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City of Pleasanton Operating Budget • FY 2023/24 - FY 2024/25B - 10 <br />Full-Time Employee <br />The designation of staffing based on the Full-Time Employee for personnel using a guideline of 2,080 hours <br />per year (1.0 FTE) or for 1,040 hours per year (0.5 FTE). <br />Function <br />An activity or a group of related activities for which the budgetary unit is responsible; in the City, a function is <br />the same as a program. <br />Fund <br />A separate accounting entity, with a self-balancing set of accounts, to record all financial transactions <br />(revenues and expenditures) for specific activities or government functions. Funds are classified into three <br />categories: governmental, proprietary or fiduciary. For a detailed list of the City’s funds and descriptions, <br />refer to the Fund Descriptions. <br />Fund Accounting <br />System used by nonprofit organizations, particularly governments. Since there is no profit motive, <br />accountability is measured instead of profitability. The main purpose is stewardship of financial resources <br />received and expended in compliance with legal requirements. Financial reporting is directed at the public <br />rather than investors. <br />Fund Balance <br />The excess of assets over liabilities and reserves; also known as surplus funds. This term applies to <br />governmental funds only. <br />General Obligation Bond <br />Also referred to as GO Bonds, are usually limited by state law as to the amount as well as the length of <br />indebtedness that a government can have. These “Full Faith and Credit” bonds are secured by all of the <br />financial assets of the local government, including property taxes. <br />Geographic Information System <br />A computer-based Geographic Information System is being established by the Information Services Division <br />for the tracking and monitoring of development projects. <br />Goal <br />A general statement of broad direction, purpose or intent which describes the essential reason for existence <br />and which is not limited to a one-year time frame. Generally, a goal does not change from year to year. <br />Government Accounting <br />Principles and procedures in accounting for federal, state and local governmental units. The National <br />Council on Governmental Accounting establishes rules. Unlike commercial accounting for corporations, <br />encumbrances and budgets are recorded in the accounts. Assets of a governmental unit are restricted for <br />designated purposes. <br />Government Enterprise <br />Governmentally sponsored business activity. A utility plant may be a government enterprise which raises <br />revenue by charging for its services. <br />Government Finance Officers Association <br />A non-profit professional association serving more than 21,000 government finance professionals <br />throughout North America.