Terms Used In Kentucky Statutes > Chapter 48 - Budget

• Account: is a technical accounting term meaning a formal record in which related transactions and events, (i. See Kentucky Statutes 48.010
• Activities: means those actions or services performed by a budget unit which depict in a quantitative manner the fulfillment of lawful purposes. See Kentucky Statutes 48.010
• agent: includes managing general agent unless the context requires otherwise. See Kentucky Statutes 304.9-085
• Amortization: Paying off a loan by regular installments.
• any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• 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
• Appropriation: means an authorization by the General Assembly to expend a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in this chapter. See Kentucky Statutes 48.010
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Balanced budget: A budget in which receipts equal outlays.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Biennial highway construction plan: means the specifically identified individual transportation projects or portions thereof identified for funding during the upcoming biennium, which correspond to the first two (2) years of the six (6) year road plan. See Kentucky Statutes 48.010
• Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
• Branch budget recommendation: means the recommendations made to the General
  Assembly by:
  (a) The Governor for the executive branch, including a separate recommendation for the Transportation Cabinet. See Kentucky Statutes 48.010
• Budget: means the complete financial plan for each fiscal year contained in a branch budget bill provided for by this chapter. See Kentucky Statutes 48.010
• Budget unit request: means a detailed statement of the financial requirements of a budget unit by principal budget class, and an estimate of its receipts and expenditures for the next two (2) fiscal years, with the accompanying explanations provided for by this chapter. See Kentucky Statutes 48.010
• City: includes town. See Kentucky Statutes 446.010
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Consensus forecasting group: means the group established by KRS §. See Kentucky Statutes 48.010
• Disbursement: means cash actually paid out for any purpose. See Kentucky Statutes 48.010
• Enacted estimates: means the revenue estimates used by the General Assembly as the basis for appropriations made in the enacted branch budget bills. See Kentucky Statutes 48.010
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal: refers to the United States. See Kentucky Statutes 446.010
• 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.
• Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources or both together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities in accordance with legal restrictions or other limitations, to include:
  (a) "General Fund. See Kentucky Statutes 48.010
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Month: means calendar month. See Kentucky Statutes 446.010
• Oath: A promise to tell the truth.
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• Oversight: Committee review of the activities of a Federal agency or program.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• public funds: means sums actually received in cash or negotiable instruments from all sources unless otherwise described by any state agency, state- owned corporation, university, department, cabinet, fiduciary for the benefit of any form of state organization, authority, board, bureau, interstate compact, commission, committee, conference, council, office, or any other form of organization whether or not the money has ever been paid into the Treasury and whether or not the money is still in the Treasury if the money is controlled by any form of state organization, except for those funds the management of which is to be reported to the Legislative Research Commission pursuant to KRS §. See Kentucky Statutes 446.010
• Receipts: includes the following:
  (a) "Nonrevenue receipts" means values accruing that either decrease an asset or create a liability. See Kentucky Statutes 48.010
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Revenue receipts: means values accruing as a result of taxation or revenues, or both, and without resultant increase in liabilities or decrease in assets, whether such values are represented by cash actually received or by amounts due and payable, or partly by each. See Kentucky Statutes 48.010
• Revenue shortfall: means either:
  (a) An official revenue estimate for either the general fund or road fund that is less than the enacted estimates. See Kentucky Statutes 48.010
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Surplus: means the undesignated fiscal year ending fund balance for the general fund or road fund, reduced by amounts designated to carry forward for appropriation in a subsequent fiscal year. See Kentucky Statutes 48.010
• Treatment: when used in a criminal justice context, means targeted interventions
  that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
• Trustee: A person or institution holding and administering property in trust.
• written: means letters, words, or numbers, or their equivalent, set down by handwriting, typewriting, printing, photostating, photographing, magnetic impulse, mechanical or electronic recording, or other form of data compilation. See Kentucky Statutes 48.010