Fiscal Management

Balanced Budget
A Balanced Budget is a financial plan where total revenues are equal to or greater than total expenditures, ensuring no deficits incurred during a particular accounting period.
Debt Limit
The debt limit refers to the maximum amount of debt that a municipality or other applicable entity can incur. It is a critical financial constraint that ensures entities do not exceed prudent borrowing levels.
General Fund
The General Fund represents the primary operating accounts of a nonprofit entity, such as a government or government agency. It is used to finance regular activities and essential services.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.