NY State Fin L § 2 (2021)
2021 New York Laws STF - State Finance Article 2 - General Fiscal Provisions 2 - Definitions.

§  2.  Definitions. As used in this chapter, such terms shall have the following meanings:   1. "Account". A classification  by  which  information  on  particular financial transactions and financial resources is recorded and arranged.   1-a.  "Business  day".  Any  day  of the year which is not a Saturday, Sunday or legal holiday in the state of New York and not a day on  which banks are authorized or obligated to be closed in the city of New York.   2.  "Capital  projects  funds".  Funds  used  to account for financial resources to be used for  the  construction  of  capital  facilities  or acquisition  of  major  capital  facilities other than those financed by proprietary funds, special revenue funds, and fiduciary funds.   2-a. "Capital project". Any project involving:  (i) the acquisition, construction,  demolition  or  replacement  of  a fixed asset or assets;  (ii)  the major repair or renovation of a fixed asset, or assets which materially extends its useful life or materially improves  or  increases its capacity; or  (iii)  the  planning  or  design  of  the  acquisition,  construction, demolition, replacement, major repair or renovation of a fixed asset  or assets.   3.  "Debt  service  funds".  Funds  which  are used to account for the accumulation of resources for, and the  payment  of,  general  long-term debt principal and interest.   4.  "Disbursement". The payment or transfer of money from a fund other than for investment purposes.   5. "Enterprise funds". Funds used to account for activities  of  state government  which  are  intended  by  law to be self-supporting or to be financed in whole or in part by user charges. "Enterprise  funds"  shall also  include  funds  used to account for activities of state government for which the law requires that there be  a  periodic  determination  of revenues earned and expenses incurred.   6.  "Expenditure".  A  decrease  in net financial resources as further defined by generally accepted accounting principles.   6-a. "Fixed assets". Assets of a long-term, tangible  character  which are  intended  to  continue to be held or used, such as land, buildings, improvements, machinery and equipment.   6-b.  "Capital  assets".  Fixed  assets  and  infrastructure   assets, including   but   not   limited  to  roads,  bridges,  facilities,  mass transportation  facilities,  and  water,  sewer  and  drainage  systems. Capital  assets  shall also include capital asset groups, which are of a similar nature or perform a  similar  function  and  cannot  be  readily identified as individual capital assets, such as roads or canals.   7.  "Fiduciary  funds".  Funds  used to account for assets held by the state in a trustee capacity or as  an  agent  for  individuals,  private organizations,  and  other  governmental  units. Fiduciary funds include pension trust funds, private-purpose trust funds and agency funds.   7-a. Financial plan. A complete plan of receipts and disbursements  or of  revenues  and  expenditures for all governmental funds as defined in this chapter.   8. "Fund". A fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and  residual  equities  or  balances,  and  changes therein,  which  are  segregated for the purpose of carrying on specific activities or attaining certain objectives in  accordance  with  special regulations, restrictions, or limitations.   9.  "Fund  type".  A  classification  by  which  funds are grouped and reported on in accordance with generally accepted accounting principles.    10. "Generally accepted  accounting  principles".  The  principles  of governmental    accounting    specified    by   authoritative   national standard-setting bodies.   11.   "Generally   accepted  auditing  standards".  The  standards  of governmental    auditing    specified    by    authoritative    national standard-setting bodies.   11-a.  "General  fixed  assets".  All  fixed assets used in operations accounted for in the general fund, special revenue funds,  debt  service funds or capital projects funds.   11-b.  Governmental  funds.  A group of fund types that includes those funds that are classified as the general fund,  special  revenue  funds, debt service funds, capital project funds and permanent funds as defined in this chapter.   12.  "Internal service funds". Funds used to account for the financing of goods or services provided on a cost-reimbursement basis by one state department or agency to another, or to other governmental units.   13. "Local assistance". All payments and contributions by the state to and in aid of local governmental units or agencies in the manner and  to the extent provided by law.   13-a.  "Research  institute".  Any  not-for-profit corporation closely affiliated with a specific state agency  or  agencies,  excluding  state agencies  governed  by  a board of trustees, and the purpose of which is essentially to support, supplement or  extend  the  research  and  other functions and programs of such state agency or agencies.   13-b.  "Permanent funds". Funds that report resources that are legally restricted in that only earnings, and not  principal,  may  be  used  to support the government or its citizens.   14.  "Proprietary  funds". Enterprise funds and internal service funds as defined herein.   15. "Receipt". Money paid or transferred into a fund other than moneys previously transferred from such fund for investment purposes.   16. "Revenue". An increase  in  net  financial  resources  as  further defined by generally accepted accounting principles.   17.  "Special  revenue funds". Funds which are used to account for the proceeds of specific sources that are  specifically  restricted  by  law from  being  deposited  in  the  general  fund  of  the state other than proprietary funds, fiduciary funds and capital project funds.   18. "Financed equipment acquisition". Personal property acquired or to be acquired by any state department and agency  or  unit  of  the  state university  or city university of New York through (i) lease purchase or installment  purchase  agreements  financed  or  to   be   financed   by certificates  of  participation  sold pursuant to article five-A of this chapter or (ii) other lease purchase or installment purchase agreements.   19. "Maintenance". Planned activities undertaken to reduce  or  arrest the rate of deterioration of capital assets, or to maintain such capital assets  in  a  state  of  good  repair,  including  but  not  limited to preventive maintenance, normal  periodic  repairs,  the  replacement  of parts,  and other activities intended to help achieve the optimum useful life of capital assets. These activities may correct minor defects as  a secondary  benefit,  but they shall not include alterations that either: (i) change the use of the asset; or (ii) materially  extend  the  useful life of the asset.   20.  "Journal  transfer".  Any transfer or other method of movement of federal or state monies by the comptroller including,  but  not  limited to,   expenditure  journal  transfers,  revenue  journal  transfers  and statutory transfers, between  accounts  and/or  funds  not  specifically authorized by the state legislature.    21.  "Lump  sum appropriation". An item of appropriation with a single related object or purpose, the purpose of which is to fund more than one grantee by a means  other  than  a  statutorily  prescribed  formula,  a competitive  process,  or  an allocation pursuant to subdivision five of section twenty-four of this chapter.   22.  "Grantee".  Any  group,  corporation,  municipal  or governmental entity that receives funding from the state.