2004 Performance Based Budget - Laserfiche WebLink

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Capital Project Projects involving the purchase or construction of capital assets. Often a capital project encompasses the purchase of land and the construction of a building or facility, or major street construction or reconstruction. Design, engineering or architectural fees are often a part of a capital project. Capital Projects Fund A fund created to account for financial resources and the payment of the acquisition or construction of capital assets such as public facilities,. streets, etc. Capital Outlay/Assets Assets of significant value and having a useful life of several years. Capital assets are also referred to as fixed assets. Capital Improvement An annual, updated plan of capital expenditures for public program facilities and infrastructure (buildings, streets, etc.) with estimated costs, sources of funding and timing of work over a multiple period. CBD Central Business District is one of the project areas within the South Bend Central Development Area (SBCDA). The CBD is the historic commercial heart of the community and a priority redevelopment project area. CABG Community Development Block Grant. COIT County Option Income Tax. Contractual Services Expenses that are usually incurred by entering into a formal agreement or contract with another party. Expenses in this category can include utilities, insurance, repairs, professional fees, or services. Debt Service Payment of principal and interest related to long-term debt. Debt Service Fund A fund established to account for the accumulation of resources for, and the payment of, general long~tern debt principal and interest. Depreciation Expiration in the service life of fixed assets, attributable to wear and tear, deterioration, action of the physical elements inadequacy and obsolescence. Designated Fund Balance That portion of the fund balance that has been set aside for a specific purpose by the City Council. E-2