2012-2013 Budget - City of Saginaw MI
2012-2013 Budget - City of Saginaw MI 2012-2013 Budget - City of Saginaw MI
Medicare contribution (1.45%) for its employeespayable to the federal government.FIDUCIARY FUND – A fund that accounts forresources that governments hold in trust forindividuals or other governments.FISCAL YEAR (FY) – A twelve-month perioddesignated as the operating year for an entity. Thefiscal year for the City of Harrisburg is January 1– December 31.FIXED ASSET – Asset of a long-term naturesuch as land, buildings, machinery, furniture, andother equipment. The City has defined fixedassets as those with an expected useful life inexcess of one year and an acquisition cost inexcess of $5,000.FRINGE BENEFITS – Health and welfarerelated benefits for all full-time employees, suchas medical, dental, vision, and life insurancecoverage, and a prescription drug plan which areincluded in the employee’s compensationpackage.FUND – An accounting entity that records allfinancial transactions for specified activities orgovernment functions. The six fund types used bythe City are – General Fund, Capital ProjectsFund, Debt Service Fund, Special Revenue Funds,Propriety (Utility) Funds, and Trust and AgencyFunds.FUND BALANCE – A cumulative excess ofrevenues over expenditures segregated by fund.G –GENERAL OBLIGATION BOND and NOTE– Forms of borrowing (debt financing) whichreflect written promises from the City to repaysums of money on specific dates at specifiedinterest rates backed by the full faith, credit, andtaxing power of the municipality.GENERAL FUND – The City’s major operatingaccount for all financial resources except thoserequired to be accounted for in another fund.GOVERNMENTAL FUNDS – Funds thataccount for the services provided to the generalcitizenry as opposed to a specific group. Thesefunds focus on current financial resources,emphasizing budgetary control and available cash.GRANT – A sum of money allotted from aspecific governmental or non-profit organizationto be used under certain circumstances for adesignated purpose.I –INDIRECT COSTS – Costs that are incidental tothe production of goods and services, such asadministration, budgeting, accounting, personnel,purchasing, legal, and similar staff supportservices. Unlike direct costs, indirect costs do notdisappear if the service or good is discontinued.Also known as overhead.INFRASTRUCTURE – The basic physicalframework or foundation of the City, referring toits buildings, roads, bridges, sidewalks, watersystem, and sewer system.INTERFUND TRANSFER – A transfer ofmoney from one fund of the City to another fundof the City.K –KEY PERFORMANCE INDICATOR – Atargeted measurement which adds the most valuesto the department and is linked to target valuesand future projections.L –LIABILITY – Debt or other legal obligationsarising out of transactions in the past which mustbe paid, renewed, or refunded at some future date.LINE-ITEM BUDGET – A budget that listsdetailed expenditure categories such as salary,postage, and maintenance service contracts. Thespecific amount budgeted is also listed bycategory.444
LONG-TERM DEBT – Debt with a maturity ofmore than one year after date of issuance.M –MILL – A taxation unit equal to one dollar of taxobligation for every $1,000 of assessed valuationof property.MILLAGE – The total tax obligation per $1,000of assessed valuation of property.MISSION – A statement that defines thefundamental purpose of the department succinctlydescribing why it exists and what it does toachieve its pupose.MODIFIED ACCRUAL – The method ofaccounting that is a mixture of both cash andaccrual bases concepts. Revenues are recordedwhen they are both measurable and available tomeet current liabilities. Expenditures are recordedwhen goods or services are received.MSHDA (Michigan State Housing DevelopingAuthority.) The Michigan State Housing Development Authorityprovides financial and technical assistance through public and privatepartnerships to create and preserve safe and decent affordable housing.N –NOTE – A short-term promise to repay aspecified amount of money (the face value of thenote) on a particular date (maturity date). Notesare primarily used to supplement current cashflow in anticipation of taxes and other revenues tobe received, or to provide interim financing forcapital projects in anticipation of the issuance ofbonds.O –OPERATING BUDGET – That portion of abudget that deals with recurring expenditures suchas salaries, electric bills, postage, printing andduplicating, paper supplies, and gasoline.OPERATING EXPENSES – Ongoing costsassociated with sustaining City governmentoperations such as: communications, professionalfees, insurance, rentals, maintenance and repairs,contracted services, supplies, and minor capital.ORGANIZATIONAL CHART – A chartrepresenting the authority, responsibility, andrelationships among departments, bureaus, anddivisions within the City organization.P –PART-TIME POSITION – A position regularlyscheduled for no more than 25 hours per week.PERFORMANCE-BASED BUDGETING – Amethod of allocating resources to achieve specificobjectives based on program goals and measuredresults.PERFORMANCE OBJECTIVE – A goalwhose attainment can be reasonably achievedwith available resources that assist the departmentin accomplishing its mission.PERSONNEL SERVICES – Expendituresrelating to compensating employees of the Cityincluding wages, salaries, and special pay such aslongevity, holiday, vacation, sick, personal, andbereavement; overtime and shift differential;fringe benefits such as FICA, health, and lifeinsurances; and miscellaneous expenditures suchas pension plan contributions, workers’compensation, and unemployment compensationcosts.PROGRAM – An organized set of activitiesdirected toward a common purpose or goal that anagency undertakes or proposes to carry out itsresponsibilities.PROPERTY TAX RATE – A rate set either by alocal governing board or in state law that, whenapplied to the tax base (assessed value), representsthe property owner’s tax liability.PROPOSED BUDGET – The City’s resourceallocation plan for the fiscal year as prepared andrecommended by the Mayor for consideration byCity Council.445
- Page 431 and 432: Inspections - (summary of services)
- Page 433 and 434: The key performance indicator to
- Page 435 and 436: Workers Compensation - (summary of
- Page 437 and 438: Controller’s Office - (summary of
- Page 439 and 440: Department of Public ServicesPhilli
- Page 441 and 442: Explanation of variances:In FY 2012
- Page 443 and 444: Abatement of Nuisances - (summary o
- Page 445 and 446: SGTV - (summary of services)The SGT
- Page 447 and 448: Instrumentation and Process Control
- Page 449 and 450: CTIY OF SAGINAWCOMMUNITY PROFILE201
- Page 451 and 452: COMMUNITY HIGHLIGHTSSaginaw Art Mus
- Page 453 and 454: Andersen Enrichment Centerwww.artsa
- Page 455 and 456: climbing apparatus, a beamed hill,
- Page 457 and 458: CULTURAL INDULGENCESGreen Point Env
- Page 459 and 460: Saginaw Art Museum features an expa
- Page 461 and 462: Saginaw County is 23rd in the natio
- Page 463 and 464: of the University's level of perfor
- Page 465 and 466: Midland, Bay, Saginaw (MBS)Internat
- Page 467 and 468: DEVELOPING PROJECTSPROJECTCOSTSched
- Page 469 and 470: MAJOR EMPLOYERS IN THE SAGINAW AREA
- Page 471 and 472: CITY OF SAGINAWSTATISTICAL SECTION2
- Page 473 and 474: CITY OF SAGINAW, MICHIGANCOMMUNITY
- Page 475 and 476: CITY OF SAGINAW, MICHIGANPRINCIPAL
- Page 477 and 478: GLOSSARY OF ABBREVIATED TERMS-A-AAS
- Page 479 and 480: GLOSSARY OF ABBREVIATED TERMSPOAMPP
- Page 481: C -CAPITAL BUDGET - A spending plan
- Page 485: 1315 SOUTH WASHINGTON AVENUESAGINAW
Medicare contribution (1.45%) for its employeespayable to the federal government.FIDUCIARY FUND – A fund that accounts forresources that governments hold in trust forindividuals or other governments.FISCAL YEAR (FY) – A twelve-month perioddesignated as the operating year for an entity. Thefiscal year for the <strong>City</strong> <strong>of</strong> Harrisburg is January 1– December 31.FIXED ASSET – Asset <strong>of</strong> a long-term naturesuch as land, buildings, machinery, furniture, andother equipment. The <strong>City</strong> has defined fixedassets as those with an expected useful life inexcess <strong>of</strong> one year and an acquisition cost inexcess <strong>of</strong> $5,000.FRINGE BENEFITS – Health and welfarerelated benefits for all full-time employees, suchas medical, dental, vision, and life insurancecoverage, and a prescription drug plan which areincluded in the employee’s compensationpackage.FUND – An accounting entity that records allfinancial transactions for specified activities orgovernment functions. The six fund types used bythe <strong>City</strong> are – General Fund, Capital ProjectsFund, Debt Service Fund, Special Revenue Funds,Propriety (Utility) Funds, and Trust and AgencyFunds.FUND BALANCE – A cumulative excess <strong>of</strong>revenues over expenditures segregated by fund.G –GENERAL OBLIGATION BOND and NOTE– Forms <strong>of</strong> borrowing (debt financing) whichreflect written promises from the <strong>City</strong> to repaysums <strong>of</strong> money on specific dates at specifiedinterest rates backed by the full faith, credit, andtaxing power <strong>of</strong> the municipality.GENERAL FUND – The <strong>City</strong>’s major operatingaccount for all financial resources except thoserequired to be accounted for in another fund.GOVERNMENTAL FUNDS – Funds thataccount for the services provided to the generalcitizenry as opposed to a specific group. Thesefunds focus on current financial resources,emphasizing budgetary control and available cash.GRANT – A sum <strong>of</strong> money allotted from aspecific governmental or non-pr<strong>of</strong>it organizationto be used under certain circumstances for adesignated purpose.I –INDIRECT COSTS – Costs that are incidental tothe production <strong>of</strong> goods and services, such asadministration, budgeting, accounting, personnel,purchasing, legal, and similar staff supportservices. Unlike direct costs, indirect costs do notdisappear if the service or good is discontinued.Also known as overhead.INFRASTRUCTURE – The basic physicalframework or foundation <strong>of</strong> the <strong>City</strong>, referring toits buildings, roads, bridges, sidewalks, watersystem, and sewer system.INTERFUND TRANSFER – A transfer <strong>of</strong>money from one fund <strong>of</strong> the <strong>City</strong> to another fund<strong>of</strong> the <strong>City</strong>.K –KEY PERFORMANCE INDICATOR – Atargeted measurement which adds the most valuesto the department and is linked to target valuesand future projections.L –LIABILITY – Debt or other legal obligationsarising out <strong>of</strong> transactions in the past which mustbe paid, renewed, or refunded at some future date.LINE-ITEM BUDGET – A budget that listsdetailed expenditure categories such as salary,postage, and maintenance service contracts. Thespecific amount budgeted is also listed bycategory.444
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