UCD Accounting Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z List All Terms

Term Definition

Bank Draft This is a check drawn on a bank in a foreign country in a foreign currency and mailed from Accounts Payable.

Base Budget A base budget (permanent budget) is established for those functions that require a long-term financial commitment or have a long-term impact on the fiscal operations of the university (e.g., general funds, student fees, self-supporting funds). Funds in the base budget are automatically reallocated at the start of each fiscal year. The base budget is modified by using the Base Budget Adjustment document in DaFIS. The base budget rolls forward every year and is the starting point for that year's current operating budget.

Blanket Order A purchase agreement in which the purchaser contracts with a vendor to provide item(s), and/or service(s), on an "as required" and frequent basis. Such agreements have a limit on the period of time for which they are valid, and the amount of money that can be spent in that time.

Budget A financial plan that estimates the costs of conducting future activities. The budget is intended to express the program objectives and how they will be carried out in terms of resources required.

Budget Adjustment The act of amending the budget by moving funds from one category or line item to another

Budget Period The intervals of time into which a multi-year project period is divided for budgetary/funding purposes.

Budget Review Periodic review for each major unit headed by a Dean or Vice Chancellor, where the campus leadership and a Dean or Vice Chancellor discuss funding issues, program priorities and faculty recruitment needs.

Budgetary Savings Annual budget reductions required to balance the university's budget. Since these are not permanent reductions, the targets can sometimes be achieved by current year salary savings or by reducing purchases.

Term	Definition
Bank Draft	This is a check drawn on a bank in a foreign country in a foreign currency and mailed from Accounts Payable.
Base Budget	A base budget (permanent budget) is established for those functions that require a long-term financial commitment or have a long-term impact on the fiscal operations of the university (e.g., general funds, student fees, self-supporting funds). Funds in the base budget are automatically reallocated at the start of each fiscal year. The base budget is modified by using the Base Budget Adjustment document in DaFIS. The base budget rolls forward every year and is the starting point for that year's current operating budget.
Blanket Order	A purchase agreement in which the purchaser contracts with a vendor to provide item(s), and/or service(s), on an "as required" and frequent basis. Such agreements have a limit on the period of time for which they are valid, and the amount of money that can be spent in that time.
Budget	A financial plan that estimates the costs of conducting future activities. The budget is intended to express the program objectives and how they will be carried out in terms of resources required.
Budget Adjustment	The act of amending the budget by moving funds from one category or line item to another
Budget Period	The intervals of time into which a multi-year project period is divided for budgetary/funding purposes.
Budget Review	Periodic review for each major unit headed by a Dean or Vice Chancellor, where the campus leadership and a Dean or Vice Chancellor discuss funding issues, program priorities and faculty recruitment needs.
Budgetary Savings	Annual budget reductions required to balance the university's budget. Since these are not permanent reductions, the targets can sometimes be achieved by current year salary savings or by reducing purchases.

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