Glossary

Fiscal Year – The period during which a fiscal year's budget may be expended.  This period for any fiscal year is from July 1st of the preceding calendar year through June 30th of the current calendar year. It is the period within which all goods and/or services must be received to be payable with those fiscal year funds.  For example, fiscal year 2018 began on July 1, 2017 and ended on June 30, 2018.

Fund Number- Funds are fiscal and accounting entities, almost always established in general law, used to deposit revenues that are dedicated to specific purposes and finance expenditures for those purposes. For instance, income tax revenue is deposited in the Commonwealth’s General Fund to finance general government expenditures, while motor fuel tax collections and vehicle registration fees are deposited in the Commonwealth Transportation Fund, and are used to fund transportation-related spending, including the Massachusetts Department of Transportation (MassDOT) and Commonwealth debt service on bonds used to finance road and bridge construction. Each fund is designated in the state accounting system with a four-digit code. For example, the General Fund is designated with the digits 0010 and the Commonwealth Transportation Fund is designated with the digits 0103. The funds included in this section of CTHRU are only those subject to the Commonwealth’s annual appropriations process (“Budgeted Funds”).