Princeton Financial Glossary - M

Maintenance

The regular activity needed to keep equipment in normal or expected operating condition; maintenance is not a capital cost

Manual/Handbook

A comprehensive reference book specific to a topic. Normally, its audiences are beginners as well as practitioners. A manual or handbook details its subject, provides step-by-step guidance for required actions, explains how to put the information into practice, and instructs how to solve problems as they occur.

Market Value

Market value is the current value of an invested fund. The market value of a fund in the primary pool is the per-unit market value of the investments held in the primary pool multiplied by the number of equity units held in the fund. Market value reflects the appreciation or depreciation of a fund's pro-rata share of the value of investments held in the primary pool.

Matching

Matching ensures that orders for goods or services correspond to the vendor invoice so that payment may be issued. Two-way matching is used for low-dollar, low-risk transactions. Purchase orders of $2,500 or less for goods do not require receiving by the department in PeopleSoft Financials. If the invoice received by accounts payable matches the purchase order, payment will be issued. Three-way matching is used for higher-dollar transactions. Purchase orders for services for any amount or for goods above $2,500 require receiving by the department in PeopleSoft Financials. The purchase order, invoice, and receipt must match in order for payment to be issued to the vendor.

Matching Gifts

A matching gift is a gift that supplements and is contingent upon an underlying gift being made by a donor. Often an employer will have a matching gift program for employees.

Medicare

A federal hospital insurance program for individuals 65 or older and some disabled persons. It is funded through the hospital insurance component of FICA. Employers and employees pay matching amounts and there is no annual wage limit.

Merchant Account

A merchant account enables a department to process credit card transactions.

Minimum Wage

The lowest hourly amount an employer can pay employees under federal or state law.

Mobile communication device

A communication device that is portable and designed to be carried by a person to carry out business communication activities. Mobile communication devices items include but are not limited to cell phones, smart phones, Blackberries, iPhones, iPads, Droid, hands-free devices, etc.

Month to date (MTD)

Financial activity from the beginning of the month through the end of the month for the specified fiscal year and accounting period.

Motor Vehicle Record

A driver’s motor vehicle record (MVR) provides driving history information including insurance lapses, license suspensions, revocations, accidents, traffic violations, and unpaid, or unanswered summons. The MVR report can flag Driving Under the Influence (DWI or DUI) charges and other potential substance abuse problems.


 

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