Michigan Laws 18.1404 – Definitions; R to W
Current as of: 2023 | Check for updates
|
Other versions
(1) “Revenues” means the increases in the net current assets of a fund other than from expenditure refunds and residual equity transfers.
(2) “Revolving fund” means a self-supporting fund which provides services or sells goods to state agencies, other governmental jurisdictions, or the public.
Terms Used In Michigan Laws 18.1404
- 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
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(3) “Unencumbered balance” means that portion of an appropriation not yet expended and encumbered.
(4) “Unexpended balance” means that portion of an appropriation not yet expended.
(5) “Unit of local government” means unit of local government as defined by section 115(5).
(6) “Work project” means a 1-time nonrecurring undertaking for the purpose of accomplishing an objective contained in specific line-item appropriation for that purpose or any other specific line-item appropriation designated as a work project by law under criteria established under section 451a(1).