Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 1 > Part VI - Financing-Accounting

• Accumulated contributions: means the sum of all amounts paid by a member, excluding interest paid on the repayment of a refund, and credited to his individual account in the employee's savings account, together with regular interest credited prior to July 1969. See Louisiana Revised Statutes 11:403
• Act of donation: means the "Act of Donation by BP America Production Company to the State of Louisiana" dated July 8, 2002, and recorded July 11, 2002, in the conveyance records of Vermilion Parish, bearing entry number 20208337 in which the property in and around White Lake, located in Vermilion Parish, was donated to the state. See Louisiana Revised Statutes 56:799.2
• Activity: means a distinct subset of functions or services within a program. See Louisiana Revised Statutes 39:2
• Agency: means any state office, department, board, commission, institution, division, officer or other person, or functional group, heretofore existing or hereafter created, that is authorized to exercise, or that does exercise, any functions of the government of the state in the executive branch, but not any governing body or officer of any local government or subdivision of the state, or any parochial officer who exercises functions coterminous with the municipality in which he performs those functions. See Louisiana Revised Statutes 39:2
• Agency: means any governmental body employing persons and includes departments, agencies, boards, commissions, and courts. See Louisiana Revised Statutes 11:403
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized other charges positions: means the number of positions in an appropriation bill to be funded by the other charges continuing category of the accounting system for the state. See Louisiana Revised Statutes 39:2
• Authorized positions: means the number of positions approved by the legislature in an appropriation bill to be funded by the salaries continuing category of the accounting system for the state. See Louisiana Revised Statutes 39:2
• Base pay: means prescribed compensation for a specific position on a full-time basis, but does not include overtime, per diem, differential pay, payment in kind, premium pay, or any other allowance for expense authorized and incurred as an incident to employment, except supplemental pay for certain members as provided by Article X, Section 10(A)(1) of thethe Louisiana Constitution of 1974. See Louisiana Revised Statutes 11:403
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: means any person designated by the member or legally entitled to receive a retirement allowance, an annuity, or other benefit. See Louisiana Revised Statutes 11:403
• Board: means the Board of Trustees of the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
• Budget office: means the section of the division of administration which monitors budgeting functions. See Louisiana Revised Statutes 39:2
• Budget request: means the document with its accompanying explanations, in which a budget unit states its financial requirements and requests appropriations. See Louisiana Revised Statutes 39:2
• Budget unit: means any spending agency of the state which is declared to be a budget unit by the division of administration and which is identified for accounting purposes by a five-digit number code. See Louisiana Revised Statutes 39:2
• Commission: means the Louisiana Wildlife and Fisheries Commission. See Louisiana Revised Statutes 56:799.2
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Continuation budget: means that funding level for each budget unit which reflects the financial resources necessary to carry on all existing programs and functions of the budget unit at their current level of service in the ensuing fiscal year including any adjustments necessary to account for the increased cost of services or materials due to inflation and estimated increases in workload requirements resulting from demographic or other changes. See Louisiana Revised Statutes 39:2
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Creditable service: means prior service plus membership service for which credit is allowable as provided in this Chapter. See Louisiana Revised Statutes 11:403
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Wildlife and Fisheries. See Louisiana Revised Statutes 56:799.2
• Dependent: A person dependent for support upon another.
• Earned compensation: means the base pay earned by an employee for a given pay period as reported to the system on a monthly basis by the agency which shall include the cash value of any emolument of office in the form of paid compensation in lieu of salary which is subject to federal and state payroll taxes and includes the full amount earned by an employee, overtime, and per diem earned by an employee of the House of Representatives, the Senate, or an agency of the legislature, and expense allowances and per diem paid to members of the legislature, the clerk, or sergeant at arms of the House of Representatives and president and secretary or sergeant at arms of the Senate. See Louisiana Revised Statutes 11:403
• Efficiency: means cost-effectiveness or productivity relative to achievement of an objective. See Louisiana Revised Statutes 39:2
• Employee: means any person legally occupying a position in the state service. See Louisiana Revised Statutes 11:403
• Employer: means the state of Louisiana or any of its boards, commissions, departments, agencies, and courts which are contributing members of the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive budget: means the document submitted to the legislature at each regular session, pursuant to the provisions of this Chapter and La. See Louisiana Revised Statutes 39:2
• Existing operating budget: means the initial operating budget as adjusted for actions taken by the Joint Legislative Committee on the Budget, the Interim Emergency Board, the legislature, or the governor in accordance with the provisions of this Chapter or any other provision of law. See Louisiana Revised Statutes 39:2
• Expenses: means amounts represented by cash paid out or by obligations to pay cash or partly by each for maintaining and operating government services. See Louisiana Revised Statutes 39:2
• 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: means the period beginning July first of any year and ending June thirtieth of the next succeeding year. See Louisiana Revised Statutes 11:403
• Fraud: Intentional deception resulting in injury to another.
• Functions: means duties, jurisdiction, powers, rights, and obligations, conferred or imposed upon, or vested in, any agency by law, or exercised, performed, or discharged by any agency without contravention of any provision of law. See Louisiana Revised Statutes 39:2
• Fund: means the White Lake Property Fund. See Louisiana Revised Statutes 56:799.2
• Goal: means a general purpose toward which the efforts of an agency are directed. See Louisiana Revised Statutes 39:2
• Initial operating budget: means the amount of the appropriation on July first of a particular fiscal year for that fiscal year. See Louisiana Revised Statutes 39:2
• Input: means any resource used to implement a policy, program, or specific service. See Louisiana Revised Statutes 39:2
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Liability: means a debt arising out of a transaction where goods or services have been received or rendered which must be liquidated, renewed, or refunded at some future date. See Louisiana Revised Statutes 39:2
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member: means any person included in the membership of the system. See Louisiana Revised Statutes 11:403
• Membership service: means service after July 1, 1947 as an employee while a member of the system. See Louisiana Revised Statutes 11:403
• Minor child: means an unmarried child under the age of eighteen years or an unmarried student under the age of twenty-three years who is the issue of a marriage of a member of this system, the legally adopted child of a member of this system, a child born outside of marriage of a female member of this system, or the child of a male member of this system if acknowledged or filiated pursuant to the provisions of the Civil Code. See Louisiana Revised Statutes 11:403
• Nondiscretionary adjusted standstill budget: shall mean and shall contain the following:

              (a) The budget unit's current-year existing operating budget as of December first. See Louisiana Revised Statutes 39:2

• nondiscretionary expenditures: includes , but is not limited to, expenditures which must be funded because of the following constitutional and other mandates:

              (i) Expenditures required by the Constitution of Louisiana:

              (aa) The salaries of statewide elected officials. See Louisiana Revised Statutes 39:36

• Nonrecurring revenue: means revenue received by the state from a source identified by the Revenue Estimating Conference as being of a nonrecurring nature. See Louisiana Revised Statutes 39:2
• Objective: is a specific and measurable target for achievement which describes the exact results sought, which is expressed in an outcome-oriented statement that may reflect effectiveness, efficiency, or quality of work, and which may be either numeric or non-numeric. See Louisiana Revised Statutes 39:2
• 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.
• Official forecast: means the most recently adopted estimate of money available for appropriation by the Revenue Estimating Conference as provided in La. See Louisiana Revised Statutes 39:2
• Official information: means data, forecasts, estimates, analyses, studies, and other information which the principals of a consensus estimating conference may adopt pursuant to a vote of the majority of the principals of that conference. See Louisiana Revised Statutes 39:2
• Operational plan: means the annual work plan of an agency and its component programs, which indicates the implementation of the agency's strategic plan for a specific fiscal year, and which describes agency and program missions, goals, objectives, activities, and performance indicators. See Louisiana Revised Statutes 39:2
• Outcome: means evidence or demonstration of the actual impact or public benefit of a program. See Louisiana Revised Statutes 39:2
• Output: means the quantity of actual service or product delivered by an agency or program. See Louisiana Revised Statutes 39:2
• Oversight: Committee review of the activities of a Federal agency or program.
• Performance indicator: means a statement identifying an activity, input, output, outcome, achievement, ratio, efficiency, or quality to be measured relative to a particular goal or objective in order to assess an agency's performance. See Louisiana Revised Statutes 39:2
• Performance standard: means the expected level of performance associated with a particular performance indicator for a particular period. See Louisiana Revised Statutes 39:2
• Performance-based budget: means a budget which relates funding to expected results. See Louisiana Revised Statutes 39:2
• Personal property: All property that is not real property.
• Political subdivision: as used in this Part means any parish of this state as well as any city or county of another adjoining or adjacent state which is authorized by the law of that state to engage in a joint endeavor for the creation and operation of an airport district with a political subdivision of this state. See Louisiana Revised Statutes 2:131
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Program: means a grouping of activities directed toward the accomplishment of a clearly defined objective or set of objectives. See Louisiana Revised Statutes 39:2
• Quality: means degree or grade of excellence. See Louisiana Revised Statutes 39:2
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Refund: means the withdrawal of all accumulated contributions at least thirty days after termination from the state service, or with respect to members having the option of belonging to the system, withdrawal of all accumulated contributions at least thirty days after receipt by the system of written notice of withdrawal. See Louisiana Revised Statutes 11:403
• 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.
• Retirement: means termination of active service, with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:403
• 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.
• Spouse: means a person who is legally married to a member of this system. See Louisiana Revised Statutes 11:403
• State: means the state of Louisiana. See Louisiana Revised Statutes 11:403
• Statute: A law passed by a legislature.
• Strategic planning: is a process of agency self-assessment and objective setting which considers an organization's purpose, capacities and environment, and results in a strategic plan which determines a path for development of the organization's resources in order to achieve meaningful results. See Louisiana Revised Statutes 39:2
• Strategy: means the method used to accomplish the objectives of an agency. See Louisiana Revised Statutes 39:2
• Supplemental appropriation: Budget authority provided in an appropriations act in addition to regular or continuing appropriations already provided. Supplemental appropriations generally are made to cover emergencies, such as disaster relief, or other needs deemed too urgent to be postponed until the enactment of next year's regular appropriations act.
• Supporting document: means the document prepared by the budget office and composed of supporting information, data, and documentation used to develop the executive budget. See Louisiana Revised Statutes 39:2
• System: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Trustee: A person or institution holding and administering property in trust.
• White Lake Property: means the properties owned by the state in and around White Lake, located in Vermilion Parish which were donated to the state in "Act of Donation by BP America Production Company to the State of Louisiana" dated July 8, 2002, and recorded July 11, 2002, in the conveyance records of Vermilion Parish, bearing entry number 20208337. See Louisiana Revised Statutes 56:799.2