The giving, receiving, offering, or
soliciting of any item of value as a means of
influencing the actions of a public servant.
An intermediary specializing in a
particular good or service who is hired to
represent either a buyer or a seller.
A financial statement that projects
income or expenditures over a specified
period. Entity budgets generally are classified
as operating budgets or capital budgets.
Amount by which expenses
exceed revenue during a set period of time.
A communication normally
written by the chief executive that
accompanies the financial estimate. Its
purpose is to explain the main points of the
financial plan, the assumptions under which it
was assembled, and the major policy
Prohibits a governmental entity
from spending funds beyond those that the
legislative body appropriates for it. It is the
impetus for encumbrance accounting, which
requires a purchase requisition or other form
to be used that certifies that the entity has the
Amount by which revenue
exceeds expenses during a set period of time.
1. To purchase in volume with the expectation of
reducing the unit price of an item.
2. To aggregate quantities of material in hopes
of achieving deeper discounts and better
See also: Bundling.
An economy experiencing a
prolonged rising value of stocks. See also:
The grouping of items for purchase to
reduce administrative expenses or to obtain
better unit prices through the benefit of
economies of scale. See also: Bulk