For purposes of this part, unless otherwise required by the context, the following definitions apply:

1. (1) “Appropriation” means a legislative act authorizing the expenditure of a designated amount of public funds for a specific purpose;
2. (2) “Biennium” shall mean a two-year period beginning the first of July immediately following the conclusion of the regularly scheduled Arkansas legislative session;
3. (3) “Compliance audit” means an audit conducted to determine whether the use of funds was in compliance with the appropriated purposes of the General Assembly;
4. (4) “Development and Enhancement Fund” consists of monies set aside by the General Assembly to be used for financing improvement projects;
5. (5) “Disbursing officer for the Department of Finance and Administration” means the Secretary of the Department of Finance and Administration;
6. (6) “Executive discretionary division projects” consists of the projects approved for funding from the Development and Enhancement Fund for which the Governor shall authorize release of monies to fund such projects, subject to availability of funds in the State Treasury;
7. (7) “Fund recipient” means any entity, organization, institution, city or municipality, department, or agency approved by the General Assembly to receive appropriated funds through the Development and Enhancement Fund;
8. (8) “Legislative division projects” consists of the projects approved for funding from the Development and Enhancement Fund other than the projects listed as executive discretionary division projects;
9. (9) “Maintenance” means to support, preserve, sustain, and keep in a given existing condition of efficiency or state of repair;
10. (10) “Matching funds” means the monies equal to or exceeding appropriated funds through sources outside of the appropriations creating the original funds, such as through federal matching funds and private donations; and

11. (11) “Method of finance” means a written summary statement setting forth:

    1. (A) A general description of a proposed project;
    2. (B) Its estimated overall costs;
    3. (C) Its estimated commencement and completion dates; and
    4. (D) The method proposed to finance its costs.