Page 379 - FY 2023-24 ADOPTED BUDGET

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 The control or management of a governmental unit or
CONTROL enterprise in accordance with an approved budget for the
purpose of keeping expenditures within the limitations of
available appropriations and available revenue.

BUDGETED AMOUNT An authorization made by the City Council which permits the
City to incur obligations and to make expenditures of
resources.

BUDGETED FUNDS Funds that are planned for certain uses but have not been
formally or legally appropriated by the legislative body. The
Budget Document that is submitted for City Council approval
is comprised of budgeted funds.

CAPITAL ASSET A fund established by the City Council to finance major
equipment purchases over several years rather that during
one budget year.

REPLACEMENT A long-range plan for providing the capital outlays necessary
CAPITAL to ensure that adequate services are provided to the
IMPROVEMENT residents of the City. The plan includes improvements to or
PROGRAM the acquisition of structural improvements and major
equipment purchases.

CAPITAL A separate budget document that lists, in detail, each Capital
IMPROVEMENT Improvement Program along with the proposed method of
REPORT financing the program and the year the project is undertaken.

CAPITAL PROJECTS A fund created to account for the financial resources to be
FUND used for the acquisition of or the construction of major
capital facilities or equipment.

CAPITAL OUTLAY An expenditure which results in the acquisition or addition to
fixed assets.

CASH ACCOUNTING A basis of accounting in which transactions are recorded
when cash is either received or expended.

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