Page 303 - Mansfieldr FY20 Approved Budget

Budget A financial plan for a specified period of time (fiscal year) that
matches all planned revenues and expenditures with various
municipal services.

Budget Basis A basis of budgeting general government type funds prepared on
a modified accrual basis. The obligations of the City are
budgeted as expenditures, but revenues are recognized only
when they are measurable and available.

Budget Amendment A legal procedure utilized by the City staff and City Council to
revise a budget appropriation. The City of Mansfield's Charter
requires City Council approval through the adoption of a
supplemental appropriation ordinance (which specifies both the
source of revenue and the appropriate expenditures account) for
any inter-fund adjustments. City staff has the prerogative to
adjust expenditures within a departmental budget.

Budget Calendar The schedule of key dates or milestones which the City
departments follow in the preparation, adoption, and
administration of the budget.

Budget Document The instrument used by the budget-making authority to present a
comprehensive financial program to the City Council.

Budgeted Funds Funds that are planned for certain uses but have not been
formally or legally appropriated by the legislative body. The
budget document that is submitted for City Council approval is
composed of budgeted funds.

Budget Message The opening section of the budget which provides the City
Council and the public with a general summary of the most
important aspects of the budget, changes from the current and
previous fiscal years, and the views and recommendations of the
City Manager.

Budgetary Control The control of management of a governmental unit or enterprise
in accordance with an approved budget for the purpose of
keeping expenditures within the limitations of available
appropriations and available revenues.

Capital Relatively expensive improvements that are non-recurring, have
a multi-year useful life and that result in fixed assets. Capital
may include equipment, streets, utilities, land and buildings.

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