Page 326 - GFOA Draft 2

OPTICOM: A system that allows emergency vehicles the right of way through intersections equipped
with the Opticom device by overriding the traffic signal system and providing the approaching emergency
vehicle with a green light so it can pass safely through the intersection.

ORDINANCE: A formal legislative enactment by the governing board of a municipality. If it is not in
conflict with any higher form of law, such as a state statute or constitutional provision, it has the full force
and effect of law within the boundaries of the municipality to which it applies. The difference between an
ordinance and resolution is that the latter requires less legal formality and has a lower legal status.
Revenue raising measures, such as the imposition of taxes, special assessments and service charges,
universally require ordinances.

OVERLAPPING DEBT: The proportionate share of the debts of local governments located wholly or in
part within the limits of the reporting government which must be borne by property owners within each
government.

PEAK HOUR DEMAND: The maximum total one-hour water demand given in units of volume per day
that a given distribution system experienced or would experience during a particular year or other time
period. Also known as maximum hour demand.

PERSONAL SERVICES: The costs associated with compensating employees for their labor.

POLICE EXPENDABLE TRUST FUND: Fund used to account for the sale of confiscated property.

PROFESSIONAL STANDARDS LIEUTENANT: This supervisor will be assigned to the Office of the
Chief, with responsibility for the recruiting, testing, and background investigations of new personnel,
internal affairs investigations, training (as the Department training coordinator), fleet manager, building
management and quartermaster. This position does not recommend punishment or serve in the chain
of command of other departments, but would be in place to ensure that investigations are conducted
equitably, in accordance with city and legal requirements.

PROPERTY TAX: Property taxes are levied on both real and personal property according to the
property's valuation and the tax rate.

PUBLIC SERVICE OFFICER (PSO): The PSO serves as a detention officer, relief dispatcher, Intoxilyzer
operator, and is available to take walk-in and telephone reports from the public. The PSO works during
business days to handle paperwork for arraignments and processing of prisoners, as well as providing
assistance to the Municipal Court Judge.

PURCHASE ORDER: A document that authorizes the delivery of specified merchandise or the rendering
of certain services and the making of a charge for them.

RECONCILIATION: A detailed summary of increases and decreases in the expenditures/expenses from
one budget year to the next.

REFUNDING BONDS: A procedure whereby an issuer refinances an outstanding bond issue by issuing
new bonds. The proceeds of the new bonds are either deposited in escrow to pay the debt service on
the outstanding obligations, when due, or they are used to immediately retire the outstanding obligations
being refinanced. These are referred to as the "refunded bonds" or the "prior issue".

RESERVE: An account used to indicate that a portion of a fund balance is restricted for a specific
purpose.
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