2012 Budget - South Suburban Parks and Recreation

South Suburban Park and Recreation District
Glossary
Proprietary Fund - in governmental accounting, one having profit and loss aspects;
therefore it uses the accrual rather than modified accrual accounting method. The two types
of proprietary funds are the enterprise fund and the internal service fund .
Quasi Municipal Corporation - A quasi corporation generally refers to an entity that
exercises some of the functions of a corporation, but has not been granted separate legal
personality by statute, particularly a public corporation with limited authority and powers
such as a county or school district.
Regional Parks – Parks with amenities that serve a larger region of the District.
Repurchase Agreement - A contract giving the seller of an asset the right or obligation to
buy back the asset at a specified price on a given date.
Reserve – An account used to record a portion of the fund balance that is legally restricted
for a specific purpose and is not available for general appropriation.
Reserved Fund Balance – a portion of the fund balance that is legally restricted for a
specific purpose and is not available for general appropriation.
Revenue – the increase in assets of governmental funds that do not increase liability or
recovery of expenditure. This revenue is generally obtained from taxes and fees.
Revenue Bond - Bond issued by a municipality to finance a specific public works project
and supported by the revenues of that project.
Routine Capital Projects – replacement equipment, facility improvements, and
maintenance.
SEMSWA – South East Metro Storm Water Authority
South Platte Park Working Group – a collaboration of 19 local governments and
community agencies working to preserve open space and recreation amenities along the
South Platte River corridor.
Special Revenue Fund – A fund used to account for the proceeds of a specific revenue
source that are legally restricted to expenditures for a specific purpose.
SSPRD – South Suburban Park and Recreation District
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