N.Y. State Finance Law § 2: Definitions

§ 2. Definitions. As used in this chapter, such terms shall have the

following meanings:

1. "Account". A classification by which information on particular

financial transactions and financial resources is recorded and arranged.

1-a. "Business day". Any day of the year which is not a Saturday,

Sunday or legal holiday in the state of New York and not a day on which

banks are authorized or obligated to be closed in the city of New York.

2. "Capital projects funds". Funds used to account for financial

resources to be used for the construction of capital facilities or

acquisition of major capital facilities other than those financed by

proprietary funds, special revenue funds, and fiduciary funds.

2-a. "Capital project". Any project involving:

(i) the acquisition, construction, demolition or replacement of a

fixed asset or assets;

(ii) the major repair or renovation of a fixed asset, or assets which

materially extends its useful life or materially improves or increases

its capacity; or

(iii) the planning or design of the acquisition, construction,

demolition, replacement, major repair or renovation of a fixed asset or

assets.

3. "Debt service funds". Funds which are used to account for the

accumulation of resources for, and the payment of, general long-term

debt principal and interest.

4. "Disbursement". The payment or transfer of money from a fund other

than for investment purposes.

5. "Enterprise funds". Funds used to account for activities of state

government which are intended by law to be self-supporting or to be

financed in whole or in part by user charges. "Enterprise funds" shall

also include funds used to account for activities of state government

for which the law requires that there be a periodic determination of

revenues earned and expenses incurred.

6. "Expenditure". A decrease in net financial resources as further

defined by generally accepted accounting principles.

6-a. "Fixed assets". (i) Assets of a long-term, tangible character

which are intended to continue to be held or used, such as land,

buildings, improvements, machinery, and equipment, and (ii) assets that

provide a long-term interest in land, including conservation easements.

6-b. "Capital assets". Fixed assets and infrastructure assets,

including but not limited to roads, bridges, facilities, mass

transportation facilities, and water, sewer and drainage systems.

Capital assets shall also include capital asset groups, which are of a

similar nature or perform a similar function and cannot be readily

identified as individual capital assets, such as roads or canals.

7. "Fiduciary funds". Funds used to account for assets held by the

state in a trustee capacity or as an agent for individuals, private

organizations, and other governmental units. Fiduciary funds include

pension trust funds, private-purpose trust funds and agency funds.

7-a. Financial plan. A complete plan of receipts and disbursements or

of revenues and expenditures for all governmental funds as defined in

this chapter.

8. "Fund". A fiscal and accounting entity with a self-balancing set of

accounts recording cash and other financial resources, together with all

related liabilities and residual equities or balances, and changes

therein, which are segregated for the purpose of carrying on specific

activities or attaining certain objectives in accordance with special

regulations, restrictions, or limitations.

9. "Fund type". A classification by which funds are grouped and

reported on in accordance with generally accepted accounting principles.

10. "Generally accepted accounting principles". The principles of

governmental accounting specified by authoritative national

standard-setting bodies.

11. "Generally accepted auditing standards". The standards of

governmental auditing specified by authoritative national

standard-setting bodies.

11-a. "General fixed assets". All fixed assets used in operations

accounted for in the general fund, special revenue funds, debt service

funds or capital projects funds.

11-b. Governmental funds. A group of fund types that includes those

funds that are classified as the general fund, special revenue funds,

debt service funds, capital project funds and permanent funds as defined

in this chapter.

12. "Internal service funds". Funds used to account for the financing

of goods or services provided on a cost-reimbursement basis by one state

department or agency to another, or to other governmental units.

13. "Local assistance". All payments and contributions by the state to

and in aid of local governmental units or agencies in the manner and to

the extent provided by law.

13-a. "Research institute". Any not-for-profit corporation closely

affiliated with a specific state agency or agencies, excluding state

agencies governed by a board of trustees, and the purpose of which is

essentially to support, supplement or extend the research and other

functions and programs of such state agency or agencies.

13-b. "Permanent funds". Funds that report resources that are legally

restricted in that only earnings, and not principal, may be used to

support the government or its citizens.

14. "Proprietary funds". Enterprise funds and internal service funds

as defined herein.

15. "Receipt". Money paid or transferred into a fund other than moneys

previously transferred from such fund for investment purposes.

16. "Revenue". An increase in net financial resources as further

defined by generally accepted accounting principles.

17. "Special revenue funds". Funds which are used to account for the

proceeds of specific sources that are specifically restricted by law

from being deposited in the general fund of the state other than

proprietary funds, fiduciary funds and capital project funds.

18. "Financed equipment acquisition". Personal property acquired or to

be acquired by any state department and agency or unit of the state

university or city university of New York through (i) lease purchase or

installment purchase agreements financed or to be financed by

certificates of participation sold pursuant to article five-A of this

chapter or (ii) other lease purchase or installment purchase agreements.

19. "Maintenance". Planned activities undertaken to reduce or arrest

the rate of deterioration of capital assets, or to maintain such capital

assets in a state of good repair, including but not limited to

preventive maintenance, normal periodic repairs, the replacement of

parts, and other activities intended to help achieve the optimum useful

life of capital assets. These activities may correct minor defects as a

secondary benefit, but they shall not include alterations that either:

(i) change the use of the asset; or (ii) materially extend the useful

life of the asset.

20. "Journal transfer". Any transfer or other method of movement of

federal or state monies by the comptroller including, but not limited

to, expenditure journal transfers, revenue journal transfers and

statutory transfers, between accounts and/or funds not specifically

authorized by the state legislature.

21. "Lump sum appropriation". An item of appropriation with a single

related object or purpose, the purpose of which is to fund more than one

grantee by a means other than a statutorily prescribed formula, a

competitive process, or an allocation pursuant to subdivision five of

section twenty-four of this chapter.

22. "Grantee". Any group, corporation, municipal or governmental

entity that receives funding from the state.