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MSB AC 330 XM2

MSB GovNFP Unit 003

QuestionAnswer
Direct expenses Expenses that are specifically associated with a functon or program
Indirect expenses Expenses that are not directly linked to an identifiable function or program
Appropriations Appropriation is a legal authorization to expend cash or other financial resources for goods, services and facilies for a specified purposes.
Activity Activity is a specific and distinguishable line of work performed by an organization unit.
Expenditure is a word that represents the cost to purchase a good or service
Property assessment Valuation of each parcel of taxable real property and of the taxable personal property owned by each taxpayer
Penalty is a legally mandated addition to a tax on the day it becames delinquent.
Allotment may be described as an internal allocation of funds on a periodic basis
Character is based on the fiscal period that benefits from a particular expenditure
Extraordinary Items transactions or other events that are both unusual in nature and infrequent in occurrence.
Created by: thomas.casey