§ 2. Definitions. As used in this chapter, such terms shall have the\nfollowing meanings:\n 1. "Account". A classification by which information on particular\nfinancial transactions and financial resources is recorded and arranged.\n 1-a. "Business day". Any day of the year which is not a Saturday,\nSunday or legal holiday in the state of New York and not a day on which\nbanks are authorized or obligated to be closed in the city of New York.\n 2. "Capital projects funds". Funds used to account for financial\nresources to be used for the construction of capital facilities or\nacquisition of major capital facilities other than those financed by\nproprietary funds, special revenue funds, and fiduciary funds.\n 2-a. "Capital project". Any project involving:\n (i) the acquisition, construction, demolition or replacement of a\nfixed asset or assets;\n (ii) the major repair or renovation of a fixed asset, or assets which\nmaterially extends its useful life or materially improves or increases\nits capacity; or\n (iii) the planning or design of the acquisition, construction,\ndemolition, replacement, major repair or renovation of a fixed asset or\nassets.\n 3. "Debt service funds". Funds which are used to account for the\naccumulation of resources for, and the payment of, general long-term\ndebt principal and interest.\n 4. "Disbursement". The payment or transfer of money from a fund other\nthan for investment purposes.\n 5. "Enterprise funds". Funds used to account for activities of state\ngovernment which are intended by law to be self-supporting or to be\nfinanced in whole or in part by user charges. "Enterprise funds" shall\nalso include funds used to account for activities of state government\nfor which the law requires that there be a periodic determination of\nrevenues earned and expenses incurred.\n 6. "Expenditure". A decrease in net financial resources as further\ndefined by generally accepted accounting principles.\n 6-a. "Fixed assets". (i) Assets of a long-term, tangible character\nwhich are intended to continue to be held or used, such as land,\nbuildings, improvements, machinery, and equipment, and (ii) assets that\nprovide a long-term interest in land, including conservation easements.\n 6-b. "Capital assets". Fixed assets and infrastructure assets,\nincluding but not limited to roads, bridges, facilities, mass\ntransportation facilities, and water, sewer and drainage systems.\nCapital assets shall also include capital asset groups, which are of a\nsimilar nature or perform a similar function and cannot be readily\nidentified as individual capital assets, such as roads or canals.\n 7. "Fiduciary funds". Funds used to account for assets held by the\nstate in a trustee capacity or as an agent for individuals, private\norganizations, and other governmental units. Fiduciary funds include\npension trust funds, private-purpose trust funds and agency funds.\n 7-a. Financial plan. A complete plan of receipts and disbursements or\nof revenues and expenditures for all governmental funds as defined in\nthis chapter.\n 8. "Fund". A fiscal and accounting entity with a self-balancing set of\naccounts recording cash and other financial resources, together with all\nrelated liabilities and residual equities or balances, and changes\ntherein, which are segregated for the purpose of carrying on specific\nactivities or attaining certain objectives in accordance with special\nregulations, restrictions, or limitations.\n 9. "Fund type". A classification by which funds are grouped and\nreported on in accordance with generally accepted accounting principles.\n 10. "Generally accepted accounting principles". The principles of\ngovernmental accounting specified by authoritative national\nstandard-setting bodies.\n 11. "Generally accepted auditing standards". The standards of\ngovernmental auditing specified by authoritative national\nstandard-setting bodies.\n 11-a. "General fixed assets". All fixed assets used in operations
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