Fiscal Year – The State of Mississippi fiscal year runs from July 1 through June 30.
Major Objects of Expenditure – The nine expense categories used within the statewide accounting system. They are: 1) Salaries; 2) Travel; 3) Contractual Services; 4) Commodities; 5) Capital Outlay – Other than Equipment; 6) Capital Outlay – Equipment; 7) Capital Outlay – Vehicles; 8) Capital Outlay – Wireless Communication Devices; and 9) Subsidies, Loans and Grants.
Performance Measures – Statistics which quantify the results achieved by government programs. Three types of performance measures are utilized with the State budget system: 1) Program Outputs (volume); 2) Program Efficiencies (cost per unit); and 3) Program Outcomes (results or quality). The use of performance measures is required by statute as a result of the passage of SB 2995 of the 1994 Legislative Session. Performance measures are included in agency budget requests and in appropriation bills for the majority of the State General Funds.
Strategic Plan – A 5-year plan prepared by an agency that establishes long-range goals for the agency and a course of action to achieve those goals. The preparation of strategic plans was required by SB 2995 of the 1994 Legislative Session. Strategic plans are submitted by each state agency along with their annual budget request.
Lapse – The unexpended portion of any General Fund appropriation which is returned (or lapsed) back to the General Fund at the close of the fiscal year.
Built-ins – New costs arising from new or expanded programs which are deemed as mandatory due to state or federal law, court order or previous legislative commitment. The calculation of built-in costs is often difficult in that while a new program may be mandated, the level at which it is to be funds is not mandated.
OBRS – The Online Budget Request System is the Legislative Budget Office’s web application used by state agencies to enter and submit their annual budget request.
State Support Funds – Includes State General Funds and State Support Special Funds. It does not include Federal Funds or agency-generated Special Funds.
Significant State Support Special Funds:
Budget Contingency Fund – A fund created to receive transfers from other fund sources (special and general). The Budget Contingency Fund was first used in FY 2002 to supplement the State General Fund. Funds expended from the Budget Contingency Fund are considered non-recurring.
Capital Expense Fund – A fund created for capital expense needs, repair and renovation of state-owned properties and specific projects authorized by the Legislature. These funds are derived from a distribution of the fiscal year unencumbered ending General Fund cash balance as set out in statute.
Education Enhancement Fund – A fund created for the supplemental support of K-12, Two-Year Colleges, and 4-Year Institutions of Higher Learning. The statute requires that a percentage of state sales tax collections be deposited into the Education Enhancement Fund. These funds are then allocated based on a statutory formula to K-12 Education, Two-Year Colleges, and 4-Year Institutions of Higher Learning.
Health Care Expendable Fund – A fund created to receive statutorily authorized transfers from the Health Care Trust Fund. The Health Care Trust Fund receives the court ordered payments due the State of Mississippi as a result of the lawsuit won against tobacco manufacturers. Health Care Expendable Funds are to be appropriated for health-related purposes.
Tobacco Control Fund – A fund created for the support of tobacco cessation programs. The Tobacco Control Fund receives a portion of the court ordered payments due the State of Mississippi as a result of the lawsuit won against tobacco manufacturers.
Working Cash Stabilization Fund – A fund created to aid the state treasury with cash flow needs throughout the fiscal year, cover any projected General Fund revenue shortfalls that may occur in a fiscal year, and provide funds for the Disaster Assistance Trust Fund when requested. These funds are derived from a distribution of the fiscal year unencumbered ending General Fund cash balance as set out in statute.