Terms Used In West Virginia Code > Chapter 5 > Article 16C
- assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Audit: means a systematic examination and collection of sufficient, competent evidential matter needed for an auditor to attest to the fairness of management's assertions in the financial statements and to evaluate whether management has sufficiently and effectively carried out its responsibilities and complied with applicable laws and regulations, conducted by an independent certified public accountant in accordance with the applicable statement on standards: Provided, That the report shall include an incurred-but-not-reported calculation, where available. See West Virginia Code 5-16C-2
- contract: A legal written agreement that becomes binding when signed.
- Director: means the director of the public employees insurance agency created under article sixteen of this chapter. See West Virginia Code 5-16C-2
- Finance board: means the public employees insurance agency finance board created in section four, article sixteen of this chapter. See West Virginia Code 5-16C-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.
- 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.
- Prescription drug purchasing agreement: means a written agreement to pool all parties' prescription drug buying power in order to negotiate the best possible prices and which delegates authority to negotiate on behalf of the parties to the director. See West Virginia Code 5-16C-2
- state: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10