§ 5-500 — Definitions

§ 5-500 Definitions. For the purposes of this article the following\nterms shall be defined as follows: l. "Administrative unit" shall mean\nan office, department, division, bureau, board, commission or other\nagency or specific activity of village government.\n 2. "Budget officer" shall mean the mayor or, in a village which has\nadopted the village manager plan, the village manager. The mayor or\nvillage manager, as the case may be, may designate any other village\nofficer or employee to be budget officer, to serve at his pleasure.\n 3. "Character of expenditure" shall mean the classification of an\nexpenditure as to periods of benefit as follows: a. current expenses, b.\ndebt retirement or c. capital projects.\n 4. "Fiscal year" shall mean the period commencing on the first day of\nJune in one calendar year and ending on the thirty-first day of May in\nthe following calendar year, unless the board of trustees shall have\nestablished a different fiscal year pursuant to the provisions of former\nsection one hundred seventeen of the village law as enacted by section\nfourteen of chapter eight hundred nine of the laws of nineteen hundred\nfifty-four or pursuant to section 5-510 of this article or section\n17-1729 of article seventeen.\n 5. "Fund" shall mean a group of accounts set aside for the purpose of\naccounting for moneys or other resources of general functions or\nspecific activities of water supply, capital projects or other\nactivities of a village in accordance with a system of accounts.\n 6. "System of accounts" shall mean a system prescribed by the state\ncomptroller. In the case of water utilities it shall also mean a system\nrecommended by the public service commission or a system generally\nrecognized as a national standard and provided either such alternate\nsystem has been approved by the state comptroller following receipt of\nan application and a certified copy of a resolution adopted by the board\nof trustees of a village authorizing the maintenance of such alternate\naccounting records for a water utility.\n 7. "Object of expenditure" shall mean the classification of an\nexpenditure as to types of articles purchased or services rendered.\n 8. "Unappropriated unreserved fund balance" shall mean the difference\nbetween the total assets for a fund and the total liabilities, deferred\nrevenues, encumbered appropriations, amounts appropriated for the\nensuing fiscal year's budget, and amounts reserved for stated purposes\npursuant to law, including reserve funds established pursuant to the\ngeneral municipal law for the fund, as determined through application of\nthe system of accounts prescribed by the state comptroller pursuant to\nsection thirty-six of the general municipal law.\n