governmental services - GORacine.org

Glossary of TermsAAADAADRCAdopted BudgetAmended or RevisedBudgetANAODAAppropriationARRAAssessed ValuesBeginning FundBalanceBondBudgetBudget BookBudget ControlBudget MessageCFAlcohol AbusersAmericans with Disabilities ActAging & Disability Resource CenterThe financial plan for the fiscal year beginning January 1. Required by law to beapproved by the County Board.The current year adopted budget adjusted to reflect all budget amendmentsapproved by the County Board through the date indicated.Abused & Neglected ChildrenAlcohol and Other Drug AbuseAn authorization made by the County Board that permits officials to incurobligations against and to make expenditures of governmental resources forspecific purposes. Appropriations are usually made for fixed amounts and aretypically granted for a one-year period.American Recovery and Reinvestment ActA valuation set upon real estate and certain personal property by the localassessor as a basis for levying property taxes.The Ending Fund Balance of the previous period (See Ending Fund Balancedefinition.)(Debt Instrument): A written promise to pay a specified sum of money (called theprincipal amount or face value) at a specified future date (called the maturitydate) along with periodic interest paid at a specified percentage of the principal(called the interest rate). Bonds are typically used for a long-term debt to pay forspecific capital expenditures.A plan of financial operation embodying an estimate of proposed expendituresand revenues for a given calendar year. It specifies the type and level of countyservices to be provided, while limiting, through the appropriation process, theamount of money that can be spent. Budgets are adopted for the following fiscalyear but can be modified.The official written document prepared by the Finance Department that presentsthe Executive’s proposed budget to the County board for review and the finaladopted document, subsequent to County Board approval and Executive veto (ifnecessary).The control or management of a governmental unit of enterprise in accordancewith an approved budget for the purpose of keeping expenditures within thelimitations of available appropriations and available revenues.The opening section of the budget, prepared by the County Executive, providesthe County Board of Supervisors and the public with a general summary of themost important aspects of budget policy, including changes from the current andprevious fiscal years.Children and FamiliesPAGE 47 - 16