2007-08 Adopted Plan - Wake County Public School System

Glossarymaturity date). Bonds are primarily used to fi nance capital projects.Bond RefinancingThe payoff and re-issuance of bonds, to obtain better interest rates and/or bond conditions.Budgetary ControlThe control or management of a government in accordance with theapproved budget for the purpose of keeping expenditures within thelimitations of available appropriations and resources.BSNBridges to Success NetworkBTUBritish Thermal UnitBudgetA plan proposed by a board of education for raising and spending moneyfor specifi ed school programs, functions, activities, or objectives duringa fi scal year.Budget AmendmentThe primary budget manager would submit a budget amendment whennew funds need to be added to the budget or if funds need to be removedfrom the budget.Budget ResolutionA resolution adopted by a board of education that appropriates revenuesfor specifi ed school programs, functions, activities, or objectives duringa fi scal year.Budget TransferThe primary budget manager would submit a budget transfer whenfunds are transferred between level codes within program.Budget YearThe fi scal year for which a budget is proposed and a budget resolutionis adopted.Budgetary BasisThis refers to the basis of accounting used to estimate fi nancing sourcesand uses in the budget. This generally takes one of three forms: GAAP,cash, or modifi ed accrual.C&ICurriculum and InstructionCACCitizen Advisory CommitteeCAFRComprehensive Annual Financial Report.Capital AssetsAssets of signifi cant value and having a useful life of several years.Capital assets are also called fi xed assets.Capital BudgetThe appropriation of bonds or operating revenue for improvements tofacilities, and other infrastructure.Capital ImprovementExpenditures related to the acquisition, expansion or rehabilitation of anelement of the government’s physical plant; sometimes referred to asinfrastructure.Capital OutlayFixed assets, which have a value of $5,000 or more and have a usefuleconomic lifetime of more than one year.Capital Outlay FundAppropriations for:a. The acquisition of real property for school purposes, including butnot limited to school sites, playgrounds, athletic fi elds, administrative389 FY 2007-08 Plan for Student Success