(1) "Appropriation" means an allocation of money by the governing board in a budget for a specific purpose.

(2) "Budget" means a plan of financial operations for a fiscal year that embodies estimates of proposed expenditures for given purposes and the proposed means of financing them, and may refer to the budget of a particular fund for which a budget is required by law or may refer collectively to the budgets for all required funds.

(3) "Budget officer" means the person appointed by an interlocal entity governing board to prepare the budget for the interlocal entity.

(4) "Budget year" means the fiscal year for which a budget is prepared.

(5) "Calendar year entity" means an interlocal entity whose fiscal year begins January 1 and ends December 31 of each calendar year as described in Section 11-13-503.

(6) "Current year" means the fiscal year in which a budget is prepared and adopted, and which is the fiscal year immediately preceding the budget year.

(7) "Deficit" means the occurrence when expenditures exceed revenues.

(8) "Enterprise fund" has the meaning provided in generally accepted accounting principles.

(9) "Estimated revenue" means the amount of revenue estimated to be received from all sources during the budget year in each fund for which a budget is being prepared.

(10) "Fiscal year" means the annual period for accounting for fiscal operations in an interlocal entity.

(11) "Fiscal year entity" means an interlocal entity whose fiscal year begins July 1 of each year and ends on June 30 of the following year as described in Section 11-13-503.

(12) "Fund" has the meaning provided in generally accepted accounting principles.

(13) "Fund balance" has the meaning provided in generally accepted accounting principles.

(14) "General fund" has the meaning provided in generally accepted accounting principles.

(15) "Generally accepted accounting principles" means the accounting principles and standards promulgated from time to time by authoritative bodies in the United States.

(16) "Governmental fund" has the meaning provided in generally accepted accounting principles.

(17) "Interfund loan" means a transfer of assets from one fund to another, subject to future repayment.

(18) "Interlocal entity" includes a governmental nonprofit corporation, as that term is defined in Section 11-13a-102.

(19) "Interlocal entity general fund" means the general fund of an interlocal entity.

(20) "Internal service funds" has the meaning provided in generally accepted accounting principles.

(21) "Last completed fiscal year" means the fiscal year immediately preceding the current fiscal year.

(22) "Proprietary fund" means enterprise funds and the internal service funds of an interlocal entity.

(23) "Public funds" means any money or payment collected or received by an interlocal entity, including money or payment for services or goods provided by the interlocal entity.

(24) "Retained earnings" has the meaning provided in generally accepted accounting principles.

(25) "Special fund" means an interlocal entity fund other than the interlocal entity general fund.