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.
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.
Assessed Valuation (Unsecured)
The remainder of the assessment roll that is not on the secured roll. The taxes on the unsecured roll are a personal liability of the assessed owner.
Assessment District (AD)
A separate unit of government that manages specific resources within defined boundaries. It can raise predictable funds, such as taxes, user fees or bonds, directly from the people who benefit from the services. An official inspection of the City’s accounts, typically by an independent body to ensure operations are in conformity with generally accepted accounting principles.
Audit
FY 2019-21 Proposed Budget
545
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