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Prepaid <br />Expense paid in advance, such as a one-year insurance policy paid when purchased or rent <br />paid in advance of the period covered. <br />Prior Year <br />The fiscal year preceding the current year. <br />Program <br />An organized self-contained set of related work activities within a department or division <br />which are directed toward common objectives and represent a well-defined expenditure of <br />City resources. <br />Projection <br />Estimate of future performance made by economists, corporate planners and credit and <br />securities analysts, typically using historic trends and other assumed input. <br />Pro Rata <br />Proportionate allocation. For example, a pro rata property tax rebate might be divided <br />proportionately (prorate) among taxpayers based on their original assessments, so that <br />each gets the same percentage. <br />Purchase Order <br />An order issued by the Purchasing Department which authorizes the delivery of specific <br />goods or services, and incurrence of a debt for them. <br />Purchase Requisition <br />The initial purchase request document that, if approved, is the basis for the preparation of <br />the official purchase order. <br />Reserve <br />The portion of a fund's balance legally restricted for a specific purpose and therefore not <br />available for general appropriation. <br />Reserved Fund Balance <br />For governmental funds and expendable trust funds, the portion of fund balance that is not <br />available for appropriation because it is either legally restricted or not spendable. <br />Resolution <br />In general, expression of desire or intent. Legal order by a government entity. <br />Revenues <br />Funds, received from various sources and treated as income to the City, which are used to <br />finance expenditures. Examples are tax payments, fees for services, receipts from other <br />governments, fines, grants, licenses, permits, shared revenue and interest income. <br />Right -of -Way <br />A public designation for space needed to accommodate streets, public utilities and other <br />public facilities. <br />Rollover <br />Similar to carryover, used primarily in adjusting anticipated or budgeted amounts in the <br />future years to actual amounts. <br />206 <br />