GLOSSARY
Local Agency Formation Commission
Reviews proposals for the formation of new local governmental agencies and changes of organization in existing agencies (www.oclafco.org).
Local Agency Investment Fund (LAIF)
A voluntary program created by statute in 1977 in which participating agencies (local governments and special districts) invest public funds.
Long-Term Debt
Debt with a maturity of more than one year after issuance.
Major Fund
A fund that comprises more than 10 percent of total citywide budgeted revenues and transfers-in and/or 10 percent of total budgeted appropriations and transfers-out. Please see the “Major Funds – Summary by Budget Category” tables presented in the Budget Summary chapter.
Measure M
County-wide sales tax measure used to fund a variety of transportation-related projects.
Measure M - Growth Management Area (M-GMA)
A county grant program that provides funding for projects that benefit the greatest number of jurisdictions within a designated growth management area (GMA) in Orange County. The primary objective of this program is to address current traffic deficiencies and the cumulative regional traffic impacts of development not addressed by specific project mitigation and existing system deficiencies. The non-competitive portion of the sales tax revenue generated through Measure M that is "turned back” to the City. Funds are restricted to circulation related projects (street, traffic signal, etc.) and are received quarterly.
Measure M – Turnback
Memorandum of Understanding (MOU)
An agreement outlining the terms of employment entered into between the City and employees of various bargaining units.
Modified Accrual Basis of Accounting
Basis of accounting according to which (a) revenues are recognized in the accounting period in which they become available and measurable and (b) expenditures are recognized in the accounting period in which the fund liability is incurred, or measurable, except for un-matured interest on general long-term debt and certain similar accrued obligations, which should be recognized when due. A permit program authorized by the Clean Water Act that controls water pollution by regulating point sources that discharge pollutants into waters of the United States.
National Pollutant Discharge Elimination System (NPDES)
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FY 2019-21 Proposed Budget
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