From the Congressional Glossary – Including Legislative and Budget Terms Entitlement Authority photo credit: anarchosyn A provision of law that requires payments to any person, business, or unit of government that meets the eligibility requirements established by such law. Entitlements constitute a binding obligation on the part of the federal government, and eligible recipients have … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Fiscal Year photo credit: MBoy68 Fiscal Year: Any yearly accounting period, regardless of its relationship to a calendar year. The federal government’s annual accounting period. Financial operations of the government are carried out in a 12-month accounting year, beginning on October 1 and ending on … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Nonbudgetary A term used to refer to transactions of the government that do not belong within the budget. Nonbudgetary transactions (such as deposit funds, direct loan and loan guarantee financing accounts, and seigniorage) do not belong in the budget because they do not represent net … Read more