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Public expenditure tracking system (PETS) is a system that presents financial information that enables stakeholders to track the source of money and where it is being dispensed. PETS also allows the service users to reconcile incoming funds with expenditures. It is sometimes referred to as "following the money".
Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. [1] It emphasizes accountability rather than profitability , and is used by nonprofit organizations and by governments.
Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Grants are federal assistance to individuals, benefits or entitlements. A grant is not used to acquire property or services for the federal government's direct ...
State budget expenditures cover the activities of the state, which are either given by law or the constitution. The budget in itself does not appropriate funds for government programs, hence the need for additional legislative measures. The word budget comes from the Old French brunette ("little bag"). [1]
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Grant writing is the practice of completing an application process for a financial grant, which are often provided by governments, corporations, foundations, and trusts. [1] The skill of grant writing is known as grantsmanship. [2] Grants are often written for charitable causes, research, and artistic projects. [3]
Total expenditure consists of total expense and the net acquisition of nonfinancial assets. Note: Apart from being on an accrual basis, total expenditure differs from the GFSM 1986 definition of total expenditure in the sense that it also takes the disposals of nonfinancial assets into account.