Asset, liability, equity, revenue and expense accounts. Balance sheet accounts are entered directly on transactions and revenue and expense accounts default from the Spend/Revenue Categories of the Pay Component.

Lease purchase and lease development agreements are forms of financing contracts that enable a building to be built or substantially remodeled to state specifications by a private developer. In both cases, the developer finances the project and recovers the cost through least payments. By the end of the lease period, the state may exercise the option to purchase at a predetermined price. There is no tax exemption for the developer, and market interest rates prevail. Any funds required to pay the cost of leasedevelopment proposals should be requested through the operating budget.

Leases are contracts entered into by the state which provide for the use and purchase of real or personal property and provide for payment by the state through the operating budget. All financing contracts must be approved by the state Finance Committee. A lease must have the approval of OFM if it is for space under development or has an obligation of over $1 million annually, regardless of the length of the lease obligation.

Lean is a systematic approach to improving value to customers by eliminating waste. The focus is on the customer and the work steps (or value stream") that create products or services for customers. Lean thinking

LEED™ is a green building certification program that recognizes best-in-class building strategies and practices. RCW 39.35D states that all new construction of state-owned buildings over 5,000 square feet and renovations to state-owned buildings when the cost is greater than 50 percent of the assessed value of the building shall be designed and built to a minimum LEED™ Silver Standard.

Key performance indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.

A reason or explanation that defends why your agency should retain a computer system/application.

A fund type used to report activities that provide goods or services to other funds, departments, or agencies of the state on a cost reimbursement basis. Internal service funds are used where the state is the predominate participant in the activity.

See: Interagency Agreements

An agreement between government agencies, entities or departments that defines cooperative work or services to be performed between them. The agreement defines the parties involved, the work performed and the transfer of resources, technologies and funds.