Page 276 - Saginaw FY20 Annual Budget

ENTERPRISE FUND: A fund established to account for operations (a) that are financed and operated
in a manner similar to private business enterprises where the intent of the governing body is that the
costs (expenses, including depreciation) for providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges or (b) where the governing
body has decided that this fund is used to account for operations of the water distribution and sanitary
wastewater systems.

EMERGENCY PROTECTIVE ORDER (EPO): Magistrate's Order for Emergency Protection commonly
referred to as EPO. A Magistrate's Order for Emergency Protection is an emergency order protecting;
the victim, the victim's children, and any other family members; from further domestic violence.

ESTIMATED REVENUE: The amount of projected revenues to be collected during the fiscal year.

EXEMPT: Personnel not eligible to receive overtime pay and who are expected to put in whatever hours
are necessary to complete their job assignments. The respective department head, as partial
compensation for overtime hours worked by exempt personnel, may allow compensatory time off.

EXPENDITURE CLASSIFICATION: A basis for distinguishing types of expenditures. The major
classifications used by the City are Personnel, Operations, Capital Outlay, and Debt Service.

EXPENDITURES: A decrease in the net financial resources of the City due to the acquisition of goods
and services.

FIRE ACT GRANTS: These are grants issued by the Homeland Security Department. This program is
a competitive grant process open to all paid, volunteer, or combination Fire Departments. There are
several categories of grants available such as: Fire and EMS Operations, Firefighter Safety, Firefighting
and EMS Vehicles, Personal Protective Equipment category to purchase “turnout gear” and Training to
learn basic firefighting techniques.

FIRM PUMPING CAPACITY: The total pumping capacity that a pump station can deliver with the largest
pump out of service. The state requires that water systems have firm capacity that meets peak day
requirements.

FISCAL YEAR: A 12-month period to which the annual operating budget applies. The City of Saginaw
has established October 1 through September 30 as its fiscal year.

FIXED ASSETS: Assets of a long-term character that are intended to continue to be held or used.
Examples of fixed assets include items such as land, buildings, machinery, furniture, and other
equipment.

FRANCHISE TAX: This is a charge paid for the use of City streets and public right of way and is in lieu
of all other municipal charges, fees, street rentals, pipe taxes or rentals, easement or other like franchise
taxes, inspections fees, and/or charges of every kind except ad valorem and special assessment taxes
for public improvements (electric, gas, telephone, and cable TV).

FULL-TIME EQUIVALENT (FTE): The number of hours part-time employees work is added together
and then divided by the number of hours a full-time employee works. The result is the number of full-
time equivalent employees.

FULL FAITH AND CREDIT: A pledge of the general taxing power of a government to repay debt
obligations. (The term is typically used in reference to general obligation bonds.)

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