Page 428 - FY 2026-2027 Adopted Budget Book

XVI. Glossary of Terms money as payment for the securities
AGENCIES: Investments offered through executed through a third party safekeeping
Federal Agencies. agent.

ASKED: The price at which securities are DISCOUNT: The difference between the
purchase price of a security and its face
value at maturity when purchase price is
offered. BANKERS' ACCEPTANCE (BA): A
less than face value.
draft, bill, or
exchange accepted by a bank or trust
company. The
accepting institution guarantees payment
of the bill, as well as the issuer.

BID: The price offered by a buyer of
securities.

BROKER: A broker brings buyers and
sellers together for a commission.

CERTIFICATE OF DEPOSIT (CD): A
time
deposit with a specific maturity evidenced
by a certificate.

COLLATERAL: Securities, letters of credit,
or other properties pledged to secure
deposits of public monies.

ANNUAL FINANCIAL REPORT: The official
annual report for the City. It includes
combined statements for each individual
fund and account group prepared in
conformity with GAAP. It also includes
supporting schedules necessary to
demonstrate compliance with finance
related legal and contractual provisions,
extensive introductory materia l, and a
detailed Statistical Section.

COUPON: The annual rate of interest that an
issuer promises to pay the debtholder on
the debt's face value. Usually paid semi -
annually.

DEALER: A dealer acts as a principal in all
transactions, buying and selling for his own
account.

DEBENTURE: An unsecured bond or debt.

DELIVERY VERSUS PAYMENT: Delivery
versus payment is delivery of purchased
securities with a simultaneous exchange of