Terms Used In South Carolina Code > Title 4 > Chapter 31 > Article 3 - Berkeley and Dorchester Economic Opportunity Commission

• Agency: means any state office, department, institution, board, commission, council, committee, or other entity of the executive, judicial, or legislative branch. See South Carolina Code 2-65-15
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Appropriations act: means the annual general appropriations act. See South Carolina Code 2-65-15
• Bequest: Property gifted by will.
• Block grant: means federal funds distributed to the State in accordance with a statutory formula for use in a variety of activities within a broad functional area. See South Carolina Code 2-65-15
• Board: means the Executive Budget Office. See South Carolina Code 2-65-15
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Federal funds: means financial assistance made to a state agency by the United States Government in any form including, but not limited to, a grant, loan, subsidy, reimbursement, contract, donation, or shared federal revenues, or noncash federal assistance in the form of equipment, buildings, and land. See South Carolina Code 2-65-15
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Major federal program: means a program which:
  
  (a) represents a transfer of program responsibility from the federal to the state level;
  
  (b) is available to the State on a noncompetitive basis;
  
  (c) is financially significant in relation to its proportion of the administering agency's budget. See South Carolina Code 2-65-15
• Matching funds: means a specific amount of general fund or other funds monies identified by a state agency, and required by the federal government, as a cash contribution for a federal program. See South Carolina Code 2-65-15
• Other funds: means any revenues received by an agency which are not federal funds and are not general funds appropriated by the General Assembly in the appropriations act. See South Carolina Code 2-65-15
• Oversight: Committee review of the activities of a Federal agency or program.
• Personal property: All property that is not real property.
• Quorum: The number of legislators that must be present to do business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.