2012-2013 Budget - City of Saginaw MI

C –CAPITAL BUDGET – A spending plan forimprovements to or acquisition of land, facilities,equipment, and infrastructure. The capital budget(1) balances revenues and expenditures, (2)specifies the sources of revenues, (3) lists eachproject or acquisition, and (4) must ordinarily beapproved through adoption of an appropriation bythe legislative body.CAPITAL EXPENDITURE – The acquisitionof fixed assets, usually authorized in the capitalbudget that includes land, buildings,infrastructure, and equipment.CAPITAL IMPROVEMENT PLAN (CIP) – Amulti-year plan to provide for equipmentacquisition, improvement to public facilities, andconstruction of new facilities.CAPITAL OUTLAY – Expenditures relating tothe purchase of equipment, facility modifications,land, and other fixed assets.CASH BASIS – The method of accounting underwhich revenues are recorded when received incash and expenditures are recorded when actuallypaid.CLEAN ENERGY COLAITION (CEC) –CREDIT RATING – The credit worthiness of anentity, as evaluated by independent agencies suchas Moody’s Investors Service, Inc. and Standardand Poor’s Corp.D –DEBT SERVICE – Payment of interest andprincipal on an obligation resulting from issuanceof bonds and notes.DEBT SERVICE FUND – A fund used toaccount for the accumulation of resources for, andthe payment of, general long-term debt principal,interest and related costs.DEFICIT – An excess of liabilities and reservesof a fund over its assets.DEPARTMENT – The largest organizationalcomponent of the City which has been assignedoverall management responsibility for anoperation or a group of related operations within afunctional area.DEPRECIATION – The spreading out of theoriginal cost over the estimated life of the fixedasset such as building or equipment..DESIGNATED FUND BALANCE - A portionof unreserved fund balance assigned by Citypolicy for a specific future use.DIRECT COSTS – Expenses that are directlyattributable to the production of service, such aswages, benefits, supplies, and contract services,and that would be eliminated if the service werediscontinued.DIVISION – The largest organizationalcomponent within a bureau which design is tied toa specific service output or function.E –ENCUMBRANCE – A reservation of funds foran anticipated expenditure prior to actual paymentfor an item.ENTERPRISE FUND – A fund used to accountfor revenues received for goods and servicesprovided to the general public on a continuousbasis and primarily financed through user charges.EXPENDITURE – Actual outlay of money forgoods or services.EXPENSE – Expenditures and other obligations(e.g., encumbrances) to expend money for goodsand services.F –FICA – City’s portion of mandatory SocialSecurity contribution (6.20%) and mandatory443