discussion memo
step 1
results of research, respondenets asked to comment, no views
invitiation to comment
step 2
now views, asked to comment
preliminary views
initial proposal, single or several views
exposure draft
last step
published before final standard
direct costs
salaries, supplies, travel, etc that can be identified with a single cost objective
inter entity costs
costs incurred by one organization that are a legitimate costs of a cost objective in another organization
- imputed costs
intra entity
same government entity but different parts
- within and between federal government agencies
- eliminated
sffas 54
leases
provisional rate
temporary rate applied to specified period, pending final rate
predetermined rate
indirect cost rate applicable to current or future period, based on estimate of costs, not subject to adjustment
fixed rate
difference between estimated and actual costs is carried forward as an adjustment
final rate
applicable to specified past period, not subject to adjustment
organizational unit
department, division, agency
function
major government service classification
- public safety, social services
program
group of activities within function
- school lunch, clean air
category/source
type of revenue generated
- licenses, taxes
character
fiscal period expenditure is presumed to benefit
- current period
line item budgeting
each org unit prepares a budget request by line item/object class
- facilitate cost containment and easy to understand
- elimates best way to accomplish the mission, not easy to shift spend
baseline budgeting
current programs will continue without change in level of service
- requires little analysis
program budget
considers expenditures in relation to programs not line item level
- flexibility
zero based budgeting
each org unit starts with 0 budget and has to justify the continuation
performance budgeting
preparer states that for defined level of resources, it will provide a defined level of performance
serial bonds
most common
few bonds paid off each year for a series of years
- used for interperiod equity
level debt service
alternative to serial bonds
amount paid for principle and interest each year is about the same
- mortgage
