Term
|
Definition
| _________ _________related to program/function. should be reported on the _____ for that function. |
|
|
Term
Wide
1. Direct Expenses
2. Program Revenues
3. Indirect expenses
4. General Revenues |
|
Definition
Govt ____ Financials: 4 Types
1. D_______ ________
2. P_______ ________
3. I_______ ________
4. G_______ ________ |
|
|
Term
|
Definition
| _______ ________ - not directly linked with function or program- can be reported in a variety of ways. |
|
|
Term
Program Revenues, activities
Charges for services
Grants, Contributions |
|
Definition
| ________ _______ reported in the functions/programs section of the statement of ________. They reduce the net expense of the func or prog. Generated from C______ __ ______ as well as G______ and C______ |
|
|
Term
Government Wide Statement of Activities
Expenses - Program Revenues = Net Revenue |
|
Definition
G_____ Wide _____ __ _________
A net expense or net revenue format is used in the top section of the GW S of A.
E______ - ________ Revenues= __ Revenue |
|
|
Term
|
Definition
| For Govt Wide Statement of Activities the ________ accrual method is used. |
|
|
Term
|
Definition
| _____ ______- Used to acct for the _______ administration and most traditional services of govt. |
|
|
Term
Public Safety
Public Works
Culture and Recreation
Health and Welfare
budgets |
|
Definition
General Fund Examples
P_____ S_______
______ W_______
Culture and R______
H_____ and Welfare
Each of these have their own ______. |
|
|
Term
Governmental
Assets= Liabilities + Fund Balance |
|
Definition
Fund Equation for the G______ Fund
A_____ = L_______ + F______ _________ |
|
|
Term
Revenues
Expenditures
Other Sources and uses
temporary |
|
Definition
Governmental Funds-Actual
R______
E______
Other ____ and u___
All three are _________. |
|
|
Term
revenues
measurable available |
|
Definition
| ________-increases the fund balance. Reported when m______ and ________. Not from fund transfers or debt issue proceeds. |
|
|
Term
|
Definition
| __________-reduces the fund balance when it is spent or obligated. |
|
|
Term
|
Definition
| Other ____ and u____- can increase or decrease the fund balance. Generated by debt issue proceeds or fund transfers. (ex. Issued b____) |
|
|
Term
|
Definition
| For Governmental Funds the _____ _____ method is used. |
|
|
Term
|
Definition
| At the end of the fiscal period, revenues expenditures and other sources & uses are closed out to the _______ fund. |
|
|
Term
|
Definition
Classification of Revenues and _______ Revenues.
By f_____
By S_____ |
|
|
Term
1. Taxes (Ad Valorem and Self Assessing)
2. Special Assessments
3. Licenses and Permits
4. Intergovernmental revenues
5. Charges for Services
6. Fines and Forfeits
7. Miscellaneous |
|
Definition
Types of revenues and estimated revenues by source:
1. T___ (__ _______ and S___ Assessing)
2. S_______ Assessments
3. L___ and P______
4. Inter_____ R_______
5. Charges for S______
6. F_____ and F______
7. M______ |
|
|
Term
Ad Valorem
revenue
receivable |
|
Definition
| ___ _______ assessed taxes. Assessed on property value (personal and real). It is measurable debit r______ and credit r_______. |
|
|
Term
Self Assessing taxes
accrued
cash
revenue |
|
Definition
| ______ ________ ____ based on earnings and sales. Not measurable and not a____. When collected and recorded, Debit c___ and credit ______. |
|
|
Term
Special assessments
certain |
|
Definition
S______ _______-levied against c______ properties that receive a particular benefit that not all taxpayers receive.
Sidewalk for specific neighborhood example. |
|
|
Term
|
Definition
| L_______ __ P________-revenue from issuing these to businesses, liquor sales, building, and zoning variances. Recorded on ____ basis. |
|
|
Term
Intergovernmental
receivable
revenue
accrual |
|
Definition
| Revenues from I________-includes grants and other financial assistance from higher levels of _______. Usually recognized when time and eligibility requirements have been met. Measurable and available debit R____ and credit r____. Use _____ method. |
|
|
Term
Charges for services
services
measurable |
|
Definition
| C______ for S_____- revenue from recreational s_____ (golf course) and building inspections. Not m_______. |
|
|
Term
fines
forfeits
fines
forfeits |
|
Definition
Revenues from F___ and F_____
F____ are assessed by the courts. F______ are deposits or bonds made by contractors, accused felons, and others to assure performance on contracts or appearance in court. |
|
|
Term
binding
recorded
actual
adjusted |
|
Definition
Governmental Funds-Budget.
The budget is legally b____, is r_____ and is compared to a_____. Budget can be a______ for new information as it arises. |
|
|
Term
| estimated revenue, actual, encumbrances |
|
Definition
| Budget accounts include E____ _______, A______, and E______. |
|
|
Term
|
Definition
| __________ - legal authorization to incur liabilities for specific purposes. (by P______). |
|
|
Term
|
Definition
| _________ - estimated amount recorded for purchase orders, contracts, etc. |
|
|
