Glossary of Financial Terms
Definitions and Explanations
The following glossary is designed to help non-finance experts understand some of the terminology used in public agency financial management. Public agency financial management frequently involves terms that are unfamiliar to non-experts, the definitions of which also involve other unfamiliar terms.
These definitions and explanations sometimes sacrifice technical accuracy in order to promote a general understanding of what a term means. The Institute encourages those that wish absolute technical accuracy to consult additional sources.