Budget Basics 101
This is a budgetary tool used in governmental accounting to control spending, track revenue collections, or set aside monies for specific purposes.
What is an appropriation?
For budgetary purposes, the financial activities of the State are segregated into these two individual funds.
What are the General Fund (GF) and the Special Fund (SF)?
Each year, the State prepares this comprehensive report as its official record of financial activities based on national GAAP standards.
What is the Annual Comprehensive Financial Report?
The State maintains and reports financial data on two different bases: the Budgetary/Cash Basis and this other primary basis.
What is the GAAP Basis?
General Funds (except the Transportation Trust Fund) fall under this specific numerical series in Exhibit A.
What is the 100 series?
The annual Appropriation Bill is enacted into law to serve as this for the State.
What is the annual operating budget?
This Special Fund category has no legislative spending limits and is not considered appropriated monies (e.g., donations, gifts, and local school funds).
What are Non-appropriated Special Funds (NSF)?
Government accounting standards and GAAP guidelines for state and local governments are established and communicated by this board.
What is the Governmental Accounting Standards Board? (GASB)
Under the budgetary/cash basis of accounting, revenues are recognized when cash is received and expenditures are recognized when this action occurs.
What is when cash is disbursed?
Capital Projects Funds (excluding the Transportation Trust Fund and DelDOT Federal Capital) are designated by this numerical series.
What is the 300 series?
This is the smallest agency unit for which a formal appropriation is authorized by the Legislature.
What is a Budget Unit?
This Act, passed annually by the Legislature, provides authorization and appropriations for the State’s capital projects.
What is the Bond and Capital Improvement Act?
This term refers to what financial transactions and events will be recognized and reported, focusing on the inflow and outflow of resources.
What is measurement focus?
Under the GAAP basis, this specific accounting method records revenues when they are earned and measurable, and expenses when incurred.
What is the accrual basis of accounting?
Debt Service Funds for the State's portion of general obligation and capital improvement bonded indebtedness are tracked under this series.
What is the 400 series?
Any further or special appropriation authorized after final action is taken on the Appropriation Bill is known by this term.
What is a supplementary appropriation?
Unlike general federal grant recipients, recipients of these specific types of federal grants must wait for the actual receipt of funds prior to encumbering or expending them.
What are sub-grants or pass-through grants?
This fundamental measurement focus considers all available assets (current and long-term) and records depreciation as a charge to operations.
What is the flow of economic resources?
Under the modified accrual basis, measurable and collectible self-assessed taxes, such as income, excise, and franchise taxes, that do not meet the availability criteria are reported as this.
What are deferred revenues?
Internal Service Funds are categorized under this numerical series.
What is the 700 series?
In the State's financial management system, this unique Appropriation Type Code is designated for Federal Grants.
What is Code 40?
According to 29 Del. C. § 6102(a), this fund includes monies derived from taxes, fees, permits, licenses, fines, forfeitures, and other sources or receipts, unless otherwise provided by law.
What is the General Fund (GF)?
This fundamental measurement focus emphasizes cash and assets that will become cash shortly, excluding long-term capital assets and long-term obligations from being recorded within a fund.
What is the flow of current financial resources?
Proprietary Funds, Pension Trust Funds, OPEB Trust Funds, and Component Units report their accounts using this specific basis of accounting.
What is the accrual basis of accounting?
Under Exhibit A, Custodial Funds (such as Child Support Collections and Pass-Through funds) are encompassed within this broader numerical range.
What is the 850–899 series?