Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle I > Chapter 1 > Part II > Subpart C - Operating Budget Execution

• Activity: means a distinct subset of functions or services within a program. See Louisiana Revised Statutes 39:2
• Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed on the basis of interest and mortality assumptions adopted in accordance with the provisions of La. See Louisiana Revised Statutes 11:701
• 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, dairying, livestock, poultry, bee and farm and range products, and furbearing animals raised or produced on a defined acreage. See Louisiana Revised Statutes 3:72
• 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

• 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.
• 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.
• Annuity: means payments for life derived from the "accumulated contributions" of a member. See Louisiana Revised Statutes 11:701
• 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 or corporation organized under this Part. See Louisiana Revised Statutes 3:72
• Association: means any association organized under this Part; and,

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

• 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
• average compensation: means his average earnable compensation for the five highest successive years of employment, or the highest five successive joined years where interruption of service occurred. See Louisiana Revised Statutes 11:701
• Balance in any fund: means the deficit or surplus in any fund at the close of the fiscal year. See Louisiana Revised Statutes 39:2
• 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 the eligible recipient of a pension, annuity, retirement allowance, or other benefit provided in this Chapter. See Louisiana Revised Statutes 11:701
• Board of trustees: means the board provided for in Part V of this Chapter to administer the retirement system. See Louisiana Revised Statutes 11:701
• Budget office: means the section of the division of administration which monitors budgeting functions. 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
• Capital outlays: means expenditures for acquiring lands, buildings, equipment, or other permanent properties, or for their preservation or development or permanent improvement. See Louisiana Revised Statutes 39:2
• Conduit individual retirement account: means an account which is covered by the provisions of Section 408(a) of the United States Internal Revenue Code, provided the account only contains assets rolled over to the account as an eligible rollover distribution from a qualified plan, plus earnings on those assets, but does not contain any other assets. See Louisiana Revised Statutes 11:701
• 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 Part III of this Chapter. See Louisiana Revised Statutes 11:701
• 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
• Dependent: A person dependent for support upon another.
• Earnable compensation: means the compensation earned by a member during the full normal working time as a teacher. See Louisiana Revised Statutes 11:701
• Efficiency: means cost-effectiveness or productivity relative to achievement of an objective. See Louisiana Revised Statutes 39:2
• Eligible rollover distribution: means a distribution as defined in La. See Louisiana Revised Statutes 11:701
• Employer: means the state of Louisiana, any city, parish, or other local school board, the State Board of Elementary and Secondary Education, any board created by La. See Louisiana Revised Statutes 11:701
• 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
• 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
• Extraordinary expenses: means expenses of unusual character such as in the normal course of events would not be expected to occur in each year, or the excess over the normal requirements due to unusual conditions in any budget year. See Louisiana Revised Statutes 39:2
• Fiscal year: means the period beginning July first of any year and ending June thirtieth of the next succeeding year. See Louisiana Revised Statutes 11:701
• 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
• Goal: means a general purpose toward which the efforts of an agency are directed. See Louisiana Revised Statutes 39:2
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Key performance indicator: means a performance indicator that is designated as such by the commissioner of administration and is included in the executive budget or the executive budget supporting document. See Louisiana Revised Statutes 39:2
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• Member: includes actual members of associations with or without capital stock. See Louisiana Revised Statutes 3:72
• 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

• 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
• Membership service: means service as a teacher rendered while a member of the retirement system. See Louisiana Revised Statutes 11:701
• Oath: A promise to tell the truth.
• 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
• 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
• Ordinary recurring expenses: means all expenses of a continuing or recurring character, that in the normal course of administration, may be expected to be necessary in approximately the same amounts each year. See Louisiana Revised Statutes 39:2
• Other programs and activities: means all programs and activities that do not fit the definition of evidence-based, research-based, or promising practices programs. See Louisiana Revised Statutes 39:2
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• Oversight: Committee review of the activities of a Federal agency or program.
• Pensions: means payments for life. See Louisiana Revised Statutes 11:701
• 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
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• 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
• Personal property: All property that is not real property.
• Place of business: means a permanent location or a portion of a permanent location from which business, in a regulated profession or occupation, is transacted. See Louisiana Revised Statutes 3:1
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Prior service: means service rendered prior to the date of establishment of the retirement system for which credit is allowable under Part III of this Chapter. See Louisiana Revised Statutes 11:701
• 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
• Program catalogue: means a compendium of programs compiled by a reputable source that publishes information for use by the government. See Louisiana Revised Statutes 39:2
• Program inventory: means the complete list of all proposed agency programs and activities that meet any definition set out in this Section. See Louisiana Revised Statutes 39:2
• 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
• Promising practices: means a practice that presents, based upon preliminary information, potential for becoming a research-based or evidence-based program or practice. See Louisiana Revised Statutes 39:2
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
• Qualified plan: means a trust which is covered by the provisions of Section 401(a) of the United States Internal Revenue Code. See Louisiana Revised Statutes 11:701
• Quality: means degree or grade of excellence. See Louisiana Revised Statutes 39:2
• Quorum: The number of legislators that must be present to do business.
• Regular interest: means interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with La. See Louisiana Revised Statutes 11:701
• 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 withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
• Retirement allowance: means the sum of the annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:701
• Retirement system: means the Teachers' Retirement System of Louisiana as defined in La. See Louisiana Revised Statutes 11:701
• Service: means service as a teacher within the meaning of Paragraph (33) of this Section. See Louisiana Revised Statutes 11:701
• Student: means a person who satisfies all of the provisions of this Paragraph. See Louisiana Revised Statutes 11:701
• 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
• Surplus: means the excess for any fiscal year of the actual monies received and any monies or balances carried forward over the actual expenditures paid by warrant or transfer 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