Arkansas.gov

Glossary

Term Description
AppropriationLegal authorization granted by the Legislature to make expenditures. An appropriation does not necessarily represent available funding.
Biennial Budget RequestA detailed outline of an agency's budgetary and personnel needs for the next two fiscal years presented to the General Assembly during the regular session.
Capital Expenditure/OutlayExpenditures made for securing capital assets. A capital asset is defined as real, personal or intangible property that has a value equal to or greater than the established capitalization threshold for that asset class, i.e. Land, Buildings, Equipment or Infrastructure, and has an estimated life of greater than one year.
ExpenditurePayments made for the purchase of goods and services.
Fiscal YearThe 12-month period beginning July 1 and ending June 30 used by the state government for accounting purposes. Fiscal year designation is based on the year in which it ends [e.g., fiscal year 2013 (FY-2013) runs from July 1, 2012 to June 30, 2013].
FundA grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives
General Revenue FundThis fund is the principal funding source for state government operations. State taxes, fees and charges, and proceeds from investments make up the revenue to the General Revenue Fund. The fund's resources can be used for any purpose specified by Legislative appropriation. All monies collected that are not dedicated to another fund are deposited in the General Revenue Fund.
Nonappropriated FundsA term sometimes used to refer to agency revolving funds or imprest funds which would include Petty Cash Funds, Change Funds, Activities Revolving Funds and Travel Advance Funds. Legislative authority exists to create these accounts. The Chief Fiscal Officer of the State has the authority to create, increase or decrease these accounts.
One-timeBudget items that receive funding for one fiscal year (for example, funding for a feasibility study, funding for the replacement of major equipment items, funding for the purchase of furniture for a new facility, etc.).
Revolving FundA fund created to finance and account for a particular department or division. Fees received, transfers of appropriations, or other fund transfers support expenditures paid from revolving funds. Revolving funds are continuing funds and are not subject to fiscal year limitations. Agencies generally exercise greater control over the expenditure of revolving funds than they may over appropriated dollars.
Supplemental AppropriationThis refers to a subsequent appropriation made to an agency in addition to the agency's initial annual appropriation. Supplemental appropriations are to deal with current year funding issues and may be made for a variety of reasons such as to offset a revenue shortfall or to offset insufficient funds to operate a program effectively.
WarrantSimilar to a bank check, a warrant is a document created by a state agency authorizing the State Treasurer's Office to release cash to the designated payee.
Annual Operations PlanAn outline of detailed planned expenditures for the ensuing or current fiscal year, which takes into consideration funds appropriated by the Legislature and other funds available to the agency, and any expenditure limitations or directives expressed in legislation.
Revenue Stabilization ActThe Arkansas General Assembly meets in regular session every odd-numbered year and holds a fiscal session every even-numbered year. The Revenue Stabilization Act is enacted near the end of each session and defines the maximum allocation of general revenue funding allowed to each fund covered under the Revenue Stabilization Law.
BudgetAn itemized summary of estimated or intended expenditures for a given period along with proposals for financing them.
Transparency ActAct 303 of 2011 is the Arkansas Financial Transparency Act. Act 303 stated that the Department of Finance and Administration would create a website posting financial transactions beginning July 1, 2012.
Bonded IndebtednessA bond is a secure debt. Bonds are often sold to fund capital improvement projects or large capital equipment purchases.
ContractA written legal document that defines goods or services that the State intends to buy. By Arkansas state law, all capital improvement projects > $20,000 or all other purchases >$25,000 require a contract.
Employee CompensationEmployee compensation is an employee's salary or wages. This website reports the annual budgeted salary for employees and year-to-date payments for board stipends, emergency military call-up and concurrent employment.
Payments to City/CountyPayments to Cities and Counties are standard expenditures that are made to city or county government entities. Act 303 of 2011 stated that payments to cities and counties should be separated from all other expenditures.
Department of Finance and AdministrationThe Department of Finance and Administration (DFA) oversees the collection of state taxes, the purchasing of equipment for state agencies, programs for state employees, and a variety of other fiscal and administrative duties, such as regulating alcoholic beverages and registering vehicles. The Director of the Department is the Chief Fiscal Officer of the State.
State AgencyA "state agency" is an organization that is established by the Arkansas Legislature that is given some area of responsibility that is important to Arkansas' taxpayers. For example, the Arkansas Department of Human Services. Arkansas has more than 150 separate state agencies.
VendorA vendor is an individual or company that buys and sells goods or services to the State of Arkansas.
Freedom of Information ActThe Arkansas Freedom of Information Act (FOIA), signed into law by Governor Winthrop Rockefeller on February 14, 1967, is generally considered one of the strongest and best models for open government by investigative reporters and others who research public records for various purposes.
General LedgerA general ledger is the primary accounting record used to keep track of transactions. Arkansas State Government business needs are defined by a series of General Ledger Codes. Purchases, deposits, payroll payments, etc., are categorized by these general ledger codes.
HIPAAHIPAA stands for "Health Insurance Portability and Accountability Act". HIPAA is a set of privacy rules that provides protections for personal health information. At the same time, the privacy rules are balanced so that it permits the disclosure of personal health information needed for patient care and other important purposes.
CAFRA Comprehensive Annual Financial Report (CAFR) as defined by the General Accounting Standards Board.
Commitment ItemCommitment items represent the different classifications of appropriations established by the General Assembly. Examples include Regular Salaries, Personal Services Matching and Operating Expenses.
Annual SalaryThe amount of compensation provided to an employee on a yearly basis.
AASISAASIS stands for Arkansas Administrative Statewide Information System. It is the primary financial accounting software system for Arkansas State Government. AASIS is built on SAP business software and is supported by the AASIS Service Center (ASC).