Account Servicing: Monitoring the status of accounts of indebtedness, monitoring records of current debts, billing for amounts due, collecting amounts due, handling debtor correspondence, performing follow-up functions, and providing accurate reporting of debt portfolios.
Accrue: Process of increasing account value, usually associated with interest or other time-related increases in account value.
Administrative Costs/Charges: Additional costs incurred in processing and handling a debt because it has become delinquent. Costs should be based on actual costs incurred or cost analyses which estimate the average of actual additional costs incurred for particular types of debt at similar stages of delinquency. Administrative costs should be accrued and assessed from the date of delinquency. (See "Delinquency.")
Administrative Offset: Withholding money payable by the federal government to a person or held by the government for a person or entity in order to satisfy a debt that the person or entity owes the government.
Advance Construction: States or local governments independently raise upfront capital required for a federally approved project and preserve eligibility for future federal-aid reimbursement for that project. At a later date, the state can obligate federal-aid highway funds for reimbursement of the federal share. This tool allows states to take advantage of access to a variety of capital sources, including its own funds, local funds, anticipation notes, revenue bonds, bank loans, etc., to speed project completion.
Allowance for Uncollectible Accounts: Account established to reduce receivables for estimates of uncollectible amounts to reflect the assets at their net realizable value.
Amortization: Provision made in advance for the gradual reduction of an amount owed over time.
Appraisal: Formal valuation of property, made by a competent authority.
Asset: Any item of economic value, either physical in nature (such as land) or a right to ownership, expressed in cost or some other value, which an individual or entity owns. |
