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Financial Management for Elected Officials January 2013 <br /> <br />Institute for Local Government www.ca-ilg.org 27 <br /> <br /> <br /> <br />Short-Term Financing Methods Techniques used for many purposes, such as meeting <br />anticipated cash flow deficits, interim financing of a <br />project, and project implementation. Using these <br />techniques involves issuance of short-term notes. <br /> <br />Special Revenue Fund Funds used to account for proceeds from specific revenue <br />sources that are legally restricted as to how the revenues <br />may be spent. A special revenue fund must have a <br />separate budget adopted annually. <br />Tax and Revenue Anticipation Notes <br />(TRANS) <br />A short term loan that local agencies use to even out cash <br />flow during the year. The loans take the form of a debt <br />(“note”) that is secured by anticipated tax and other <br />revenue collections. <br /> <br />Tax Base The objects or transactions to which a tax is applied (for <br />example parcels of property, retail sales, etc.). State law or <br />local ordinances define the tax base and the objects or <br />transactions exempted from taxation. <br />Tax Rate The amount of tax applied to the tax base. The rate may <br />flat, incremental or a percentage of the tax base, or any <br />other reasonable method. <br />Total Appropriations and Total Revenues The consolidation of all revenues and expenditures for all <br />funds. The purpose is to report accurately the full amount <br />of governmental revenues and expenditures for the budget <br />period <br /> <br />Use Tax A tax imposed on the use or storage of tangible personal <br />property when sales tax is not paid. See also “sales tax.” <br />User Fee Fees charged for the use of a public service or program. <br />An example is fees charged to participants in recreation <br />programs. User fees for property-related services are <br />referred to as property-related fees. <br /> <br />Utility Rate A category of user fee paid by the user of utility services. <br />Utility Users Tax Tax imposed on the consumer (residential and/or <br />commercial) of any combination of electric, gas, cable <br />television, water, and telephone services. <br />Vehicle License Fee (VLF) Annual registration fee imposed on vehicles. <br /> <br /> <br /> <br /> <br /> <br />Page 49 of 109