Terms Used In Arizona Laws > Title 15 > Chapter 10 > Article 8 - Governing Board Bank Accounts

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Fiscal year: means the year beginning July 1 and ending June 30. See Arizona Laws 15-101
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing board: means a body organized for the government and management of the schools within a school district or a county school superintendent in the conduct of an accommodation school. See Arizona Laws 15-101
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• School district: means a political subdivision of this state with geographic boundaries organized for the purpose of the administration, support and maintenance of the public schools or an accommodation school. See Arizona Laws 15-101
• Subject: means a division or field of organized knowledge, such as English or mathematics, or a selection from an organized body of knowledge for a course or teaching unit, such as the English novel or elementary algebra. See Arizona Laws 15-101
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}