Page 308 - Mansfieldr FY20 Approved Budget

Infrastructure The underlying foundation or basic framework of the City
including land, buildings, streets and utilities, that tends to be
permanent or have a multi-year life.

Inventory A detailed listing of property currently held by the government.

Invoice A bill requesting payment for goods or services by a vendor or
other governmental unit.

Levy To impose taxes, special assessments, or service charges for the
support of City activities.

Line-Item Budget A budget that lists each expenditure category separately (salary,
materials, telephone service, travel, etc.), along with the dollar
amount budgeted for each specified category.

Major Funds All funds including General, Enterprise, Special Revenue, and
Capital Funds.

Merit Incentive A salary or benefit adjustment based on an employee’s overall
job performance that would warrant a salary or benefit increase.

Modified Accrual A basis of accounting in which expenditures are accrued but
Accounting revenues are accounted for a cash basis. This accounting
technique is a combination of cash and accrual accounting since
expenditures are immediately incurred as a liability while
revenues are not recorded until they are actually received or are
"measurable" and "available for expenditure." Since this type of
accounting basis is a conservative financial approach, it is
recommended as the standard for most governmental funds.

Object Code An expenditure category, such as salaries, supplies, or vehicles.

Operating Budget The portion of the budget that pertains to daily operations that
provides basic governmental services. The operating budget
contains appropriations for such expenditures as personnel,
supplies, utilities, materials, travel and fuel.

Operating Fund A fund restricted to a fiscal budget year.

Performance Budget A budget that focuses upon activities rather than line items.
Work load and unit cost data are collected in order to assess the
efficiency of services. Typical data collected might include
miles of streets paved per year, cost of paved streets per mile,
tons of garbage collected per man hour, or cost per man hour of
garbage collection.

Performance Measures Specific quantitative and qualitative measures of work
performed as an objective of the department.

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