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the legislative body's appropriations. A performance audit
consists of a review of how well the government met its
stated goals.

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 A procedure, established by the City Charter, used to revise a
ADJUSTMENT 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.
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