APPENDIX 1
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Appendix 1: Glossary
Glossary of terms
This glossary provides definitions of terms that are used throughout the study
guide and a list of relevant acronyms:
AFR Agency Financial Report
AGA Association of Government Accountants
BFELoB Budget Formulation and Execution Line of Business
CAFR Comprehensive Annual Financial Report
CEAR Certificate of Excellence in Accountability Reporting
CFO Chief Financial Officer
CGFM Certified Government Financial Manager
ERP Enterprise Resource Planning
FASAB Federal Accounting Standards Advisory Board
FASB Financial Accounting Standards Board
GAAP Generally Accepted Accounting Principles
GAAS Generally Accepted Auditing Standards
GAGAS Generally Accepted Government Auditing Standards
GAO Government Accountability Office
GAS Government Auditing Standards
GASB Governmental Accounting Standards Board
GPRA Government Performance and Results Act
GPRAMA Government Performance and Results Act Modernization Act
MD&A Managementís Discussion and Analysis
NIST National Institute of Standards and Technology
OMB Office of Management and Budget
PAR Performance and Accountability Report
SEA Service Efforts and Accomplishments
SPFI Summary of Performance and Financial Information
Accountability
Principle that, in a democracy, government operates
by the consent of the people. Therefore, it is
responsible to, and must answer to, the people for its
actions and results, including the taking and using of
the peopleís resources.
Allotment
In the federal government, an agencyís distribution of
apportioned budgetary authority to various
components within the agency. After the executive
agency receives its apportionment, it allots budgetary
authority to specific components within the agency.
Anti-Deficiency Act
At the federal level, a law stating that officials can be
fined and/or jailed if they obligate the government to
spend funds beyond the legally authorized purpose,
time or amount.
Online version, for personal use only
AGA Study Guide 1, 2016 Edition

Appendix 1: Glossary
Apportionment Definitions may vary at different levels of government.
At the federal level, this is OMBís approval to use a
portion of the legislatively approved budgetary
authority.
Appropriated budget Budget that has been passed by the legislative branch
(and signed by the chief executive, if required); has
effect of law.
Appropriation A legislative enactment (law, statute or ordinance) that
creates spending authority; the legal authority to incur
expenses and spend money.
Attestation
engagement
Engagement concerned with examining, reviewing or
performing agreed-upon procedures on a limited
subject matter, or a limited assertion about a subject
matter, and reporting on the results. The subject
matter may be financial or nonfinancial.
Authorization Legislative enactment that approves programs;
prescribes what activities an agency may pursue if
funding is available.
Block grant One type of formula grant. Block grants combine
several service categories into one grant and, thus,
allow maximum flexibility to the grantee to use the
funds to meet local needs. (Also see ìCategorical
grant.î)
Capital budget Forecasts and controls spending for "big-ticket" items
that are acquired and used over a period of several
years, such as construction projects and major
equipment purchases. Used at state and local levels.
Capital lease A lease of real property that meets defined criteria
requiring the government to report the property as if it
were purchased with the proceeds of long-term debt.
Cash-flow budget Forecasts the timing, as well as amount of cash flows,
for a period. Used to project required cash levels.
Categorical grant One type of formula grant that can be used only for a
narrowly defined purpose. (Also see ìBlock grant.î)
Online version, for personal use only AGA Study Guide 1, 2016 Edition

Appendix 1: Glossary
Central management
agencies
Certificate of
Excellence in
Accountability
Reporting (CEAR)
Certificate of
participation
Charter
Checks and balances
Chief Financial
Officers (CFO) Act
Commission
Component
Comprehensive
Annual Financial
Report (CAFR)
Government agencies that provide central
management services to other components. An
example would be a state governmentís human
resources office (that serves all state agencies) or the
Office of Management and Budget at the federal level.
An AGA program that helps federal agencies and their
components produce effective, high-quality
Performance and Accountability Reports/Agency
Financial Reports.
Form of shared government financing. In a typical
form, several financial institutions share in a loan
arrangement with a government entity.
Local government version of a constitution. States may
provide for the establishment of local governments
through charters.
Process by which one branch of government
(legislative, executive or judicial) can constrain actions
of the other branches. Flows from separation of
powers.
A 1990 law that, ...






























































































































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