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Budget Surplus
Amount by which revenue
exceeds expenses during a set period of time.
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Labor Surplus Area (LSA)
A civil jurisdiction that
has a civilian average annual unemployment
rate during the previous two calendar years of
20% or more above the average annual
civilian unemployment rate for all states
(including Puerto Rico) during the same 24-
month reference period. The Administrator for
Federal Procurement Policy uses the states
on the LSA list to identify where procurement
set asides should be used to strengthen the
national economy. The Small Business
Administration uses the LSA list for bid
selections for small business awards in
Historically Underutilized Business Zones
(HUBZones). (United States Department of
Labor, Employment and Training
Administration, Office of Adult Services, Labor
Surplus Area online)
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Surplus
1. An overstock situation that occurs when the
quantity of goods on hand exceeds the
quantity of goods needed. The overstocked
goods may be returned to the supplier, sold at
auction, or disposed of in a method
acceptable to the entity.
2. The goods or materials that are obsolete or no
longer needed by the agency and are
designated for disposal. Surplus becomes
available for disposal outside of the entity due
to an unforeseen situation that affects the
use of the item (for example, chairs or desks
that have been replaced with new items).
See also: Obsolete Supplies/Equipment.
