Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle I > Chapter 1 > Part II-A > Subpart B - Budget Stabilization Fund

• 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
• Agricultural products: include horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and other farm products;

  (2)  "Member" includes actual members of associations without capital stock and holders of common stock in associations organized with capital stock;

  (3)  "Association" means any association organized under this Part; and,

  (4)  "Person" includes individuals, firms, partnerships, corporations, and associations. See Louisiana Revised Statutes 3:122

• Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
• 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
• Association: means any association organized under this Part; and,

  (4)  "Person" includes individuals, firms, partnerships, corporations, and associations. See Louisiana Revised Statutes 3:122

• 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.
• 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.
• Deficit: means the excess for any fiscal year of actual expenditures paid by warrant or transfer over the actual monies received and any monies or balances carried forward for any fund at the close of the fiscal year as such are reported by the office of statewide reporting within the division of administration. See Louisiana Revised Statutes 39:2
• 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.
• Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
• Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
• Oath: A promise to tell the truth.
• 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
• Person: means an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
• Projected deficit: means the excess of appropriations and non-appropriated requirements over the official forecast for any fund during any fiscal year. See Louisiana Revised Statutes 39:2
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
• Trustee: A person or institution holding and administering property in trust.