2012 Budget - South Suburban Parks and Recreation

South Suburban Park and Recreation District
Glossary
Levy (noun) – The total amount of taxes, special assessments or service charges imposed by
a governmental unit.
Local Government Investment Pool - is a local government pool offered to public entities
for the investment of public funds. These pools are important investments tools, offering
liquidity and safety with a competitive yield.
LPGA – Ladies Professional Golf Association
LTRC – Lone Tree Recreation Center
Maintaining What We Have – a phrase used by the District to mean projects that maintain
the District’s existing facilities and equipment.
Matching Gifts Program – Approved joint projects, with the District paying for ½ of the
cost. The remaining cost of the project is paid for by the applicant (i.e. home owner’s
associations or local fund raising).
Merit - An increase to an individual's base pay rate based on performance.
Microsoft Dynamics GP – The accounting software the District uses to perform its financial
transactions.
Mill Levy – See definition for Levy
Mill Rate – The amount of tax paid per dollar of the assessed property value expressed in
mills. One mill is 1/10 of a cent.
Modified Accrual (also referred to as “Budgetary Basis of Accounting”) – Revenues are
considered to be available when they are collectible within the current period or soon enough
thereafter to pay liabilities of the current period. For this purpose, the District considers
revenue to be available if they are collected within 60 days of the end of the current fiscal
period.
Money Market Fund - Money market funds are a type of mutual fund that provides
investors with immediate availability of their money, while offering a better return than some
alternatives. These funds hold large quantities of short-term securities, some of which mature
daily.
Mountain States Employer - A non-profit membership organization, founded in 1939,
designed to partner with employers to maintain effective employer/employee relationships.
.Net – A comprehensive software development platform from Microsoft that was introduced
in 2000 as the company's next generation programming environment.
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