Laserfiche WebLink
City of Pleasanton Operating Budget • FY 2023/24 - FY 2024/25B - 4 <br />Account <br />A subdivision within a fund for the purpose of classifying transactions. <br />Accounting System <br />The total set of records and procedures that are used to record, classify and report information on an <br />entity’s financial status and operations. <br />Accrual Basis of Accounting <br />The method of accounting under which revenues are recorded when they are earned (regardless of when <br />cash is received) and expenditures are recorded when goods and services are received (regardless if <br />disbursements are actually made at that time). <br />Activity <br />A function or a group of related functions for which the budgetary unit is responsible. For the City’s <br />budgeting purposes, an activity is the same as a program. <br />Actual Cost <br />The amount paid for an asset; not its market value, insurable value, or retail value. It generally includes <br />freight-in and installation costs but not interest on the debt to acquire it. <br />Ad Valorem <br />Latin for according to value. An ad valorem tax is assessed on the value of goods or property; not on the <br />quantity, weight, extent, etc. <br />Administrative Expense <br />Often grouped with General Expenses, expenses that are not as easily associated with a specific function as <br />are direct costs of providing services. <br />Adjusting Entry <br />A journal entry posted to the accounting records at the end of an accounting period to record a transaction <br />or event which was not properly posted during the accounting period for various reasons. <br />Adopted Budget <br />A budget which typically has been reviewed by the public and “Adopted” (approved) by the City Council <br />prior to the start of the fiscal year. <br />Allocable Costs <br />Costs that are allocable to a particular cost objective to the extent of benefits received by such objective. <br />Allocation <br />A distribution of funds or an expenditure limit established for an organizational unit. <br />Annual Comprehensive Financial Report <br />Prepared in conformity with GAAP as set forth by GASB. <br />Applied Overhead <br />Amount of overhead expenses that are charged to either a production job or a department when utilizing a <br />cost accounting system. <br />Glossary of Terms