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Government Accounting <br />Principles and procedures in accounting for federal, state and local governmental units. The <br />National Council on Governmental Accounting establishes rules. Unlike commercial <br />accounting for corporations, encumbrances and budgets are recorded in the accounts. <br />Assets of a governmental unit are restricted for designated purposes. <br />Government Enterprise <br />Governmentally sponsored business activity. A utility plant may be a government enterprise <br />which raises revenue by charging for its services. <br />Government Finance Officers Association <br />A non-profit professional association serving more than 21,000 government finance <br />professionals throughout North America. <br />Governmental Fund <br />This category of funds account for all records or operations not normally found in business, <br />such as the General Fund, Special Revenue Funds, Debt Service Funds and <br />Capital Projects Funds. <br />Grant <br />A sum of money given by an organization or agency for a particular purpose. The use of <br />grant funds must be consistent with any funding conditions required by the grant. <br />Historical Cost <br />Actual expenses incurred during the previous fiscal years. The basis for how trends are <br />determined. Accounting principle requiring that all financial statement items be based on <br />original cost or acquisition cost. <br />Hourly Billing Rate <br />The rate of a position on an hourly schedule including the cost of the positions hourly salary <br />plus the hourly fringe benefit costs, plus the division or department overhead costs, plus <br />the City's general and administrative costs. This "Total" labor cost per hour is used to <br />determine various costs of services provided to the public. <br />Indirect Cost <br />Costs not directly accountable to a cost object but included in total cost overhead. <br />Inflation <br />Rise in the prices of goods and services, as happens when spending increases relative to <br />the supply of goods on the market. <br />Infrastructure <br />The physical assets of the City, such as streets, water, wastewater, public buildings and <br />parks, and the support structures within a development. <br />Interest Revenues <br />Revenues received as interest from the investment of funds not immediately required to <br />meet cash disbursements obligations. <br />Investment <br />Securities and real estate purchased and held for the production of income in the form of <br />interest, dividends, rentals or base payments. <br />203 <br />