Terms Used In Virginia Code > Title 51.1 > Chapter 10 - Disclosure Requirements for Public Retirement Systems

• 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
• Authority: means an authority created under the provisions of § Virginia Code 15.2-5101
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• 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.
• Improvements: means such repairs, replacements, additions, extensions and betterments of and to a system as an authority deems necessary to place or maintain the system in proper condition for the safe, efficient and economical operation thereof or to provide service in areas not currently receiving such service. See Virginia Code 15.2-5101
• Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Political subdivision: means a locality or any institution or commission of the Commonwealth of Virginia. See Virginia Code 15.2-5101
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• revenue bonds: include notes, bonds, bond anticipation notes, and other obligations of an authority for the payment of money. See Virginia Code 15.2-5101
• Stormwater control system: means a structural system of any type that is designed to manage the runoff from land development projects or natural systems designated for such purposes, including, without limitation, retention basins, ponds, wetlands, sewers, conduits, pipelines, pumping and ventilating stations, and other plants, structures, and real and personal property used for support of the system. See Virginia Code 15.2-5101
• System: means any sewage disposal system, sewer system, stormwater control system, water or waste system, and for authorities created under Article 6 (§ Virginia Code 15.2-5101