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Expenditure/Expenses

The outflow of funds paid or to be paid for assets obtained or goods and services obtained regardless of when the expense is actually paid. An expenditure
decreases fund balance.

Fiscal Year

The time period designated by the City signifying the beginning and ending period for the recording of financial transactions. The City's fiscal year is October 1
through September 30.

Franchise Fees (Taxes)

A fee (tax) paid by a public utility for the use of public property in providing their services to the residents of the City. The fee is typically calculated as a % of the
utility's gross receipts.

Full-Time Equivalent (FTE)

A position for an employee working a 40-hour work week for 52 weeks a year. Based on 2,080 annual hours or 2,912 for firefighters.

Fluid

A fiscal and accounting entity established to record receipt and disbursement of income from sources set aside to support specific activities or to attain certain
objectives. Each fund is treated as a distinct fiscal entity where assets equal liabilities plus fund balances.

Fund Balance

Unless stated otherwise, the excess of a fund's current assets over its current liabilities; sometimes called working capital in enterprise funds.

General Fund

The fund used to account for financial resources except those funds required to be accounted for in another fund; the general fund is tax supported and includes
the operations of most City services, i.e., police, fire, streets, parks and recreation, and administration.

General Obligation

Money owed on interest and principal to holders of the City's obligation bonds. The debt is supported by revenues provided from real property that is assessed
through the taxation power of the City

Generally Accepted Accounting Principles (GAAP)

Uniform minimum standards and guidelines for financial accounting and reporting.

Goal

A broad, general statement of each department's or division's desired social or organizational outcomes.

Governmental Funds

Funds generally used to account for tax-supported activities. The acquisition, use and financial resources and the related current liabilities are accounted for
through governmental funds (General, Special Revenue, Capital Projects, and Debt Service.

Grant

A contribution by a government or other organization to support a particular function. Typically, these contributions are made to local governments from state or
federal governments.

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