PURCHASING
BUDGET
FIXED ASSETS
SPECIAL PROJECTS
ACCOUNTS PAYABLE
100

PACA is?

What is the Purchasing Association of Central Alabama?

100

This revenue type brings in the most funding?

What is Sales Tax?

100

This is our minimum capitalization threshold-unit cost?

What is $15,000?

100

This federal regulation provides uniform rules for managing federal financial assistance?

What is 2 CFR 200?

100

AP is the abbreviation for?

What is Accounts Payable?

200

This Bid Law requires competitive bidding for purchases of $30,000 or more?

What is Title 41?

200

This explains how many years the County has won the Budget Award from GFOA?

What is 7?

200

Asset balances are reconciled at this rate?

What is on a monthly basis?

200

This 2021 law was created to support public health and pandemic recovery efforts?

What is The American Rescue Plan Act of 2021 (ARPA)

200

These reports show outstanding amounts and how long have they been unpaid?

What is the Aging Report?

300

This procurement term describes a situation in which only one supplier is documented as capable of meeting a job requirement?

What is Sole Source?

300

This defines the budgeting method Jefferson County uses?

What is Incremental budgeting?

300

These assets have the highest annual depreciation expense?

What are Buildings and Infrastructure Assets?

300

This term describes the specific day a report or document must be submitted to remain compliant?

What is the Due Date?

300

AP should do these two items first when a vendor calls about a payment?

What is the receiving record and invoice?

400

This Bid Law requires competitive bidding for Public Works projects for $100,000 or more?

What is Title 39?

400

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?

400

This explains the amount of time the rotating inventory schedule covers?

What is 5 years?

400

This GASB 75 requirement helps Jefferson County estimate its future retiree benefit payments and long-term OPEB liability?

What is Actuarial Valuation?

400

This payment method electronically transfers money directly to a vendor’s bank account?

What is ACH?

500

This weekly report identifies, and documents all purchases within a given period?

What is the Encumbrance Report?

500

This budgeting principle alters funds within a current budget?

What is Budget Transfer?

500

This explains how shortening an asset’s useful life affect financial statements?

What is increases depreciation expense and results in a lower netbook value?

500

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)?

500

The method is used to compare the Quote, PO, and Invoice for payment?

What is a Three-way Match?