A petty cash fund. A cash reserve
for expenditures made in accordance with
established policies and controls.
Excessive persuasion of an
entity employee to act or give consideration to
act in a manner contrary to the best interests
of the entity, rather than on the merits of the
matter. Also known as undue influence.
The state of goods that are
manufactured, stored, or transported under
the care of a bonded agency until duties or
taxes are paid on the goods.
The practice of allowing public
entities to compete against private suppliers
of goods or services.
Inspection performed at
the seller’s site, usually during the
manufacturing or repair process, to ensure
that the work to date complies with
specifications and contractual agreements;
this inspection has the potential to identify
defects that could not be seen during final
A preference in the form of a
percentage of price or percentage of points
given to offerors that are in-state businesses.
A contract that provides for a
reward to the contractor for reaching or
exceeding a pre-determined level of
performance or cost-reduction goals, or for
producing results that exceed the
requirements stated in the contract.
A report of a business' gains,
losses, expenses, and revenue over a specific
Actual cost rather than