the municipal secretary desktop reference manual - Southwestern ...

frontage-The extent of property along the parcel’s front (street/road) boundary.
functional consolidation-A formal agreement among two or more local governments to
provide a particular service through a single organization, for example libraries and
recreational facilities.
fund balance-The difference between fund assets and fund liabilities of governmental and
similar trust funds.
general fund-The general operating fund of the municipality used to account for all financial
resources except those required to be accounted for in a special fund.
general obligation debt-Created when a municipality backs its borrowings with the
municipality’s full faith, credit and taxing powers.
generally accepted accounting principles (GAAP)-Uniform standards for financial
accounting and reporting. The authoritative body on the application of GAAP to local
governments is the Governmental Accounting Standards Board.
generally accepted auditing standards (GAAS)-Established by the American Institute of
Certified Public Accountants for the conduct and reporting of audits. These standards set
forth the objectives of the audit and establish measures that can be applied to judge the
quality of its performances.
grants-Funds or other assets from another government, which may be classified as either
categorical or block, depending on the amount of discretion allowed the grantee.
hold harmless clause-An agreement by which one party assumes legal liability for another
party.
home occupation-Any use conducted entirely within a dwelling and carried on by the
occupants thereof, which use is clearly incidental and secondary to the use of that dwelling
for residential purposes which does not change the character thereof.
home rule-Exercise of power at the local government level to determine local affairs of
government, upon acceptance of the terms set by the state legislature.
host liquor liability-Insurance to protect a government if its officials (such as Volunteer Fire
Departments) violate liquor laws.
impact fee-Set aside fees collected from developers causing infrastructure adjustments to the
community. Monies to be used as the development further impacts the municipality. (Must
have enabling ordinance enacted to assess them.)
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