Accounting

Statewide Accounting glossary

This is a list of terms used within the Washington Administrative and Accounting Manual (WAAM) and within Workday. To find a term, enter it in in the search box, and select 'Apply'.

Term	Category	Definition
General Fund-State		Refers to the basic account that receives revenue from Washington's sales, property, business and occupation, and other general taxes and is spent for operations such as public schools, social services and corrections.
General obligation bonds		Statewide bond issues whose repayment is guaranteed by the full faith, credit, and taxing power of the state and that are subject to the state's debt limit. General obligations bonds are the traditional form of government debt financing for major construction projects.
Generally Accepted Accounting Principles (GAAP)		Uniform minimum standards for financial accounting and reporting. They govern the form and content of the financial statements of an entity. GAAP encompass the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. They include not only broad guidelines of general application but also detailed practices and procedures.
Geotechnical investigation		The cost to do soils boring, sampling, testing, and prepare recommendations. The soil boring and sampling process, together with associated laboratory tests are necessary to establish subsurface profiles and the relative strengths, compressibility and other characteristics of the various strata encountered within depths likely to have an influence on the design of the project.
Get (permission)	Cross Application	Get is an integration action that retrieves Workday data. It is a permission that can be granted in a domain security policy.
Go-live		Go-live is the date on which the new ERP system becomes operational. For the entirety of the One Washington program, there will be several go-lives as different phases replace different systems and processes (i.e. phase 1 will replace AFRS).
Goals		Broad, high-level, issue-oriented statements of an organization's desired future direction or desired state.
Governance		An organizational structure to set the responsibilities and practices exercised by the governing bodies to provide strategic direction, ensure that objectives are achieved, appropriately manage risks and change, and ensure good stewardship of state resources.
Governmental funds		A fund classification used to account for most typical governmental functions. The acquisition, use, and balance of the state's resources and related current liabilities, unless required to be accounted for in proprietary funds or fiduciary funds, are accounted for in this classification of funds. There are five types of governmental funds: General Fund, Special Revenue funds, Capital Projects funds, Debt Service funds and Permanent funds.
Governmental purposes		As used in the context of use of bond/COP proceeds to pay the costs of facilities expected to be owned or used by, or to make any loan or grant to, a state and local government unit as defined in Treas. Reg. 1.103-1. This includes any state or political subdivision thereof that has been delegated substantial taxing, police, or condemnation power under state law or any instrumentality thereof
Governor's emergency fund		An appropriation made available to the Governor for unforeseen expenditure requirements in state agencies.
Grant		Awards of financial assistance, including cooperative agreements, in the form of money or property in lieu of money to an eligible grantee. Capital grants are restricted for the acquisition, constructions, or renovation of capital assets associated with a specific program. Operating grants support all or a portion of current operating expenses within a certain program.
Heating, ventilation, and air conditioning balancing		The cost to test and balance designed heating, ventilation and air conditioning systems, including water flows, at the completion of construction.
Hierarchies		Hierarchies are organizational structures that show relationships between different elements in the FDM. Hierarchies reflect each code’s relative place in that worktag structure. For ledger accounts, these hierarchies are referred to as summaries.
Hosted catalogue		Supplier catalogs hosted on DES website—master contract portal pages.
Improvement		A legal term referring to anything erected on and affixed to land (e.g., buildings, roads, fences, and services), which legally becomes part of the land, according to common law and statutory definition.
Incremental budgeting		Any budget development approach that focuses on incremental changes to a previous spending level or other defined expenditure base.
Independent Contingent Worker	Financial	An independent contingent worker (ICW) not represented by a supplier, and accounted for as a 1099 supplier. You issue purchase orders to, create receipts for, and pay ICWs just as you do suppliers.
Indirect cost		Costs incurred for a common or joint purpose benefitting more than one cost objective, and not readily assignable to the cost objectives specifically benefitted, without effort disproportionate to the results achieved.
Information Technology (IT)		All electronic technology systems, products and services. Equipment, software, services, and products used in processing information, office automation, and telecommunications (voice, data and/or video).
Information technology portfolio		The planning and management process for information technology resources and investments overseen by the Office of the Chief Information Officer.
Initial costs		The same as first cost" or the cost to provide the service or product in today's dollars for a project. Different from life cycle costs
Initiation Step	Cross Application	An initiation step is the first step of a business process.
Initiative		When used with other custom worktags, can be used for state level as well as agency specific purposes.
Initiative 601		A law on state budget restrictions approved by voters in the November 1993 general election. Its primary requirements are: an expenditure limit based on inflation and population growth (applicable to state General Fund expenditures only); an emergency reserve account for any GF-S revenues above the expenditure limit; a percentage limit on how much state fees can be raised without legislative approval; and a two-thirds legislative vote requirement on certain state tax increases.
Inspection (on site)		The examination of work completed or in progress to determine its conformance with the requirements of the contract documents.
Instance	Cross Application	An instance refers to one unique occurrence of a business object, for example, your Executive Management organization, or John Doe, the worker.
Integration (INT)	Integration	The process of bringing together various systems, automating the flow of information and eliminating the need for repetitive or manual data entry. INT is the shorthand for the term and is usually displayed as INT attached to a number, for example INT039.
Integration Attribute	Integration	An integration component that specifies the tenanted value of a data element in Workday. For example, Master Policy Number is a type of attribute in benefit provider integrations.
Integration Cloud Connect	Integration	A catalog of packaged integrations, partner integrations, and connectors to common applications and service providers that extend Workday's functionality. The integrations span the entire range of Workday applications, including Benefits, Human Capital Management, Payroll, Financial Management, and Spend Management. All Cloud Connect integrations are hosted and maintained by Workday.

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