Public Budgeting Basics, Fiscal Cycles, and Cost Classifications

0.0(0)
Studied by 0 people
call kaiCall Kai
Locked
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/3

encourage image

There's no tags or description

Looks like no tags are added yet.

Last updated 1:15 AM on 9/25/26
Name
Mastery
Learn
Test
Matching
Spaced
Call with Kai
Chat

No analytics yet

Send a link to your students to track their progress

4 Terms

1
New cards

  • Fiscal Year (FY):


  • Designated 12-month financial accounting period (Federal: October 1 to September 30; Indiana: ends June 30).


2
New cards

  • Budget Structure:


  • Consists of Budget Narrative, Line Items, Revenue (taxes, fees, borrowing), and Expenditures/Outlays.


3
New cards

  • Taxation Categories:


  • Income, Payroll (FICA for Social Security/Medicare), Sales, and Property taxes.


4
New cards

  • Cost Classifications


  • Direct (project-specific), Indirect (overhead), Transaction (procurement/negotiation), Sunk (unrecoverable past costs), Associated (secondary consequences), and Opportunity (foregone alternative value).