GA_budget_cycle-1 - State of Georgia Budget Cycle G overnor...

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Unformatted text preview: State of Georgia Budget Cycle G overnor ' S o ffiCe of P lann i n G & B u dGet G LO S S A R Y ABP: Annual business plan. details current year's implementation of the agency's strategic plan. agencies submit their annual business plan as part of their annual operating budget. Agency Budget Requests: a proposal for spending for the next fiscal year, explaining how the agency will resource new or expanded programs. agencies must submit their budget requests by September 1st for fiscal year beginning July 1st of the following year. Amended Budget Bill: an amended appropriations bill that adjusts current year agency budgets to account for changes that have occurred since passage of the general appropriations bill. Amended Current Budget: the Governor's recommendation for changes to the current year budget, typically to accommodate changes such as expanded school enrollment. Allotment: The authorization for a state agency to withdraw state funds from the state treasury for expenditures. Analyze Legislation: the process of examining proposed legislation for fiscal and policy impacts. AOB: Annual Operating Budget. Each agency's financial plan for annual expenditures, based on the appropriations act; submitted to oPB by May 31st each year. AOB Amendments: an agency's proposed revisions to the annual operating budget, which must be submitted to oPB for approval. Appropriations Bill: legislation that authorizes expenditure of state and federal funds during a given fiscal year. Audit: Year end validation that agencies have adhered to the budget, as defined in the appropriations act, generally accepted accounting principles, state policy and law. Produced by Department of Audits. BIB: Budget in Brief. a summary of the appropriations act as signed by the Governor. CAFR: Comprehensive Annual Financial Report. A publication of the State Accounting Office, detailing the financial position of the state. Due by December 31st each year. Current Budget: the annual operating budget as amended for July 1 June 30. Expenditure Analysis: examination of agency expenditures for the purpose of understanding the agency's business, monitoring budget compliance and assisting in planning. Final Amendment: the last amendment submitted by an agency to close out the fiscal year. Forecast: A projection of outcome, expenditures and revenue changes that will occur as the result of a proposed change to a program and/or policy. Fiscal Affairs Committee: a committee authorized to meet at the request of the Governor when the General Assembly is not in session in order to consider the transfer of funds between programs. Fiscal Note: a document signed by the state auditor and the director of OPB explaining the fiscal impact of proposed legislation. Georgia Statistical Report: An overview of State demographics and key measures by policy area. Content is published annually in the Governor's Budget report and Georgia in Perspective, supplemented by annual census projections. Governor's Budget: an extensive report that details the Governor's budget recommendation including the state strategic plan, financial status, revenue, reserves and agency budgets for the state. the Governor is required to provide this document to the General assembly by the fifth day of the annual legislative session. Governor's Budget Bill: the Governor's budget summarized in the form of a recommended appropriations bill. GSFIC Status Report: A financial summary of spending by capital outlay project issued by the Georgia State finance and investment Commission. Plans and Measures: agency updates to their four-year strategic plan, annual business plan and associated program performance measures and targets. Program Assessment: A review of a program by a budget analyst that may include an analysis of program costs and trends from a zero based budgeting perspective. Program Evaluation: a comprehensive study of a program or policy issue. Program evaluations may include cost benefit analyses, decision analyses, historical trend analyses, benchmarking against similar programs in other jurisdictions, or best practice assessments. Turning the Curve Initiative: analytical process created by Mark Friedman, Fiscal Policy Studies Institute. this outcome-focused approach begins with identifying a population-related trend with significant financial or policy implications. next steps include specifying the underlying causes of the baseline, identifying partners with a role to play, articulating what works to "turn the curve", then developing an action plan with associated budget. SAO: State Accounting Office Site Visits: On-site trips to agency facilities, work sites or offices for the purpose of developing relationships and understanding programs, service delivery and client needs. Strategic Plan: The four-year outline of what the agency or state intends to accomplish. Strategic Planning Guidelines: instructions issued by oPB to agencies, specifying content and process for developing and submitting their strategic plans. Track Appropriations: The process by which OPB identifies and comments on any changes to the budget by the House, Senate or Conference Committee. 270 Washington Street SW Atlanta, GA 30334 PH 404-656-3820 FX 404-656-3828 Conceptual design by ScotCro,LLC and graphics by PlanetStudio, LLC. 2007 OPB | All rights reserved. ...
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