Terms Used In Hawaii Revised Statutes 302D-29.5

• 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
• charter: means a fixed-term, bilateral, renewable contract between a public charter school and an authorizer that outlines the roles, powers, responsibilities, and performance expectations for each party to the contract. See Hawaii Revised Statutes 302D-1
• Commission: means the state public charter school commission established pursuant to [section] 302D-3 as a statewide authorizer. See Hawaii Revised Statutes 302D-1
• Department: means the department of education. See Hawaii Revised Statutes 302D-1
• Executive director: means the executive director of the state public charter school commission. See Hawaii Revised Statutes 302D-1
• 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.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}