Page 289 - CityofMansfieldFY24Budget

Cash Accounting A basis of accounting in which transactions are recorded when
cash is either received or expended for goods and services.

Cash Management The management of cash necessary to pay for government
services while investing temporary cash excesses in order to
earn interest revenue. Cash management refers to the activities
of forecasting the inflows and outflows of cash, mobilizing cash
to improve its availability for investment, establishing and
maintaining banking relationships, and investing funds in order
to achieve the highest interest and return available for temporary
cash balances.

Certificates of Obligation Similar to general obligation bonds except the certificates do not
require voter approval.

Contingency An appropriation of funds to cover unforeseen events and
emergencies which may occur during the budget period.

Contractual Services Costs related to services performed for the City by individuals,
businesses or utilities.

Current Taxes Taxes that are levied and due within one year.

Debt Services The City’s obligation to pay the principal and interest of all
bonds and other debt instruments to a pre-determined payment
schedule.

Delinquent Taxes Taxes that remain unpaid on and after the date on which a
penalty for non-payment is attached.

Department Purpose The primary reason for the existence of a specific department is
explained through the departmental purpose statement.

Depreciation The process of estimating and recording the lost usefulness,
expired useful life or diminution of service from a fixed asset
that cannot or will not be restored by repair and will be replaced.
The cost of the fixed asset’s lost usefulness is the depreciation or
the cost to reserve in order to replace the item at the end of its
useful life.

Development Fees Fees charged by the City to developers or individuals to recover
the cost of services provided by the City.

Disbursement Payment for goods and services in cash or by check.

Donations A gift to the City that may be either monetary or non-monetary.

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