Hawaii Revised Statutes 37-69 – The six-year program and financial plan
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Terms Used In Hawaii Revised Statutes 37-69
- Agency: means any executive department, independent commission, board, agency, authority, bureau, office, or other establishment of the state government (except the legislature and the judiciary), or any quasi-public institution which is supported in whole or in part by state funds. See Hawaii Revised Statutes 37-62
- Annual required contribution: means the State's required contribution to the employees' retirement system or Hawaii employer-union health benefits trust fund, as applicable, that is sufficient to cover:
(1) The normal cost, which is the cost of other post-employment benefits attributable to the current year of service; and
(2) An amortization payment, which is a catch-up payment for past service costs to fund the unfunded actuarial accrued liability over the next thirty years. See Hawaii Revised Statutes 37-62
- Bond categories: means types of bonds and includes general obligation bonds, reimbursable general obligation bonds, and revenue bonds. See Hawaii Revised Statutes 37-62
- Bond fund: means the fund used to account for the proceeds of bond issues and expenditures therefrom. See Hawaii Revised Statutes 37-62
- Bond receipts: means the proceeds from the issuance of governmental bonds. See Hawaii Revised Statutes 37-62
- Construction costs: means the costs involved in building and landscaping capital facilities, including any consultant or staff services required and built-in equipment. See Hawaii Revised Statutes 37-62
- Cost categories: means the major types of costs and includes research and development, capital investment, and operating. See Hawaii Revised Statutes 37-62
- Cost elements: means the major subdivisions of a cost category. See Hawaii Revised Statutes 37-62
- Crosswalk: means a reconciliation of the program structure with the structure used for accounting and/or appropriations. See Hawaii Revised Statutes 37-62
- Financing agreement: means any lease purchase agreement, installment sale agreement, loan agreement, line of credit, or any other agreement to finance the improvement, use, or acquisition of real or personal property that is or will be owned or operated by the State or any agency or to refinance any such previously executed financing agreement including certificates of participation relating thereto. See Hawaii Revised Statutes 37-62
- 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.
- Full cost: means the total cost of a program, system or capability, including research and development costs, capital investment costs, and operating costs. See Hawaii Revised Statutes 37-62
- Funded ratio: means the ratio of net assets to net liabilities of the employees' retirement system or Hawaii employer-union health benefits trust fund, as applicable, as determined by actuarial valuation. See Hawaii Revised Statutes 37-62
- Funding period: means the number of years in the future that will be required to fully fund the unfunded actuarial accrued liability of the employees' retirement system or Hawaii employer-union health benefits trust fund, as applicable, based upon actuarial assumptions and no assumed future actuarial gains or losses. See Hawaii Revised Statutes 37-62
- General fund: means the fund used to account for all transactions which are not accounted for in another fund. See Hawaii Revised Statutes 37-62
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lease payments: means payments made by the State or any agency under any financing agreement. See Hawaii Revised Statutes 37-62
- Means of financing: means the various sources from which funds are available and includes the general fund, special fund, revolving fund, general obligation bonds, reimbursable general obligation bonds, revenue bonds, federal aid interstate highway fund, federal aid primary road fund, federal aid secondary road fund, federal aid urban fund, other federal funds, private contributions, county funds, trust funds, and other funds. See Hawaii Revised Statutes 37-62
- month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
- operating: include personal services, current lease payments, other current expenses, equipment, and motor vehicles. See Hawaii Revised Statutes 37-62
- Planning: means that process by which government objectives are formulated; measures by which effectiveness in attaining the objectives are identified; alternatives by which objectives may be attained are determined; the full cost, effectiveness and benefit implications of each alternative are determined; the assumptions, risks and uncertainties of the future are clarified; and cost and effectiveness and benefit tradeoffs of the alternatives are identified. See Hawaii Revised Statutes 37-62
- Position: means a specific job, whether occupied or vacant, consisting of all duties and responsibilities assigned or delegated by competent authority, requiring the full- or part-time employment of one person. See Hawaii Revised Statutes 37-62
- Position ceiling: means the maximum number of permanent and temporary full-time equivalent positions that an expending agency is authorized for a particular program. See Hawaii Revised Statutes 37-62
- Program: means a combination of resources and activities designed to achieve an objective or objectives. See Hawaii Revised Statutes 37-62
- Program size: means the magnitude of a program, such as the number of persons serviced by the program, the amount of a commodity, the time delays, the volume of service in relation to population or area, etc. See Hawaii Revised Statutes 37-62
- Program structure: means a display of programs which are grouped in accordance with the objectives to be achieved, or the functions to be performed. See Hawaii Revised Statutes 37-62
- Resource categories: means types of resources and includes tax revenues, departmental earnings, and federal receipts. See Hawaii Revised Statutes 37-62
- Tax revenues: means the amounts collected from compulsory charges, in the form of taxes, levied by the State for the purpose of financing services performed for the common public benefit. See Hawaii Revised Statutes 37-62
- Unfunded actuarial accrued liability: means the portion of the actuarial accrued liability, including the present value of benefits presently being paid to retirees, that exceeds the value of current assets. See Hawaii Revised Statutes 37-62
The financial summaries shall be prepared for the total state expenditures and resources and for the general fund and special fund portions thereof;