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Simple English definitions for legal terms
specific appropriation
Read a random definition: latent equity
A quick definition of specific appropriation:
A specific appropriation is when a group of people in charge of money decide to set aside a certain amount of money for a specific purpose. This money is then used only for that purpose. It's like putting money in a piggy bank labeled for a certain thing, and only using that money for that thing.
A more thorough explanation:
Definition: Specific appropriation is when a legislative body sets aside a certain amount of money for a particular public purpose.
For example, if a city council decides to allocate $50,000 for the construction of a new playground in a specific park, that would be a specific appropriation. The money is earmarked for that specific purpose and cannot be used for anything else.
Another example of specific appropriation is when a state government allocates funds for a specific program, such as education or healthcare. The money is set aside for that program and cannot be used for other purposes.
Overall, specific appropriation is a way for governments to ensure that money is being used for the intended purpose and to prevent misuse or misallocation of funds.