Hawaii Revised Statutes 37-71 – The budget
Terms Used In Hawaii Revised Statutes 37-71
- 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
- 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
- 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
- capital investment: includes plan, land acquisition, design, construction, and equipment and furnishing. 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
- Debt service: means interest and principal repayments on moneys borrowed. 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.
- 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
- General obligation bonds: means bonds, notes, or other instruments of indebtedness for the payment of the principal and interest of which the full faith and credit of the State are pledged. See Hawaii Revised Statutes 37-62
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- operating: include personal services, current lease payments, other current expenses, equipment, and motor vehicles. See Hawaii Revised Statutes 37-62
- Operating costs: means recurring costs of operating, supporting and maintaining authorized programs, including costs for personnel salaries and wages, employee fringe benefits, lease payments, supplies, materials, equipment, and motor vehicles. 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 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
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Resource categories: means types of resources and includes tax revenues, departmental earnings, and federal receipts. See Hawaii Revised Statutes 37-62
- Revenue bonds: means all bonds payable from the revenues, or user taxes, or any combination of both, of a public undertaking, improvement, system, or loan program and any loan made thereunder and secured as may be provided by law. 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
As appropriate, references to the program and financial plan shall be noted for an explanation of the changes. Notwithstanding the provisions of subsection (b)(5), the proposed changes in the levels of expenditures may be shown to the nearest thousand dollars;
In every instance, the means of financing shall be noted.
Such financial summaries shall be prepared for the total state expenditures and resources and for the general fund and special fund portions thereof;
In each case, the projection shall be categorized into debt service to be paid directly from the general fund, debt service to be paid through reimbursements, and total debt service. The projection shall extend at least five years beyond the close of the ensuing fiscal biennium. An explanation shall be appended to the schedule, which shall include among other things, the amount of bonds to be issued during the fiscal year in progress and in each of the two fiscal years of the ensuing biennium, the maturities of the bonds to be issued, the method of retirement, and the interest rate assumed in the projection;
As used in this subsection, “education programs” include instructional, personnel, transportation, facilities, facilities repair and maintenance, and other programs deemed appropriate by the department of education.