Budget
A plan for allocating resources to support particular services, purposes, and functions over a specified period.
Capital Equipment
Equipment including all tangible property other than land and buildings such as computers (hardware and software), rolling stock (vehicles), machinery, other electronic and electrical devices, and furnishings with a useful life of at least two years and a cost above $1,000. A blueprint for planning a community’s capital expenditures that comprises an annual capital budget and a five-year capital plan. It coordinates community planning, fiscal capacity, and physical development. While all the community’s needs should be identified in the program, there is a set of criteria that prioritize the expenditures. Through the Coronavirus Relief Fund, the CARES Act provides for payments to State, Local, and Tribal governments navigating the impact of the COVID-19 outbreak. The CARES Act established the $150 billion Coronavirus Relief Fund.
Capital Improvement Program (CIP)
CARES Act Funding
Any money received by a municipality or its departments whether by cash, check, or electronic transfer.
Cash Receipts
Charter School
Authorized by the Commonwealth of Massachusetts' Education Reform Act of 1993, charter schools are independent public schools that operate under five-year charters granted by the Commonwealth's Board of Elementary and Secondary Education. Once the Board of Elementary and Secondary Education has awarded a charter, the new charter school has the freedom to organize around a core mission, curriculum, theme, or teaching method. It is allowed to control its budget and hire (and fire) teachers and staff. A charter school must demonstrate good results within five years or risk losing its charter in return for this freedom. Chapter 70 refers to the school funding formula created under the Massachusetts Education Reform Act (MERA) of 1993 by which state aid is distributed through the Cherry Sheet to help establish educational equity among municipal and regional school districts. Named for the cherry-colored paper on which they were originally printed, the Cherry Sheet is the official notification to cities, towns, and regional school districts of the next fiscal year’s state aid and assessments. The aid is in the form of distributions, which provide funds based on formulas and reimbursements that provide funds for costs incurred during a prior period for certain programs or services.
Chapter 70 School Aid
Cherry Sheet
-321-
Made with FlippingBook interactive PDF creator