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The Appropriations Law Answer Book by William G. Arnold

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Appendix 2

Glossary of Terms

ACCOUNT

A separate financial reporting unit for budget, management, or accounting purposes. All budgetary transactions are recorded in accounts, but not all accounts are budgetary in nature. Some accounts do not directly affect the budget; they are used purely for accounting purposes.

Budget accounts are used to record all transfers within the budget, whereas other accounts (such as a deposit fund, credit financing, and foreign currency accounts) are used for accounting purposes for funds that are nonbudgetary in nature.

The Office of Management and Budget (OMB), in consultation with the Department of the Treasury, ...

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