Finance Chapter 9 Homework City Departments on Cost reimbursement Basis Eg Risk Management Fund Fleet Management trust Funds These

Unlock access to all the studying documents.

View Full Document

FY2009/10 Approved Budget

298

FY2009/10 Approved Budget

299

SECTION – 29

GLOSSARY

FY2009/10 Approved Budget

300

FY2009/10 Approved Budget

301

GLOSSARY

Account – The primary accounting field in the budget used to describe the type of the financial

transaction

Actual – Actual level of expenditures/FTE positions approved for fiscal year noted.

Approved Budget – Includes the following documents:

(1) Approved Operating Budget as amended by the City Council and reflected in the

summary of augmentations (Exhibit 1), the summary of changes to the approved

operating and capital improvement program budgets (Exhibit 2), as well as

administrative and technical changes necessary to implement City Council direction;

and

Beginning/Ending Fund Balance – Unencumbered resources available in a fund from the

prior/current year after payment of the prior/current year’s expenses. Not necessarily cash on hand.

(See definition of “Fund Balance.”)

Budget – An annual financial plan consisting of expenditures for specified purposes and the means of

financing them.

Department – “Department” or “Operating Unit” refers to Mayor and City Council; City Manager; City

Attorney; City Clerk; City Treasurer; Code Enforcement; Convention, Culture & Leisure; Community

Development; Economic Development; Finance; Fire; General Services; Human Resources;

FY2009/10 Approved Budget

302

Information Technology; Labor Relations; Neighborhood Services; Parks & Recreation; Police;

Transportation; Utilities; Capital Improvement; Debt Service; Non-Department and Reserves.

Dept ID – A sub-unit of an Operating Unit.

Employee Services – The personnel costs of a City program, including wage/salary, direct and

indirect benefits such as health insurance, social security costs, retirement contribution, workers’

compensation, unemployment insurance, etc.

Enterprise – A governmental facility or service that is self-supporting through fee and charge revenue.

Expenditure/Requirement – The actual spending of funds authorized by an appropriation.

Expenditures are divided into the following classes of individual line items:

 Employee Services

 Services and Supplies

Externally Funded Program – Program revenues provided by external agencies which are restricted

to a specified purpose.

Fiscal Year – July 1 through June 30.

Full Time Equivalent (FTE) – The decimal equivalent of a part-time position converted to a full-time

basis, i.e., one person working half time would count as 0.5 FTE.

Fund – A separate, independent accounting entity with its own assets, liabilities and fund balance.

FY2009/10 Approved Budget

303

 Internal Service Funds (ISF) – These funds are used to provide services to all City departments

on a cost-reimbursement basis, e.g., Risk Management Fund, Fleet Management.

 Trust Funds – These funds are used to account for assets and activities restricted to a specific

purpose in accordance with a trust agreement, e.g., Ethel MacLeod Hart Trust Fund.

Fund Balance – The difference between the assets and the liabilities of a fund.

Funded FTE – A City Council authorized FTE position with an associated labor budget.

 Discretionary – That portion of the General Fund for which there are no restrictions on the use

of the fees or taxes collected.

 Non-discretionary – Expenditure of revenues which are collected by users of a program to offset

the cost of the program. State law requires that fees charged cannot exceed the cost of the

service.

Grant – Program revenues provided by external agencies, which are restricted to a specific purpose,

have a time limit for use, and frequently are reimbursed after incurring eligible costs.

Internal Service Fund (ISF) Transfer – A transfer from operating funds to an ISF, i.e., Risk

Management or Fleet Management. An ISF provides services to all City departments and bills the

various other funds for services rendered. ISF’s are self-supporting. Only the expenditure by the ISF is

counted in budget totals; the internal transfer from the department to the ISF is excluded to avoid

double-counting expenditures.

Non-department – Program costs that do not relate to any one department, but represent costs of a

general, citywide nature, i.e., debt service.

Resources – Total amounts available for appropriation during the fiscal year, including revenues, fund

transfers and beginning fund balances.

FY2009/10 Approved Budget

304

Revenues – Amounts received from seven categories of revenue.

 Taxes – Revenue including sales tax, property tax, utility user tax, etc., collected to fund general

operating City programs

 Charges for fees and services – Fees charged to the user of any specific service provided by

the City not supported by the General Fund. The fee cannot exceed the cost of providing the

Revenues can also be classified as operating or non-operating in the Enterprise activities. Operating

revenues are those revenues directly related to the fund’s primary service activity and consist primarily

of user fees and charges. Non-operating revenues are incidental to, or by-products of the Enterprise’s

primary service, such as interest income or the Transient Occupancy Tax for the Community Center

Fund.

Services and Supplies – Costs of contractual or outside services, office supplies, and equipment.

Variance – Change in expenditures/staffing levels.

FY2009/10 Approved Budget

305

SECTION – 30

RESOLUTIONS

FY2009/10 Approved Budget

306

307

308

309

310

311

312

313

314

315

316

317