State Codes and Statutes
Statutes > New-york > Vil > Article-5 > 5-500§ 5-500 Definitions. For the purposes of this article the following terms shall be defined as follows: l. "Administrative unit" shall mean an office, department, division, bureau, board, commission or other agency or specific activity of village government. 2. "Budget officer" shall mean the mayor or, in a village which has adopted the village manager plan, the village manager. The mayor or village manager, as the case may be, may designate any other village officer or employee to be budget officer, to serve at his pleasure. 3. "Character of expenditure" shall mean the classification of an expenditure as to periods of benefit as follows: a. current expenses, b. debt retirement or c. capital projects. 4. "Fiscal year" shall mean the period commencing on the first day of June in one calendar year and ending on the thirty-first day of May in the following calendar year, unless the board of trustees shall have established a different fiscal year pursuant to the provisions of former section one hundred seventeen of the village law as enacted by section fourteen of chapter eight hundred nine of the laws of nineteen hundred fifty-four or pursuant to section 5-510 of this article or section 17-1729 of article seventeen. 5. "Fund" shall mean a group of accounts set aside for the purpose of accounting for moneys or other resources of general functions or specific activities of water supply, capital projects or other activities of a village in accordance with a system of accounts. 6. "System of accounts" shall mean a system prescribed by the state comptroller. In the case of water utilities it shall also mean a system recommended by the public service commission or a system generally recognized as a national standard and provided either such alternate system has been approved by the state comptroller following receipt of an application and a certified copy of a resolution adopted by the board of trustees of a village authorizing the maintenance of such alternate accounting records for a water utility. 7. "Object of expenditure" shall mean the classification of an expenditure as to types of articles purchased or services rendered. 8. "Unappropriated unreserved fund balance" shall mean the difference between the total assets for a fund and the total liabilities, deferred revenues, encumbered appropriations, amounts appropriated for the ensuing fiscal year's budget, and amounts reserved for stated purposes pursuant to law, including reserve funds established pursuant to the general municipal law for the fund, as determined through application of the system of accounts prescribed by the state comptroller pursuant to section thirty-six of the general municipal law.
