Terms Used In Utah Code > Title 19 > Chapter 11 > Part 3 - Utah Board Members

• Budgetary accounts: means those accounts necessary to reflect budgetary operations and conditions, such as estimated revenues, appropriations, and encumbrances. See Utah Code 51-5-3
• Expenditures: means decreases in net financial resources from other than interfund transfers, refundings of general long-term capital debt, and other items indicated by GASB. See Utah Code 51-5-3
• Fiscal period: means any period at the end of which a governmental unit determines its financial position and the results of its operations. See Utah Code 51-5-3
• 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, composed of financial resources and other assets, all related liabilities and residual equities or balances and changes in those resources, assets, liabilities, and equities that, when recorded, are segregated for the purpose of carrying on specific activities or attaining certain objectives, according to special regulations, restrictions, or limitations. See Utah Code 51-5-3
• GASB: means the Governmental Accounting Standards Board that is responsible for accounting standards used by public entities. See Utah Code 51-5-3
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Postemployment: means that period of time following:
       (20)(a) the last day worked by an employee as a result of his long-term disability; or
       (20)(b) the date that an employee identifies as the date on which the employee intends to retire or terminate from state employment. See Utah Code 51-5-3
• Postemployment benefits: means benefits earned by employees that will not be paid until postemployment, including unused vacation leave, unused converted sick leave, sick leave payments, and health and life insurance benefits as provided in Section 63A-17-501. See Utah Code 51-5-3
• Revenue: means the increase in ownership equity during a designated period of time that is recognized as earned. See Utah Code 51-5-3
• State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5