Page 288 - CityofMansfieldFY24Budget

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
composed of budgeted funds.

Budget Message The opening section of the budget which provides City Council
and the public with a general summary of the most important
aspects of the budget, changes from the current and previous
fiscal years, and recommendations of the City Manager.

Budgetary Control The control of 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 revenues.

Capital Asset Relatively expensive improvements that are non-recurring, have
a multi-year useful life and that result in fixed assets. Capital
may include equipment, streets, utilities, land and buildings.

Capital Equipment Budget The portion of the annual operating budget that appropriates
funds for the purchase of capital equipment items. These
expenditures are often separated from regular operating items,
such as salaries, utilities and office supplies. The Capital
Equipment Budget includes funds for capital equipment
purchases, such as typewriters, vehicles, furniture, machinery,
building improvements, microcomputers and special tools,
which are usually distinguished from operating items according
to their value and projected useful life. The dollar varies
according to the policy established by each jurisdiction.

Capital Improvement A plan for capital expenditures to provide long-lasting physical
Program improvements to be incurred over a fixed period of several
future years.

Capital Improvement A Capital Improvement Program (CIP) Budget is a separate
Program Budget budget from the operating budget. Items in the CIP are usually
construction projects designed to improve the value of the
government assets. Examples of capital improvement projects
include new roads, sewer lines, buildings, recreational facilities
and large-scale remodeling.

Capital Leases A contract by which the City purchases equipment for a
specified term for a specified rent.

Capital Outlays Expenditures which result in the acquisition of or addition to the
City’s fixed assets. The City’s capitalization threshold is $5000
per item.

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