Laserfiche WebLink
City of St Anthon - 45 <br /> Financial Pla <br /> FINANCIAL MANAGEMENT <br /> • GLOSSARY OF TERMS <br /> AD VALOREM TAX ...............................A tax, which is based on value, such as <br /> property taxes. <br /> AGENCY FUND.....................................A fund used to account for assets held by the <br /> City as an agent for other government units of <br /> employees. (Current agency funds are for <br /> deferred compensation for our employees and <br /> for the South Metro Drug Task Force). <br /> AUDIT.....................................................An annual third party review of financial <br /> operations and procedures required by State <br /> Statutes. <br /> BONDS.............. <br /> .....................................A written promise to pay a sum of money at <br /> specified dates, including interest at a <br /> designated time. <br /> BONDED DEBT.....................................The portion of City debt represented by <br /> outstanding bonds. <br /> BUDGET ....................................A financial operations plan of proposed <br /> expenditures for a given period of time and the <br /> proposed revenues to finance them. Proposed <br /> expenditures must equal proposed revenues. <br /> CAPITAL OUTLAY ................................Expenditures resulting from the acquisition of <br /> fixed assets. <br /> CAPITAL IMPROVEMENT <br /> BUDGET ................................................A budget created to account for financial <br /> resources to be used for the acquisition or <br /> construction of major capital projects. <br /> COMPREHENSIVE ANNUAL <br /> FINANCIAL REPORT (CAFR)...............The official annual financial report which <br /> includes combined financial statements, <br /> • supporting schedules, supplementary <br /> information, extensive introductory information, <br /> and a statistical section. <br /> i <br />