PURCHASING
PACA is?
What is the Purchasing Association of Central Alabama?
This revenue type brings in the most funding?
What is Sales Tax?
This is our minimum capitalization threshold-unit cost?
What is $15,000?
This federal regulation provides uniform rules for managing federal financial assistance?
What is 2 CFR 200?
AP is the abbreviation for?
What is Accounts Payable?
This Bid Law requires competitive bidding for purchases of $30,000 or more?
What is Title 41?
This explains how many years the County has won the Budget Award from GFOA?
What is 7?
Asset balances are reconciled at this rate?
What is on a monthly basis?
This 2021 law was created to support public health and pandemic recovery efforts?
What is The American Rescue Plan Act of 2021 (ARPA)
These reports show outstanding amounts and how long have they been unpaid?
What is the Aging Report?
This procurement term describes a situation in which only one supplier is documented as capable of meeting a job requirement?
What is Sole Source?
This defines the budgeting method Jefferson County uses?
What is Incremental budgeting?
These assets have the highest annual depreciation expense?
What are Buildings and Infrastructure Assets?
This term describes the specific day a report or document must be submitted to remain compliant?
What is the Due Date?
AP should do these two items first when a vendor calls about a payment?
What is the receiving record and invoice?
This Bid Law requires competitive bidding for Public Works projects for $100,000 or more?
What is Title 39?
This describes the date the budget book is due for FY27, using the legacy/existing criteria?
When is 12/10/2026---90 days after the budget is adopted?
This explains the amount of time the rotating inventory schedule covers?
What is 5 years?
This GASB 75 requirement helps Jefferson County estimate its future retiree benefit payments and long-term OPEB liability?
What is Actuarial Valuation?
This payment method electronically transfers money directly to a vendor’s bank account?
What is ACH?
This weekly report identifies, and documents all purchases within a given period?
What is the Encumbrance Report?
This budgeting principle alters funds within a current budget?
What is Budget Transfer?
This explains how shortening an asset’s useful life affect financial statements?
What is increases depreciation expense and results in a lower netbook value?
Jefferson County is required to submit this annual report that lists all federal award expenditures for the fiscal year?
What is the Schedule of Expenditures of Federal Awards (SEFA)?
The method is used to compare the Quote, PO, and Invoice for payment?
What is a Three-way Match?