OFFICE OF FINANCIAL MANAGEMENT

Updated 04/14/01

Accruals. Expenses incurred for goods and services received, but the payment has not yet taken place.
 

Annual Budget. This represents the current spending authority that has been earmarked for spending by a particular organization for goods or services (budget object class).
 

Budget Fiscal Year or BFY. Federal Financial System (FFS) allows for two distinct year identifiers; Budget Fiscal Year and Fiscal Year (see below). The Budget Fiscal Year represents the beginning and ending fiscal year that the authority is funding. The Budget Fiscal Year can be one year or two. For the 01 Fund the budget fiscal year is the year in which the authority was received and obligated, for example, 2000 01CS (Commercial Service). Any unobligated authority at the end of the year is carried over to the next budget fiscal year as authority for new obligations. The Agency for International Development (AID) transfer, fund 05, has two budget fiscal years. The first year is the first year the authority is received and the second year is the last year that new obligations can be entered, for example, 1999/2000 05 or 2000/2001 05. Obligations will be tied to the budget fiscal year they were established until fully expended or de obligated.
 

Budget Object Code or BOC or Cost Category. Represents the four character code used to identify the type of goods or services purchased. The first two characters identify the Federal Object Class. The Cost Category rolls various BOC's into one Category.
 

Cost Center. Cost center is an organizational entity to which program responsibilities are assigned and to which cost reports are directed. A cost center may be assigned responsibilities for more than one project.
 

Expenditures. Expenditures represent the outlays of authority for which the goods or services have been received.
 

Fiscal Year (FY). FFS allows for two distinct year identifiers; Budget Fiscal Year (see above) and Fiscal Year. The fiscal year is tied to the Treasury fiscal year and always begins October 1 and ends September 30. On September 30 the fiscal year is closed and cannot be accessed in the future.
 

Fund. The apportionment or special break down of the appropriation. This spending authority break is set by congress and OMB.
 

Obligations. For the purpose of ITA financial reports, obligations are the undelivered orders. They are entered in the financial system using transaction codes; GO, MO, MS, or TO (see the ITA Document Transaction Codes Section).
 

Organization or ORGN. The Organization is another name for the Cost Center associated with the information.
 

Outlays of Authority. The total cost incurred against the budget.
 

Program. The Program is another name for the ITA project code.
 

Spending. ITA identifies the total outlays (Undelivered Orders, Accruals and Expenditures) as 'spending'.
 

Undelivered Orders. Undelivered Orders or UDO's represent outlays of authority for which the goods or services have not yet been received.
 

YTD. This is an abbreviation for year-to-date. It represents what has occurred in the current fiscal year.