2004 Performance Based Budget - Laserfiche WebLink

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GLOSSARY A/C L-P Bond Redevelopment Authority /Commission Lease-Purchase Bond. AEDA Airport Economic Development Area (also known as the Blackthorn Development Area). Accrual Basis The basis of accounting under which revenues and expenses are recognized when they occur, rather than when collected or paid. Administration Charges Allocates the cost of general administrative departments which are required to manage the City and which provide support to all funds. Appropriation Authorization by the city council or town council by ordinance to make disbursements or to incur obligations for specific purposes. An appropriation may be accomplished by budget enactment or by subsequent modification of the budget by emergency appropriation. The source or moneys to finance the disbursement should always be stated in the appropriation ordinance. Assessed Valuation Basis for determining property taxes. Assessor determines assessed valuation of residential real property, actual valuation for commercial and industrial property. Authority A government or public agency created to perform a single function or a restricted group of related activities. An authority may be completely independent of other governments or partially dependent upon other governments for its creation, its financing, or the exercise of certain powers. Example: Redevelopment Authority. Bond Written promise to pay specified sum of money, called the face value or principal, at a specified date or dates in the future, called the maturity date(s), together with periodic interest at a specified rate. Budget Plan of financial operation, embodying an estimate of proposed expenditures for a given period and the proposed revenue estimates of financing them. Upon approval by Council, the budget appropriation ordinance is the legal basis for expenditures in the budget year. E-1