§ 2 — Definitions

§ 2. Definitions. As used in this chapter, such terms shall have the\nfollowing meanings:\n 1. "Account". A classification by which information on particular\nfinancial transactions and financial resources is recorded and arranged.\n 1-a. "Business day". Any day of the year which is not a Saturday,\nSunday or legal holiday in the state of New York and not a day on which\nbanks are authorized or obligated to be closed in the city of New York.\n 2. "Capital projects funds". Funds used to account for financial\nresources to be used for the construction of capital facilities or\nacquisition of major capital facilities other than those financed by\nproprietary funds, special revenue funds, and fiduciary funds.\n 2-a. "Capital project". Any project involving:\n (i) the acquisition, construction, demolition or replacement of a\nfixed asset or assets;\n (ii) the major repair or renovation of a fixed asset, or assets which\nmaterially extends its useful life or materially improves or increases\nits capacity; or\n (iii) the planning or design of the acquisition, construction,\ndemolition, replacement, major repair or renovation of a fixed asset or\nassets.\n 3. "Debt service funds". Funds which are used to account for the\naccumulation of resources for, and the payment of, general long-term\ndebt principal and interest.\n 4. "Disbursement". The payment or transfer of money from a fund other\nthan for investment purposes.\n 5. "Enterprise funds". Funds used to account for activities of state\ngovernment which are intended by law to be self-supporting or to be\nfinanced in whole or in part by user charges. "Enterprise funds" shall\nalso include funds used to account for activities of state government\nfor which the law requires that there be a periodic determination of\nrevenues earned and expenses incurred.\n 6. "Expenditure". A decrease in net financial resources as further\ndefined by generally accepted accounting principles.\n 6-a. "Fixed assets". (i) Assets of a long-term, tangible character\nwhich are intended to continue to be held or used, such as land,\nbuildings, improvements, machinery, and equipment, and (ii) assets that\nprovide a long-term interest in land, including conservation easements.\n 6-b. "Capital assets". Fixed assets and infrastructure assets,\nincluding but not limited to roads, bridges, facilities, mass\ntransportation facilities, and water, sewer and drainage systems.\nCapital assets shall also include capital asset groups, which are of a\nsimilar nature or perform a similar function and cannot be readily\nidentified as individual capital assets, such as roads or canals.\n 7. "Fiduciary funds". Funds used to account for assets held by the\nstate in a trustee capacity or as an agent for individuals, private\norganizations, and other governmental units. Fiduciary funds include\npension trust funds, private-purpose trust funds and agency funds.\n 7-a. Financial plan. A complete plan of receipts and disbursements or\nof revenues and expenditures for all governmental funds as defined in\nthis chapter.\n 8. "Fund". A fiscal and accounting entity with a self-balancing set of\naccounts recording cash and other financial resources, together with all\nrelated liabilities and residual equities or balances, and changes\ntherein, which are segregated for the purpose of carrying on specific\nactivities or attaining certain objectives in accordance with special\nregulations, restrictions, or limitations.\n 9. "Fund type". A classification by which funds are grouped and\nreported on in accordance with generally accepted accounting principles.\n 10. "Generally accepted accounting principles". The principles of\ngovernmental accounting specified by authoritative national\nstandard-setting bodies.\n 11. "Generally accepted auditing standards". The standards of\ngovernmental auditing specified by authoritative national\nstandard-setting bodies.\n 11-a. "General fixed assets". All fixed assets used in operations\naccounted for in the general fund, special revenue funds, debt service\nfunds or capital projects funds.\n 11-b. Governmental funds. A group of fund types that includes those\nfunds that are classified as the general fund, special revenue funds,\ndebt service funds, capital project funds and permanent funds as defined\nin this chapter.\n 12. "Internal service funds". Funds used to account for the financing\nof goods or services provided on a cost-reimbursement basis by one state\ndepartment or agency to another, or to other governmental units.\n 13. "Local assistance". All payments and contributions by the state to\nand in aid of local governmental units or agencies in the manner and to\nthe extent provided by law.\n 13-a. "Research institute". Any not-for-profit corporation closely\naffiliated with a specific state agency or agencies, excluding state\nagencies governed by a board of trustees, and the purpose of which is\nessentially to support, supplement or extend the research and other\nfunctions and programs of such state agency or agencies.\n 13-b. "Permanent funds". Funds that report resources that are legally\nrestricted in that only earnings, and not principal, may be used to\nsupport the government or its citizens.\n 14. "Proprietary funds". Enterprise funds and internal service funds\nas defined herein.\n 15. "Receipt". Money paid or transferred into a fund other than moneys\npreviously transferred from such fund for investment purposes.\n 16. "Revenue". An increase in net financial resources as further\ndefined by generally accepted accounting principles.\n 17. "Special revenue funds". Funds which are used to account for the\nproceeds of specific sources that are specifically restricted by law\nfrom being deposited in the general fund of the state other than\nproprietary funds, fiduciary funds and capital project funds.\n 18. "Financed equipment acquisition". Personal property acquired or to\nbe acquired by any state department and agency or unit of the state\nuniversity or city university of New York through (i) lease purchase or\ninstallment purchase agreements financed or to be financed by\ncertificates of participation sold pursuant to article five-A of this\nchapter or (ii) other lease purchase or installment purchase agreements.\n 19. "Maintenance". Planned activities undertaken to reduce or arrest\nthe rate of deterioration of capital assets, or to maintain such capital\nassets in a state of good repair, including but not limited to\npreventive maintenance, normal periodic repairs, the replacement of\nparts, and other activities intended to help achieve the optimum useful\nlife of capital assets. These activities may correct minor defects as a\nsecondary benefit, but they shall not include alterations that either:\n(i) change the use of the asset; or (ii) materially extend the useful\nlife of the asset.\n 20. "Journal transfer". Any transfer or other method of movement of\nfederal or state monies by the comptroller including, but not limited\nto, expenditure journal transfers, revenue journal transfers and\nstatutory transfers, between accounts and/or funds not specifically\nauthorized by the state legislature.\n 21. "Lump sum appropriation". An item of appropriation with a single\nrelated object or purpose, the purpose of which is to fund more than one\ngrantee by a means other than a statutorily prescribed formula, a\ncompetitive process, or an allocation pursuant to subdivision five of\nsection twenty-four of this chapter.\n 22. "Grantee". Any group, corporation, municipal or governmental\nentity that receives funding from the state.\n