CFR > Title 7 > Subtitle B > Chapter II > Subchapter A > Part 227 > Subpart B – State Agency Provisions
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§ 227.30 | Responsibilities of State agencies |
§ 227.31 | Audits, management reviews, and evaluations |
Terms Used In CFR > Title 7 > Subtitle B > Chapter II > Subchapter A > Part 227 > Subpart B - State Agency Provisions
- Contract: A legal written agreement that becomes binding when signed.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- 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.
- 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.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.