From the Congressional Glossary – Including Legislative and Budget Terms Budget Act photo credit: phauly The common name for the Congressional Budget and Impoundment Act of 1974, which established the current budget process and created the Congressional Budget Office. The act also put limits on presidential authority to refuse to spend appropriated money. Titles I-IX … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Calendar of Business An agenda or list of business eligible for floor consideration. Each chamber decides which measures are discussed, and in what order, in accordance with its rules and practices. The Senate has two calendars, the Executive Calendar for treaties and nominations, and the … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Monthly Treasury Statement (MTS) photo credit: Daquella manera A summary statement prepared from agency accounting reports and issued by the Department of the Treasury (Treasury). The MTS presents the receipts, outlays, resulting budget surplus or deficit, and federal debt for the month and the fiscal … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Combined Statement of Receipts, Outlays, and Balances of the United States Government photo credit: Martin Cathrae The Department of the Treasury’s annual accounting of the (1) unified budget receipts activities of the federal government, which should be consistent with the aggregated custodial nonexchange revenues (before … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Intragovernmental Transfers photo credit: Tom – Switzerland Collections from other federal government accounts, often as payment for goods or services provided. Most offsetting receipts from intragovernmental transfers are offset against budget authority and outlays of the agency or subfunction that produced the goods or services. … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Proprietary Receipts from the Public photo credit: mattcameasarat Collections from outside the government that are deposited in receipt accounts that arise as a result of the government’s business-type or market-oriented activities. Among these are interest received, proceeds from the sale of property and products, charges … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Offsetting Receipts Collections that are offset against gross outlays but are not authorized to be credited to expenditure accounts. Offsetting receipts are deposited in receipt accounts. Like offsetting collections, they result from (1) businesslike transactions or market-oriented activities with the public, (2) intragovernmental transfers, and … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Adjournment sine die photo credit: KalasMannen Final adjournment of an annual or two-year session of Congress. Adjournment without fixing a definite day for reconvening; literally “adjournment without a day.” A session can continue when, under the 20th Amendment to the Constitution, it automatically terminates. Both … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Refunds Improper Payments in State-Administered Programs: Medicaid Payments returned to the government that were made in error. They are credited to the appropriation originally charged. Either (1) the return of money that the government improperly collected or collected in excess of the amount … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Offsetting Collections photo credit: Seth Tisue Collections authorized by law to be credited to appropriation or fund expenditure accounts. They result from (1) businesslike transactions or market-oriented activities with the public, (2) intragovernmental transfers, and (3) collections from the public that are governmental in nature … Read more