ofm.wa.gov

Website:https://ofm.wa.gov/
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Definitions (528)

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subrecipient


A non-federal entity that expends federal awards received from a pass-through entity to carry out a federal program, but does not include an individual that is a beneficiary of such a program. It also [..]
Source: ofm.wa.gov

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disposal date


With proper approval, the date that an agency officially disposes of or relinquishes responsibility for an asset.
Source: ofm.wa.gov

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fiscal period


Any period at the end of which a governmental unit determines its financial position and the results of its operations. Refer to ACCOUNTING PERIOD
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absolute title


Clean title, free of liens or attachments, replacing all previous titles. Accepted as the sole document of title, it is defensible against claims by third parties.
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access


Physical accessibility, as well as the provision of appropriate accommodations to ensure use of programs by persons with disabilities.
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account


A fiscal and accounting entity with a self-balancing set of general ledger codes in which cash and other financial resources, together with all related liabilities and residual equities or balances, a [..]
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account code


The three-character alpha/numeric code assigned by the Office of Financial Management to identify each account. Refer to ACCOUNT
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accounting period


Any period of time designated for which financial statements are prepared. Refer to FISCAL PERIOD
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accounting procedures


All procedures that discover, identify, record, classify, maintain, and summarize financial information to either produce financial reports or to provide internal control.
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accounting system


The methods and records established to identify, assemble, analyze, classify, record, and report the state’s transactions and to maintain accountability for its assets and liabilities.
Source: ofm.wa.gov


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