Full-Time Equivalent (FTE)
The ratio of the total number of paid hours during a period by the number of working hours in that pay period. Each employee's group schedule determines the total number of hours worked in a pay period. An accounting entity with a self-balancing set of accounts that is segregated for the purpose of carrying on identified activities or attaining certain objectives in accordance with specific regulations, restrictions, or limitations. Within a fund, financial resources, and activity (assets, liabilities, fund balances, revenues, and expenditures) are accounted for independently. Examples of funds include the general fund and enterprise funds. Organizing the financial records of a municipality into multiple, segregated locations for money. Communities whose accounts are organized according to the Uniform Municipal Accounting System (UMAS) use multiple funds. The difference between assets and liabilities reported in a governmental fund. Also known as fund equity. The fund used to account for most financial resources and activities governed by the normal town meeting or city council appropriation process. The accountant's record of original entry, a general ledger is a set of numbered accounts used to track financial transactions and prepare financial reports. Each account is a distinct record summarizing each type of asset, liability, equity, revenue and expense. A chart of accounts lists all the accounts in the general ledger. When referring to a Collective Bargaining Agreement, this refers to a job grade. Job grades are structured around certain minimum requirements such as education level or years of experience. Related: Collective Bargaining Agreements, Steps
Fund
Fund Accounting
Fund Balance
General Fund
General Ledger (GL)
Grade
Green Team
A sustainability working group within NPS that seeks to promote and increase sustainable practices throughout the district. See www.newton.k12.ma.us/departments- programs/business-finance-planning/sustainability for more information
Homeless Student Transportation
See McKinney Vento Transportation
Indirect Cost
Costs of a service not reflected in the operating budget of the entity providing the service. The matter of indirect costs arises most often in the context of enterprise funds. An example of an indirect cost of providing water service would be the value of time spent by non-
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