2013 New York Consolidated Laws
VIL - Village
Article 5 - (5-500 - 5-532) FINANCES
5-500 - Definitions.

 
    §  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.