery (deobligation of a PFY obligation). Negative adjustments include underpayments of goods/services received in a prior fiscal year.
cash (unpaid obligations) PFY - Cash balance carried over from the prior fiscal year that is available only for the payment of goods and services that can be ordered against the unpaid obligations that were on the books as of the end of the prior fiscal year.
commitment - earmark a portion of a government’s budget for the purchase of goods/services using a procurement request or comparable document (prior to the Procurement Office processing the official obligation document).
current quarter budget - that portion of a government’s budget that is funded, or backed by cash in Treasury, and is available to purchase goods/services during the current quarter. Quarters may vary by different government entities. For the federal government, the first quarter is October thru December; 2nd qtr - January thru March; 3rd qtr - April thru June; 4th qtr - July thru September.
external cash source (ECS) - Any cash source that Congress (or any legislative body) has authorized as a budget funding source. External cash sources include two broad categories of authorized Congressional funding sources -- budget receipts and cash transfers.
expended budget (cfy) - portion of the current fiscal year budget that identifies the cost of goods/services paid during the current fiscal year(s).
expended budget (pfy) - portion of the prior fiscal year budgets that identifies the cost of goods/services paid during the prior fiscal year(s).
funded budget - portion of a government’s budget that is backed by Cash in Treasury. Cash in Treasury (or cash realized) is comprised of: (1) Cash Realized (Prior Fiscal Year), (2) legislatively appropriated moneys financed with a Treasury warrant, and (3) legislatively authorized External Cash Sources including cash transfers (received from within the government but external to the Congressional appropriation process) and budget receipts received from entities both external to government and the Congressional appropriation process.
equity - compares with the private-sector’s stockholders’ equity.
Specifically, stockholders’ equity represents the cumulative result of the
stockholders’ investments, paid-in capital + capital
realized from earnings (summarized as retained earnings). The Balance Sheet
formula (BSF) to compute stockholders’ equity is assets minus liabilities.
Because of government’s unique
budgeting requirements, and private-sector double entry requirements, the BSF
formula to compute government equity is assets + external cash sources
subsequent quarters) budget - any quarterly budgets that are subsequent to the current quarter budget. i.e. The 2nd, 3rd, and 4th quarterly budgets are subsequent to the 1st quarter budget.
total budget resources - equals cash realized plus cash anticipated during the current fiscal year.
treasury warrant - an official document received by a government entity from the Secretary of the Treasury that identifies Congressional appropriations as new obligational authority or supplemental (cash increases) and rescissions (cash decreases). The treasury warrant is equivalent to a cash deposit in the private-sector -- in accordance with government budget office (Office of Management & Budget for the federal government) apportionments. As an example, if a government entity received a $ 100,000 treasury warrant and four $25,000 quarterly apportionments, Treasury would ensure that $25,000 would be available for that particular appropriation at the beginning of each of the four quarters.
unfunded budget - portion of a government’s budget that is not backed by cash in Treasury.
unpaid obligations cfy - the portion of the budget that denotes goods/services that have been ordered during the current fiscal year, with no payments made.
unpaid obligations pfy - the portion of the budget that denotes goods/services that have been ordered during a prior fiscal year, with no payments made.
withheld pending rescission - that portion of an appropriation that Congress initially approved but has subsequently determined that its approval may be withdrawn. This account effectively serves as a reserve account thereby limiting the amount of goods and services that can be ordered, up to the amount of the reserve.
© Copyright 1999 Larry Fisher