general and statistical information - City of Inglewood

GLOSSARY OF BUDGET TERMS
Accounting System:
Adoption:
Agency:
Appropriation/Modified
Appropriation:
The methods and records established to identify, assemble, analyze, classify, record and
report a government's transactions and to maintain accountability for the related assets and
liabilities.
Formal action taken by the City Council, which sets the spending plan for the fiscal year.
The highest level of City administrative units. An agency is comprised of one or more
organizations. The term Agency/Department is used interchangeably throughout the
budget document (i.e., Finance Agency, Police Department, etc.).
A legal authorization granted by the City Council to expend monies, and incur obligations
for specific purposes. An appropriation usually is limited in amount and time it may be
expended. The term modified appropriation refers to changes made to adopted
appropriations by amendments approved by the legislative body. This occurs for example,
when additional grant monies are received during the fiscal year and are made available for
immediate appropriation.
Budget (Proposed/Approved): A plan of financial operations embodying an estimate of proposed expenditures for a given
period and the proposed means of financing them. Used without any modifier, the term
usually indicates a financial plan for a single fiscal year. The term "budget" is used in two
senses in practice. Sometimes it designates the financial plan presented to the
appropriating governing body for adoption (proposed budget), and sometimes, the plan
adopted by that body (approved budget).
Budgetary Control:
The control or management of a government or enterprise in accordance with an approved
budget for the purpose of keeping expenditures within the limitations of available
appropriations and revenues. Control is by personnel, maintenance & operations and
capital outlay within organizational units.
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