GLOSSARY
TERMS
Accrual Basis of Accounting
A method of accounting that recognizes the financial effect of transactions, events, and inter-fund activities when they occur, regardless of the timing of related cash flows.
Adjusted Budget
The adopted budget plus any modifications (increases, decreases and transfers) approved by the City Council during the fiscal year.
Agency Fund
Any fund that a government or government unit holds on behalf of another.
Air Quality Management District (AQMD)
The air pollution control agency for the four-county region including Los Angeles and Orange counties, as well as parts of Riverside and San Bernardino counties (www.aqmd.gov). A plan developed by the AQMD that serves as the blueprint for all the future rules necessary to bring the area into compliance with federal and state clean air standards.
Air Quality Management Plan (AQMP)
Allocation of Funds
Setting aside funds for a specific purpose or program. An allocation of funds makes them available for expenditure.
Appropriation
A specific amount of money authorized by the City Council for an approved work program.
Annual Comprehensive Financial Report (ACFR)
The summarization of the City's financial activity for the previous fiscal year which also includes a summarization of significant milestones that were accomplished during the year by department, fiscal policies, and statistical information. The ACFR is prepared by December of each year.
Arterial Highway Financing Program (AHFP)
A Measure M funded program for pavement rehabilitation projects on arterial roadways in the county.
Assessed Property
The value set upon real estate or other property by the County Tax Assessor.
Assessed Valuation
A measure of the taxable value of property located within the City against which the tax rate is applied.
Assessed Valuation (Secured)
That part of the assessment roll containing state assessed property and are a lien on real property sufficient to secure payment of taxes.
FY 2023-25 Adopted Budget
487
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