BASIS OF ACCOUNTING - This refers to the methodology and timing of when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Refer to ACCRUAL BASIS, MODIFIED ACCRUAL BASIS and CASH BASIS.
BETTERMENT - An addition made to, or change made in, a capital asset, other than maintenance, that is anticipated to prolong its expected useful life or to increase its capacity, efficiency, or quality of output.
BIENNIUM - A 24-month fiscal period. In Washington, the biennium extends from July 1 of odd numbered years to June 30 of odd numbered years.
BLOCK GRANT - A federal grant that consolidates, for a broad purpose, funding previously awarded for a wide range of activities.
BOND - A debt instrument issued through a formal legal procedure and secured either by the pledge of specific properties or revenues or by the general credit of the state.
BOND DISCOUNT - The excess of the face value of a bond over the price for which it is acquired or sold resulting from a disparity between the market rate of interest and the stated rate of interest on the bonds, also referred to as original issue discount （OID）. In governmental funds, bond discount associated with a bond sale is reported as an other financing use.
BOND ISSUE - A reference indicating the particular classification or quantity of bonds issued at a given time.
BOND PREMIUM - The excess of the price for which a bond is acquired or sold over its face value resulting from a disparity between the market rate of interest and the stated rate of interest on the bonds, also referred to as original issue premium （OIP）. In governmental funds, bond premium associated with a bond sale is reported as another financing source.
BOND REDEMPTION - The regaining of possession of bonds formerly issued by payment of amount due to the holder.
BONDS PAYABLE - The face value of bonds issued and unpaid. In the case of zero-coupon bonds, however, only the accreted value of the bond is reported as bonds payable on the balance sheet.
BOOK VALUE - The net amount at which an asset or asset group appears on the books of account, as distinguished from its market or intrinsic value. In the case of assets subject to reduction by valuation allowances, book value refers to cost or stated value less the appropriate allowance.
BOOKS OF ORIGINAL ENTRY - Books of original entry are a record in which the various transactions are initially and formally recorded and serve as the direct source of postings to ledgers （e.g. payroll register）.
BUDGET - A plan of financial operation embodying an estimate of proposed expenditures for a given period of time and the proposed means of financing them.
BUDGETARY ACCOUNTS - Accounts used to enter the adopted budget into the general ledger as part of the management control technique of formal budgetary integration.
BUDGETARY CONTROL - The control or management of a governmental unit in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and available revenues.
BUDGETED ACCOUNTS - Accounts that are subject to the appropriation and/or allotment process. Refer to APPROPRIATION and ALLOTMENT.
BUILDINGS - Permanent structures owned or held by the state. The cost of buildings includes both acquisition costs （historical cost, ancillary costs, and, for proprietary and trust funds, net interest during construction） and capital improvement costs （betterments）. Buildings include not only structures in the form of office buildings, storage quarters, or other facilities, but also associated items such as loading docks, heating and air-conditioning equipment, refrigeration equipment, and all other property permanently attached to or forming an integral part of the structure. Buildings can be capitalized as a single unit, or by individual component. Buildings do not include furniture, fixtures, or other equipment, which are not integral parts of the building. Refer to BETTERMENT.
BUSINESS-TYPE ACTIVITIES - Reported in the government-wide financial statements. Financed in whole or in part by fees charged to external parties for goods or services that are usually reported in enterprise funds. Refer to GOVERNMENT-WIDE FINANCIAL STATEMENTS.
CAPITAL ASSETS - Assets that meet the state's capitalization policy such as land, improvements to land, easements, buildings, leasehold improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure, and all other tangible or intangible assets that are used in state operations and that have initial useful lives extending beyond one year. Capital assets do not include depletable resources such as minerals or timber.
BETTERMENT - An addition made to, or change made in, a capital asset, other than maintenance, that is anticipated to prolong its expected useful life or to increase its capacity, efficiency, or quality of output.
BIENNIUM - A 24-month fiscal period. In Washington, the biennium extends from July 1 of odd numbered years to June 30 of odd numbered years.
BLOCK GRANT - A federal grant that consolidates, for a broad purpose, funding previously awarded for a wide range of activities.
BOND - A debt instrument issued through a formal legal procedure and secured either by the pledge of specific properties or revenues or by the general credit of the state.
BOND DISCOUNT - The excess of the face value of a bond over the price for which it is acquired or sold resulting from a disparity between the market rate of interest and the stated rate of interest on the bonds, also referred to as original issue discount （OID）. In governmental funds, bond discount associated with a bond sale is reported as an other financing use.
BOND ISSUE - A reference indicating the particular classification or quantity of bonds issued at a given time.
BOND PREMIUM - The excess of the price for which a bond is acquired or sold over its face value resulting from a disparity between the market rate of interest and the stated rate of interest on the bonds, also referred to as original issue premium （OIP）. In governmental funds, bond premium associated with a bond sale is reported as another financing source.
BOND REDEMPTION - The regaining of possession of bonds formerly issued by payment of amount due to the holder.
BONDS PAYABLE - The face value of bonds issued and unpaid. In the case of zero-coupon bonds, however, only the accreted value of the bond is reported as bonds payable on the balance sheet.
BOOK VALUE - The net amount at which an asset or asset group appears on the books of account, as distinguished from its market or intrinsic value. In the case of assets subject to reduction by valuation allowances, book value refers to cost or stated value less the appropriate allowance.
BOOKS OF ORIGINAL ENTRY - Books of original entry are a record in which the various transactions are initially and formally recorded and serve as the direct source of postings to ledgers （e.g. payroll register）.
BUDGET - A plan of financial operation embodying an estimate of proposed expenditures for a given period of time and the proposed means of financing them.
BUDGETARY ACCOUNTS - Accounts used to enter the adopted budget into the general ledger as part of the management control technique of formal budgetary integration.
BUDGETARY CONTROL - The control or management of a governmental unit in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and available revenues.
BUDGETED ACCOUNTS - Accounts that are subject to the appropriation and/or allotment process. Refer to APPROPRIATION and ALLOTMENT.
BUILDINGS - Permanent structures owned or held by the state. The cost of buildings includes both acquisition costs （historical cost, ancillary costs, and, for proprietary and trust funds, net interest during construction） and capital improvement costs （betterments）. Buildings include not only structures in the form of office buildings, storage quarters, or other facilities, but also associated items such as loading docks, heating and air-conditioning equipment, refrigeration equipment, and all other property permanently attached to or forming an integral part of the structure. Buildings can be capitalized as a single unit, or by individual component. Buildings do not include furniture, fixtures, or other equipment, which are not integral parts of the building. Refer to BETTERMENT.
BUSINESS-TYPE ACTIVITIES - Reported in the government-wide financial statements. Financed in whole or in part by fees charged to external parties for goods or services that are usually reported in enterprise funds. Refer to GOVERNMENT-WIDE FINANCIAL STATEMENTS.
CAPITAL ASSETS - Assets that meet the state's capitalization policy such as land, improvements to land, easements, buildings, leasehold improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure, and all other tangible or intangible assets that are used in state operations and that have initial useful lives extending beyond one year. Capital assets do not include depletable resources such as minerals or timber.