Page 347 - FY 2026-2027 Adopted Budget Book

assets include land and land improvements; infrastructure such as roads, bridges, water and sewer lines;
easements; buildings and building improvements; vehicles, machinery and equipment. Communities typically
define capital assets in terms of a minimum useful life and a minimum initial cost.

Capital Budget: An appropriation or spending plan that uses borrowing or direct outlay for capital asset
improvements. Among other information, a capital budget should identify the method of financing each
recommended expenditure, i.e., tax levy or rates, and identify those items that were not recommended. (See
Capital Assets)

Capital Outlay: An expenditure that results in the acquisition of, or addition to, capital assets, and meets
these criteria: has an anticipated useful life of more than one year; can be permanently identified as an
individual unit of property; belongs to one of the following categories: Land, Buildings, Equipment and
Vehicles; constitutes a tangible, permanent addition to the value of City assets; cost generally exceeds at least
$1,000; does not constitute repair or maintenance; and, is not readily susceptible to loss.

Capital Project Funds: The capital project funds are used to account for the acquisition or construction of
capital facilities being financed from general obligations or certificate of obligation bond proceeds, grants, or
transfers from other funds.

Cash: Currency, coin, checks, postal and express money orders and bankers’ drafts on hand or on deposit
with an official or agent designated as custodian of cash and bank deposits.

Cash Management: The process of monitoring the ebb and flow of money in an out of municipal accounts to
ensure cash availability to pay bills and to facilitate decisions on the need for short- term borrowing and
investment of idle cash.

Certificate of Deposit (CD): A bank deposit evidenced by a negotiable or non-negotiable instrument, which
provides on its face that the amount of such deposit plus a specified interest payable to a bearer or to any
specified person on a certain specified date, at the expiration of a certain specified time, or upon notice in
writing.

Certificates of Obligation (C.O.): Tax supported bonds that are similar to general obligation bonds and can
be issued after meeting strict publication requirements and with final approval by the City Council.

City Charter: The document of a home rule City which establishes the City's government structure and
provides for the distribution of duties and powers among the various branches of government.

City Council: The Mayor and six Council members collectively acting as the legislative and policymaking
body of the City.

Consumer Price Index: The statistical measure of changes, if any, in the overall price level of consumer
goods and services. The index is often called the "cost-of-living index."

Cost-Benefit Analysis: A decision-making tool that allows a comparison of options based on the level of
benefit derived and the cost to achieve the benefit from different alternatives.

Current Taxes: Taxes levied and due within one year.

Debt Burden: The amount of debt carried by an issuer usually expressed as a measure of value (i.e., debt as
a percentage of assessed value, debt per capita, etc.). Sometimes debt burden refers to debt service costs as
a percentage of the total annual budget.

Debt Service: The repayment cost, usually stated in annual terms and based on an amortization schedule, of
the principal and interest on any particular bond issue.

FY 2026-2027 Adopted Budget Book · September 15, 2026 343