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State Finance (STF) CHAPTER 56, ARTICLE 2
§ 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

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.