Provides the public with a general summary of the most important aspects of the budget, changes from previous years, and the views and recommendations of the City Manager
What is The Budget Message (OR CM transmittal letter)
100
A Tax placed on purchase of goods and services.
What is Sales tax
100
The number of federal income tax brackets
What is 6
100
Shortfall of resources to meet expenditures.
What is a deficit
200
Community Facilities District
What is CFD?
200
A plan to provide for the maintenance or replacement of existing public facilities and assets and for the construction of new ones.
What is Capital Improvement Program
200
The payment of a fee for direct receipt of a service by the party benefiting from the service.
What is a user fee?
200
Rate structure where tax rates are higher for higher-income taxpayers than for lower-income taxpayers
What is Progressive tax
200
Payments of principle and interest on bonds and other debt.
What is debt service
300
TOT
What is Transient Occupancy Tax?
300
Term whereby a governor or chief officer is responsible for preparing a proposed budget and presenting it to the elected body.
What is Executive Budget
300
The primary local source of revenue to fund public schools.
What are property taxes
300
The percentage of U.S. GDP that all government expenditures are today.
What is 36%
300
Programs that guarantee benefits to the sick, the needy or the elderly.
What are entitlements
400
GAAP
What is Generally Accepted Accounting Principles?
400
A document that outlines the future plans of an organization including information on revenues, expenditures, activities and goals.
What is a Budget
400
Fee charged for the privilege of using public rights of way and property within the city for public or private business.
What is a franchise fee
400
Two types of data economists use to measure the size of the economy
What is the total value of goods and services AND the income derived form production of them. (p47-48)
400
An example of a government tax and spend policy that will have significant effects on future generations.
What is affordable accessible healthcare; accumulation of debt, adding entitlement programs, etc
500
LMD
What is Landscape Maintenance District?
500
Type of budget developed every other year.
What is a biennial budget.
500
Secured by the issuer's full faith, credit and taxing power.
What is a General Obligation Bond
500
Dependent on the economic behavior of billions of individuals and the economic decisions of dozens of foreign governments in both underdeveloped and developing nations.
What is U.S. Economic well-being
500
The Treasury Act of 1789 gave this body of the government the authority to draft the first federal budget.