A block grant is a large sum of money granted by the national government to a regional government with only general provisions on how it is to be spent. States have broader discretion in how they use the funds.
A government entity whose purpose is to ensure uniform property tax assessments. It operates at both local and state levels to review and assure fair assessments.
A corporate charter is a legal document that establishes a corporation's existence and outlines its basic operational structure, rights, and responsibilities. Also known as articles of incorporation, it is filed with the state government and includes key details about the corporation.
In state and local governments, 'General Revenue' refers to the total revenue received, excluding revenue from utilities, sales of alcoholic beverages, and insurance trusts.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.