From the Congressional Glossary – Including Legislative and Budget Terms Government-Sponsored Enterprise (GSE) photo credit: futureatlas.com A privately owned and operated federally chartered financial institution that facilitates the flow of investment funds to specific economic sectors. GSEs, acting as financial intermediaries, provide these sectors access to national capital markets. The activities of GSEs are not … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Mixed-Ownership Government Corporation photo credit: Lori L. Stalteri An enterprise or business activity designated by the Government Corporation Control Act (31 U.S.C. § 9101) or some other statute as a mixed-ownership government corporation. The fiscal activities of some mixed-ownership government corporations appear in the budget. … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Wholly-Owned Government Corporation An enterprise or business activity designated by the Government Corporation Control Act of 1945 (31 U.S.C. § 9101) or some other statute as a wholly-owned government corporation. Each such corporation is required to submit an annual business-type statement to the Office of … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Federal Fund Accounts photo credit: 401K Budgetary accounts composed of moneys collected and spent by the federal government other than those designated as trust funds. Federal fund accounts include general, special, public enterprise, and intragovernmental fund accounts. (See also Standard General Ledger Chart of Accounts.) … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Working Capital Fund photo credit: General Wesc A type of intragovernmental revolving fund that operates as a self-supporting entity that conducts a regular cycle of businesslike activities. These funds function entirely from the fees charged for the services they provide consistent with their statutory authority. … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Revolving Fund photo credit: Orbisnonsuficit A fund established by Congress to finance a cycle of businesslike operations through amounts received by the fund. A revolving fund charges for the sale of products or services and uses the proceeds to finance its spending, usually on a … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Earmarking / Earmarks / Miscellaneous Tariff Bills photo credit: Beau B Earmarking: Either of the following: (1) Dedicating collections by law for a specific purpose or program. Earmarked collections include trust fund receipts, special fund receipts, intragovernmental receipts, and offsetting collections credited to appropriation accounts. … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Trust Fund / Trust Fund Accounts photo credit: Fristle Funds collected and used by the Federal Government for carrying out specific purposes and programs according to terms of a trust agreement or statute, such as the Social Security trust funds. Accounts designated as “trust funds” … Read more
From the Congressional Glossary – Including Legislative and Budget Terms President’s Budget photo credit: Navin75 The document sent to Congress by the President in January or February of each year, as required by law (31 U.S.C. § 1105), requesting new budget authority for federal programs and estimating federal revenues and outlays for the upcoming fiscal … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Budget Process Established by the Congressional Budget and Impoundment Act of 1974, the budget process refers to the steps necessary for adoption of a concurrent resolution on the budget, thereby creating the framework for consideration of appropriations bills and authorizing legislation. The Joint Select Committee … Read more