Terms Used In Florida Statutes > Chapter 218 > Part IV - Investment of Local Government Surplus Funds

• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the State Board of Administration. See Florida Statutes 218.403
• Chief Financial Officer: means the mayor, manager, administrator, clerk, comptroller, treasurer, director of finance, or other local government official, regardless of the title of his or her office, charged with administering the fiscal affairs of a unit of local government. See Florida Statutes 218.403
• 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.
• Current expenses: means expenses to meet known cash needs and anticipated cash-flow requirements for the short term. See Florida Statutes 218.403
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• GASB: means the Governmental Accounting Standards Board. See Florida Statutes 218.403
• GFOA: means the Government Finance Officers Association. See Florida Statutes 218.403
• Governing body: means the body or board in which the legislative power of a unit of local government is vested. See Florida Statutes 218.403
• Legislative Auditing Committee: means a committee or committees designated by joint rule of the Legislature, by the President of the Senate or the Speaker of the House of Representatives, or by agreement between the President of the Senate and the Speaker of the House of Representatives. See Florida Statutes 1.01
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Personal property: All property that is not real property.
• political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 1.01
• Short term: means a maximum of 6 months of operation. See Florida Statutes 218.403
• Surplus funds: means any funds in any general or special account or fund of a unit of local government, or funds held by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be immediately needed for the purposes intended. See Florida Statutes 218.403
• Trust fund: means the pooled investment fund created by…. See Florida Statutes 218.403
• Trustee: A person or institution holding and administering property in trust.
• Unit of local government: means any governmental entity within the state not part of state government and shall include, but not be limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporations, or any other political subdivision of the state. See Florida Statutes 218.403
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01