Page 386 - FY 2021-22 ADOPTED BUDGET

GENERAL FUND The fund used to account for all financial resources except
those required to be accounted for in one of the City's other
special purpose funds.

GENERAL LEDGER A file that contains a listing of various accounts necessary to
reflect the financial position and results of operation of the
government.

GENERAL Bonds that finance a variety of public improvement projects
OBLIGATION which pledge the "Full Faith and Credit" of the City for their
BONDS repayment.

GRANTS Contributions or gifts of cash or other assets from another
government or organization to be used or expended for a
specific purpose, activity, or facility. Grants may be classified
as either categorical or block depending upon the amount of
discretion allowed the grantee.

INTERFUND Amounts transferred from one fund to another.
TRANSFERS
INVENTORY A detailed listing of property currently held by the
government that shows quantities, descriptions, and values
of the property as well as units of measure and unit price.

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 (salary,
supplies, travel, repairs, etc.) separately, along with the dollar
amount budgeted for each specific category.

LONG-TERM DEBT Debt with a maturity of more than one year after the date of
issuance.

MODIFIED ACCRUAL A basis of accounting in which expenditures are accrued but
revenues are accounted

ACCOUNTING for on a cash basis. This accounting technique is a
combination of cash and accrual accounting since

279