Terms Used In Indiana Code > Title 20 > Article 42.5 - Allocation of Expenditures to Student Instruction

• applicable nonpublic school: has the meaning set forth in Indiana Code 20-42.5-2-0.5
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Contract: A legal written agreement that becomes binding when signed.
• contractor: means a person awarded a price contract. See Indiana Code 4-13-1.6-1
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• department: refers to the Indiana department of administration established by IC 4-13-1-2. See Indiana Code 4-13-1.6-2
• Fraud: Intentional deception resulting in injury to another.
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• major equipment item: refers to any item that a school corporation considers:

  Indiana Code 4-13-1.6-3

• price contract: refers to a contract entered into by the department under section 11 of this chapter. See Indiana Code 4-13-1.6-4
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• school corporation: has the meaning set forth in IC 20-18-2-16. See Indiana Code 4-13-1.6-5
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5