OFFICIAL STATE BUSINESS - Activities performed by an official or state employee, authorized volunteer, or contractor, work experience program participant, student or employee of another governmental jurisdiction as directed by his or her supervisor in order to accomplish state programs or as required by the duties of his or her position or office.
OFFICIAL STATION - The city, town, or other location where the state official or employee's office is located, or the city, town, or location where the state official or employee's work is performed on a permanent basis. For the purposes of these travel regulations, Olympia, Tumwater and Lacey are considered to be the same official station. A state official or employee's official station is to be designated by the agency. It is to be determined by the needs of the agency and not assigned because it is the home or preferred living area of a state official or employee.
OPERATING BUDGET - A plan of current expenditures and the proposed means of financing them. The operating budget is the primary means to ensuring that the financing, acquisition, spending, and service delivery activities of the state are controlled.
OPERATING EXPENSES - Proprietary fund expenses that are directly related to the fund's principal operations.
OPERATING GRANTS - Grants that support all or a portion of current operating expenses within a certain program. Refer to GRANTS and CAPITAL GRANTS.
OPERATING INCOME - The excess of proprietary fund operating revenues over operating expenses.
OPERATING REVENUES - Proprietary fund revenues that are directly related to the fund's principal operations. They consist primarily of user charges for goods and services.
OPERATING STATEMENT - The financial statement disclosing the financial results of operations of a governmental unit during an accounting period in conformity with generally accepted accounting principles （GAAP）.
OPERATING TRANSFERS - All interfund transfers other than equity transfers, e.g., legally authorized transfers from a fund receiving revenue to the fund through which the resources are to be expended. Refer to INTERFUND TRANSFERS.
ORDER NUMBER - The number of the purchasing document used for an acquisition of an asset.
ORGANIZATION OF STATE EMPLOYEES - As relates to contracting for child care services, a group of state employees who affiliate as a non-profit organization under Chapter 24.03 RCW and Section 501（c）（3） of the United States Internal Revenue Code for such purposes or a state employee labor organization.
ORIGINAL BUDGET - The first complete appropriated budget. The original budget may be adjusted by reserves, transfers, allocations, supplemental appropriations, and other legally authorized legislative and executive changes before the beginning of the fiscal year.
ORIGINAL ISSUE DISCOUNT （OID） - The amount by which the par value of a security exceeds its public offering price at the time it was originally offered to an investor.
ORIGINAL ISSUE PREMIUM （OIP） - The amount by which the price paid for a security exceeds the security's par value.
OUT-OF-STATE TRAVEL - Travel anywhere outside the boundaries of the state of Washington is to be coded as out-of-state travel. However, with respect to the requirement for prior authorization of out-of-state travel in Subsection 10.10.50, travel to counties and/or cities in the states of Idaho and Oregon that are contiguous to the border between Washington-Idaho or Washington-Oregon shall not be considered out-of-state.
OUTSIDE CONSULTANT - An independent contractor providing personal services.
OUTSTANDING WARRANT RECORD - A record used to record warrants issued by an agency which are not yet redeemed by the State Treasurer.
OVERHEAD - Those elements of cost necessary in the production of a good or service which are not directly traceable to the product or service. Usually these costs relate to objects of expenditure that do not become an integral part of the finished product or service, such as rent, heat, lights, management, and supervision.
OWNERSHIP STATUS - An indication as to who is responsible for possible claims against the asset by outside parties; e.g., federal government.
PARCEL LOCATION IDENTIFIER （FOR LAND ONLY） - The county assessor's parcel number of the land, or other code used by the agency to specifically identify the location of the land.
PAR VALUE - In the case of bonds, the amount of principal that must be paid at maturity. Par value is referred to as the face value of the security.
PENSION （AND OTHER EMPLOYEE BENEFIT） TRUST FUNDS - A fiduciary fund type used to report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, other post employment benefit plans, or other employee benefit plans. Refer to FIDUCIARY FUNDS.
PER DIEM EXPENSES - Daily travel costs covering both lodging expenses and subsistence expenses while in travel status.
PERFORMANCE AUDIT - A systematic process of objectively obtaining and evaluating evidence regarding the performance of an organization, program, function, or activity. Evaluation is made in terms of its economy and efficiency of operations and effectiveness in achieving desired goals. The performance audit function provides an independent review of management＊s performance and the degree to which actual performance meets pre-stated goals. Refer to AUDIT.
PERIODIC INVENTORY - An inventory system whereby the agency performs a physical count of its inventory periodically, at least annually at fiscal year end.
PERMANENT FUNDS - Permanent funds are used to report resources that are legally restricted to the extent that only earnings, and not principal, may be used for the purposes that benefit the state or it's citizens. Permanent funds include endowments where the funds or property donated to the state are required by contract, agreement or trust instrument to be maintained in tact. Refer to GOVERNMENTAL FUNDS.
PERMANENTLY ASSIGNED VEHICLE - A motor vehicle that has been assigned to a state agency or an individual for a period greater than thirty days.
PERPETUAL INVENTORY - An inventory system whereby the inventory quantities and values for all purchases and issues are recorded directly in the inventory system as they occur.
PERSONAL SERVICE - Professional or technical expertise provided by a consultant to accomplish a specific study, project, task, or other work statement.
PERSONAL SERVICE CONTRACT - An agreement, or any amendment thereto, with a consultant for the rendering of personal services to the state which is consistent with state law. Personal service contracts may render services to state agencies, businesses, providers, other contractors, etc. If, however, services are provided directly to agency clients, the contracts are classified as client service contracts.
PETTY CASH - A sum of money set aside on an imprest basis. Cash held for making change or paying small obligations when the issuance of a formal voucher and warrant/check would be too expensive and time consuming. Petty cash includes both change and imprest accounts. Refer to IMPREST ACCOUNT.
POINT OF SALE - An electronic payment system in a merchant location where consumers pay for retail goods and services, through the use of credit cards or debit cards that directly access and deduct funds from the customer＊s checking account.
POSTING - The process of transferring to a ledger account the data, either detailed or summarized, contained in a book or document of original entry.
PREPAID EXPENSES - Payments made for those supplies and/or services （not inventory） acquired or purchased during an accounting period but not consumed or used at the end of the accounting period.
PRINTING REQUISITION （A21-A） - A form used by agencies to order, encumber, liquidate, and authorize payment for goods and services from the Department of Printing.
PRIVATE-PURPOSE TRUST FUNDS - A fiduciary trust fund type used to report all trust arrangements, other than those properly reported in pension trust funds or investment trust funds, under which principal and income benefit individuals, private organizations, or other governments. The resources held under these arrangements are not available to support the government's own programs. Refer to FIDUCIARY FUNDS.
PRIVATELY OWNED VEHICLE （POV） - A vehicle privately owned, leased, or borrowed by a state driver for which the driver receives or is entitled to receive monetary reimbursement or per diem when the vehicle is used to conduct official state business. The state driver is responsible to maintain vehicle insurance on the POV in compliance with Washington mandatory liability insurance requirements as defined in RCW 46.29 and RCW 46.30. Refer to Subsection 12.40.20
OFFICIAL STATION - The city, town, or other location where the state official or employee's office is located, or the city, town, or location where the state official or employee's work is performed on a permanent basis. For the purposes of these travel regulations, Olympia, Tumwater and Lacey are considered to be the same official station. A state official or employee's official station is to be designated by the agency. It is to be determined by the needs of the agency and not assigned because it is the home or preferred living area of a state official or employee.
OPERATING BUDGET - A plan of current expenditures and the proposed means of financing them. The operating budget is the primary means to ensuring that the financing, acquisition, spending, and service delivery activities of the state are controlled.
OPERATING EXPENSES - Proprietary fund expenses that are directly related to the fund's principal operations.
OPERATING GRANTS - Grants that support all or a portion of current operating expenses within a certain program. Refer to GRANTS and CAPITAL GRANTS.
OPERATING INCOME - The excess of proprietary fund operating revenues over operating expenses.
OPERATING REVENUES - Proprietary fund revenues that are directly related to the fund's principal operations. They consist primarily of user charges for goods and services.
OPERATING STATEMENT - The financial statement disclosing the financial results of operations of a governmental unit during an accounting period in conformity with generally accepted accounting principles （GAAP）.
OPERATING TRANSFERS - All interfund transfers other than equity transfers, e.g., legally authorized transfers from a fund receiving revenue to the fund through which the resources are to be expended. Refer to INTERFUND TRANSFERS.
ORDER NUMBER - The number of the purchasing document used for an acquisition of an asset.
ORGANIZATION OF STATE EMPLOYEES - As relates to contracting for child care services, a group of state employees who affiliate as a non-profit organization under Chapter 24.03 RCW and Section 501（c）（3） of the United States Internal Revenue Code for such purposes or a state employee labor organization.
ORIGINAL BUDGET - The first complete appropriated budget. The original budget may be adjusted by reserves, transfers, allocations, supplemental appropriations, and other legally authorized legislative and executive changes before the beginning of the fiscal year.
ORIGINAL ISSUE DISCOUNT （OID） - The amount by which the par value of a security exceeds its public offering price at the time it was originally offered to an investor.
ORIGINAL ISSUE PREMIUM （OIP） - The amount by which the price paid for a security exceeds the security's par value.
OUT-OF-STATE TRAVEL - Travel anywhere outside the boundaries of the state of Washington is to be coded as out-of-state travel. However, with respect to the requirement for prior authorization of out-of-state travel in Subsection 10.10.50, travel to counties and/or cities in the states of Idaho and Oregon that are contiguous to the border between Washington-Idaho or Washington-Oregon shall not be considered out-of-state.
OUTSIDE CONSULTANT - An independent contractor providing personal services.
OUTSTANDING WARRANT RECORD - A record used to record warrants issued by an agency which are not yet redeemed by the State Treasurer.
OVERHEAD - Those elements of cost necessary in the production of a good or service which are not directly traceable to the product or service. Usually these costs relate to objects of expenditure that do not become an integral part of the finished product or service, such as rent, heat, lights, management, and supervision.
OWNERSHIP STATUS - An indication as to who is responsible for possible claims against the asset by outside parties; e.g., federal government.
PARCEL LOCATION IDENTIFIER （FOR LAND ONLY） - The county assessor's parcel number of the land, or other code used by the agency to specifically identify the location of the land.
PAR VALUE - In the case of bonds, the amount of principal that must be paid at maturity. Par value is referred to as the face value of the security.
PENSION （AND OTHER EMPLOYEE BENEFIT） TRUST FUNDS - A fiduciary fund type used to report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, other post employment benefit plans, or other employee benefit plans. Refer to FIDUCIARY FUNDS.
PER DIEM EXPENSES - Daily travel costs covering both lodging expenses and subsistence expenses while in travel status.
PERFORMANCE AUDIT - A systematic process of objectively obtaining and evaluating evidence regarding the performance of an organization, program, function, or activity. Evaluation is made in terms of its economy and efficiency of operations and effectiveness in achieving desired goals. The performance audit function provides an independent review of management＊s performance and the degree to which actual performance meets pre-stated goals. Refer to AUDIT.
PERIODIC INVENTORY - An inventory system whereby the agency performs a physical count of its inventory periodically, at least annually at fiscal year end.
PERMANENT FUNDS - Permanent funds are used to report resources that are legally restricted to the extent that only earnings, and not principal, may be used for the purposes that benefit the state or it's citizens. Permanent funds include endowments where the funds or property donated to the state are required by contract, agreement or trust instrument to be maintained in tact. Refer to GOVERNMENTAL FUNDS.
PERMANENTLY ASSIGNED VEHICLE - A motor vehicle that has been assigned to a state agency or an individual for a period greater than thirty days.
PERPETUAL INVENTORY - An inventory system whereby the inventory quantities and values for all purchases and issues are recorded directly in the inventory system as they occur.
PERSONAL SERVICE - Professional or technical expertise provided by a consultant to accomplish a specific study, project, task, or other work statement.
PERSONAL SERVICE CONTRACT - An agreement, or any amendment thereto, with a consultant for the rendering of personal services to the state which is consistent with state law. Personal service contracts may render services to state agencies, businesses, providers, other contractors, etc. If, however, services are provided directly to agency clients, the contracts are classified as client service contracts.
PETTY CASH - A sum of money set aside on an imprest basis. Cash held for making change or paying small obligations when the issuance of a formal voucher and warrant/check would be too expensive and time consuming. Petty cash includes both change and imprest accounts. Refer to IMPREST ACCOUNT.
POINT OF SALE - An electronic payment system in a merchant location where consumers pay for retail goods and services, through the use of credit cards or debit cards that directly access and deduct funds from the customer＊s checking account.
POSTING - The process of transferring to a ledger account the data, either detailed or summarized, contained in a book or document of original entry.
PREPAID EXPENSES - Payments made for those supplies and/or services （not inventory） acquired or purchased during an accounting period but not consumed or used at the end of the accounting period.
PRINTING REQUISITION （A21-A） - A form used by agencies to order, encumber, liquidate, and authorize payment for goods and services from the Department of Printing.
PRIVATE-PURPOSE TRUST FUNDS - A fiduciary trust fund type used to report all trust arrangements, other than those properly reported in pension trust funds or investment trust funds, under which principal and income benefit individuals, private organizations, or other governments. The resources held under these arrangements are not available to support the government's own programs. Refer to FIDUCIARY FUNDS.
PRIVATELY OWNED VEHICLE （POV） - A vehicle privately owned, leased, or borrowed by a state driver for which the driver receives or is entitled to receive monetary reimbursement or per diem when the vehicle is used to conduct official state business. The state driver is responsible to maintain vehicle insurance on the POV in compliance with Washington mandatory liability insurance requirements as defined in RCW 46.29 and RCW 46.30. Refer to Subsection 12.40.20