| TERM | DEFINITION |
|---|---|
| Taxes |
Compulsory, unrequited amounts receivable by government units from institutional units. In GFS 2014, using level three [3 digits], taxes are classified into six major categories: (i) taxes on income, profit, and capital gains; (ii) taxes on payroll and workforce; (iii) taxes on property; (iv) taxes on goods and services; (v) taxes on international trade and transactions; and (vi) other taxes. |
| Transfers (from central government to subnational governments) | Transfers to support subnational government’s expenditure can be made in the form of unconditional grants, where their final use is determined by the subnational governments through their budgets, or through conditional (earmarked) grants to subnational governments to implement selected service delivery and expenditure responsibilities—for example, by function or program, typically in accordance with an agreed-upon regulatory or policy standard. |
| Treasury single Account (TSA) | Bank account or a set of linked accounts through which the government transacts every receipt and payment. |
| Unallocated appropriations | See “contingency items” |
| Unallocated expenses | See “contingency items” |
| Up-to-date | Degree to which information is current in terms of the laws and administrative procedures. Note: Defined in PI-19. Used as well in PI-12 and PI-31 but not exactly in the same terms. |
| User-friendly | Extent to which information is customized and tailored to meet the specific needs of key payer segments. |
| Valuables | Produced assets of considerable value that are not used primarily for purposes of production or consumption, but are held primarily as stores of value over time (GFSM 2014, page 418). |
| Value of an asset | See “acquisition value”, “fair or market value”. |
Glossary
