Recommended Budget Volume One.book - Chief Executive Office ...

Glossary
ACTIVITY: A major work effort performed to meet a program
objective.
ACTUAL FISCAL YEAR: Amounts represent actual
expenditures and available financing sources for two fiscal
years prior to the Recommended Budget fiscal year.
APPROPRIATION: A legal authorization to make expenditures
and incur obligations for specific purposes.
APPROPRIATION FOR CONTINGENCIES: A budgetary
provision representing a portion of the financing uses that is
set aside to meet unforeseen expenditure requirements.
AUDITOR-CONTROLLER SCHEDULES: Provides summary and
detailed countywide financing and use information necessary
to meet mandated State Controller requirements.
AVAILABLE FUND BALANCE: That portion of the fund balance
that is not reserved or designated and therefore is available for
financing the budgetary requirements.
BOND ANTICIPATION NOTES (BANs): An interim financing
instrument issued in anticipation of permanent long-term
financing. BANs are issued by Joint Powers Authorities (JPAs)
and Non-profit Corporations (NPCs) as authorized by the
California Government and Corporations Codes, respectively.
BUDGET FISCAL YEAR: Provides the current year’s budgeted
amounts as a yardstick for measuring the recommendations for
next year’s Recommended Budget. Reflects the Board-adopted
budget, but does not incorporate any budget adjustments or
changes that may occur during the year.
BUDGET MESSAGE: A general discussion of the
Recommended Budget as presented in writing to the
legislative body. The budget message contains an explanation
of the principal budget items and their financial status at the
time of the message.
BUDGET SUMMARY SCHEDULES: Provides summary and
detailed information on financing uses/sources and budgeted
positions.
GLOSSARY
Appendix
BUDGET UNIT: The classification of expenditures and revenue
into appropriately identified accounting or cost centers
deemed necessary or desirable for control of financial
operations. Unless provided by law, such units may be devised
at the discretion of the Board of Supervisors.
BUDGETED POSITIONS: A unit of measure used to
standardize positions with different bases (e.g., hours, months).
All items are converted to full-time equivalent positions, which
are represented as budgeted positions in departmental
operations. A full-time equivalent represents one item working
full-time for one year; this facilitates analytical comparisons.
CANCEL RESERVES/DESIGNATION: An accounting
transaction to release reserved or designated balances to
finance appropriations. Abbreviation: CANCEL RES/DES
CAPITAL ASSETS-BUILDINGS AND IMPROVEMENTS:
Expenditures for the acquisition of buildings and
improvements. Abbreviation: CAPITAL ASSETS - B & I
CAPITAL ASSETS-EQUIPMENT: Expenditures for the
acquisition of physical property of a permanent nature, other
than land, buildings, and improvements.
CAPITAL ASSETS-INFRASTRUCTURE: Public domain capital
assets such as roads, bridges, curbs and gutters, streets and
sidewalks, drainage systems, lighting systems, and similar
assets that are immovable and of value only to a government
unit.
CAPITAL ASSETS-LAND: Expenditures for the acquisition of
land.
CAPITAL PROJECT: Capital improvements to buildings that
result in an increase of square footage, construction of new
facilities, or the acquisition of land. Abbreviation: CAP PROJ
CAPITAL PROJECTS/REFURBISHMENTS SCHEDULES: A
section in the Budget Summaries Detail (Volume 2) that
provides a summary of the County’s Capital Program and
detailed information on each capital improvement and
refurbishment project. Funds for these projects are
appropriated in the Capital Projects/Refurbishments budget as
capital assets-land and capital assets-buildings and
improvements.
FY 2011-12 Recommended Budget Volume One 66.1 County of Los Angeles