A Glossary of Terms Used in the Federal Budget ProcessA basic reference document for persons interested in the federal budget-making process. Emphasizes budget terms in addition to relevant economic and accounting terms to help the user appreciate the dynamics of the budget process. Also distinguishes between any differences in budgetary and non-budgetary meanings of terms. Over 300 terms defined. Index. Appendices: overview of the federal budget process, budget functional classification, and more. |
Common terms and phrases
activities Adjustments Allocation amended Antideficiency Act Apportionment appropriation account appropriation acts appropriation or fund authority and outlays budget authority Budget Committees Budget Enforcement Act Budget Functional Classification budget resolution budgetary resources cash Classification Code Subcode concurrent resolution Congress Congressional Budget Act Credit Reform credit subsidy cost direct loan direct spending discretionary spending limits Economics Term enacted Enforcement Act Term Entitlement Authority estimates excess deficit Federal Budget Process federal government Financing Schedule Function or subfunction Functional Classification Code fund account governmental receipts Gramm-Rudman-Hollings gross domestic product Guaranteed Loan Impoundment Control Act included incurred levels Line-Item Veto loan guarantee maximum deficit amount ment net present value offsetting collections offsetting receipts on-budget pay-as-you-go PAYGO payments President President's budget Program and Financing purposes receipt accounts Rescission revenue Seigniorage Senate sequestration report specific Spending Authority tax expenditures tion transactions Treasury Treasury securities trust funds unobligated balances
Popular passages
Page 31 - It shall not be in order in the House of Representatives to consider any resolution providing for an adjournment period of more than three calendar days during the month of July until the House of Representatives has completed action on the reconciliation legislation for the fiscal year beginning on October 1 of the calendar year to which the adjournment resolution pertains, if reconciliation legislation is required to be reported by the concurrent resolution on the budget for such fiscal year.
Page 44 - Acts ; and (C) to make payments (including loans and grants), the budget authority for which is not provided for in advance by appropriation Acts, to any person or government if, under the provisions of the law containing such authority, the United States is obligated to make such payments to persons or governments who meet the requirements established by such law.
Page 65 - The sample used for calculating these indexes contains about 2,800 commodities and about 10,000 quotations per month selected to represent the movement of prices of all commodities produced in the manufacturing, agriculture, forestry, fishing, mining, gas and electricity, and public utilities sectors. The universe includes all commodities produced or imported for sale in commercial transactions in primary markets in the United States. Producer Price Indexes can be organized by stage of processing...
Page 62 - Amounts of orders placed, contracts awarded, services received, and similar transactions during a given period that will require payments during the same or a future period.
Page 56 - deposit insurance" refers to the expenses of the Federal Deposit Insurance Corporation and the funds it incorporates, the Resolution Trust Corporation, the National Credit Union Administration and the funds it incorporates, the Office of Thrift Supervision, the Comptroller...
Page 47 - September 30 of the following year; it is designated by the calendar year in which it ends. For example, fiscal year 1990 began October 1,1989, and ended September 30, 1990.
Page 119 - Programs providing benefits and services, the eligibility for which is related to prior military service, but the financing of which is not an integral part of the costs of national defense.
Page 70 - Whenever the President determines that all or part of any budget authority will not be required to carry out the full objectives or scope of programs for which it is provided or that such budget authority should be rescinded for fiscal policy or other reasons (including the termination of authorized projects or activities for which budget authority has been provided...
Page 32 - Statement, a contingency is defined as an existing condition, situation, or set of circumstances involving uncertainty as to possible gain (hereinafter a "gain contingency") or loss1 (hereinafter a "loss contingency") to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.
Page 7 - Government as agent for others (for example, savings accounts for military personnel, State and local income taxes withheld from Federal employees' salaries, and payroll deductions for the purchase of savings bonds by civilian employees of the Government) . Such transactions affect Treasury's cash balances even though they are not a part of the budget.