Definition of Terms.
Section 3
Sec. 3. Definition of Terms. —When used in this Act: a. The term "Budget" means the budget required by Section Sixteen (16), Article VIII of the Constitution, and which is referred to in Section Seven of this Act. b. The term "Government" means the National Government, including government-owned or controlled corporations and their subsidiaries, and local governments. c. The terms "department and agency" and "department or agency" mean any department, bureau, office, board, commission, court, tribunal, council, authority, administration, center, institution, state college or university, or any establishment and instrumentality of the National Government as defined in the preceding paragraph. d. The term "current operating expenditures" refers to appropriations spent for the purchase of goods and services for current consumption or within the fiscal year, including the acquisition of furniture and equipment usually used in the conduct of normal government operations, and temporary construction used for promotional and research purposes. c. The term "capital outlays" or "capital expenditures" refers to the purchase of goods and services of longer life-expectancy extending beyond the fiscal year and which add to the assets of the Government, including investments and the capital of government-owned or controlled corporations and their subsidiaries. f. The term "expected results" means services, products or benefits that will accrue to the public, together with the estimated unit cost of each type of service, product or benefit. g. Government-owned or controlled corporations are corporations created by law as agencies of the State for narrow and limited purposes, either owned wholly by the State or wherein the government is a majority stockholder."