ITEM 15 ATTACHMENT 1 - Laserfiche WebLink

Budgetary Unit An organizational component budgeted separately, usually a department or a division. Build America Bonds Taxable municipal bonds that carry special tax credits and federal subsidies for either the bond issuer or the bondholder. Build America Bonds were created under Section 1531 of Title I of Division B of the American Recovery and Reinvestment Act that U.S. President Barack Obama signed into law on February 17, 2009. California Society of Municipal Finance Officers The purpose of this organization is to promote professional administration of municipal finance and to strive for the attainment of professional status of all those responsible for the conduct of the activities of the field. Capital Expenditure A capital expenditure typically involves items costing $10,000 or more for the purchase or construction of major fixed assets such as land, buildings and any permanent improvement including additions, replacements and major alterations having a long life expectancy. Capital Improvement Program A long-range financial plan detailing all funding sources and planned expenditures for capital planning and capital improvement projects. Capital Outlay Expenditures which result in the acquisition of, or addition to, fixed assets. A capital item is tangible, durable, non -consumable, costs $10,000 or more and has a useful life of more than ten years. Carryover or Carry Forward Process of carrying a budgeted and encumbered item from the current fiscal year to the next fiscal year. For example, a purchase order for a budgeted computer purchase is placed in FY 2023/24. The budget for FY 2024/25 did not include a purchase of a computer. The unspent FY 2024/25 budget is adjusted (increased) for this purchase. Cash Basis or Cash Method Is an accounting method that recognizes income and deductions when money is received or paid. The modified accrual method is the preferred method for government organizations. Community Development Block Grant Program Funded by the Department of Housing and Urban Development of the Federal Government. Community Facilities District These funds account for special benefit assessments levied for a variety of allowable uses, including but not limited to police services, joint use school facilities and library facilities. The allowable uses of the funds are governed by the formation documents of each individual District. Compensation Direct and indirect monetary and non -monetary rewards given to employees on the basis of the value of the job, their personal contributions and their performance. These rewards must meet both the organization's ability to pay and any governing legal regulations. 199