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BALANCE SHEET A financial statement that discloses the assets, liabilities, reserves, and balances of a specific
governmental fund as of a specified date.

BOND A written promise to pay a specific sum of money at a specified date or dates in the future, together
with periodic interest at a specified rate. The most common types of bonds are general obligation and
revenue bonds. These bonds are most frequently used for construction of large capital projects such as
streets, drainage, and buildings. The repayment of both the principal and interest are detailed in a
bond ordinance.

BONDED DEBT That portion of indebtedness represented by outstanding bonds.

BOND ORDINANCE An ordinance or resolution adopted by the legislative body that authorizes a bond issue.

BUDGET A financial plan, for a specified period (fiscal year), of operations that matches all planned revenues
and expenditures with services provided to the residents of the City.

BUDGET ADJUSTMENT A procedure, established by the City Charter, used to revise a budget amount after the budget has been
adopted by the City Council.

BUDGET CALENDAR The schedule of key dates which the City Staff follows in the preparation, adoption, and administration
of the budget.

BUDGET DOCUMENT The instrument used by the budget-making authority to present a comprehensive financial plan of
operations to the City Council.

BUDGET MESSAGE The opening section of the budget document that provides the City Council and the public with a summary
of the most important aspects of the budget, changes from prior years, and views and recommendations
of the City Manager.

BUDGET ORDINANCE The official enactment, by the City Council, to authorize legally the City Staff to obligate and expend
the resources of the City.

BUDGETARY CONTROL The control or 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
revenue.

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