City Council Agenda and Packet 2019 09 24 SP

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• Capital Budget — the first two years of the FivoSix-Year Capital Improvement Plan. These amounts are automatically included in the annual biennial budget process. • Capital Improvement Plan (C-I-P) — a plan that describes the capital projects and associated funding sources the City intends to undertake in the next fiscal year plus four additional future ycarsduring the next six years. • Collateral — securities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies (Public Deposit Protection Act; CRS 11-10.5-101 et seq.) • Current Refunding — a refunding in which the outstanding bonds are retried within 90 days after the new bonds are sold. • Competitive Bond Sale — bonds are marketed to a wide audience of investment banking (underwriter) firms. Sealed bids are submitted at a specific date and time and the underwriter is selected based on its bid for the City's securities. • Dealer— as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account. • Delivery -versus -Payment — delivery of securities with an exchange of money for the securities. Delivery -versus -receipt is delivery of securities with an exchange of a signed receipt for the securities. • Full Accrual Basis of Accounting — under this basis of accounting, revenue is recognized when earned and expenses are recognized when the liability is incurred. • Fund — an independent fiscal and accounting entity with a self -balancing set of accounts recording cash and/or other resources, together with all related liabilities, obligations, reserves, and equities, which are segregated for the purpose of carrying out specific activities or attaining certain objectives. • Fund Balance — the difference between (a) assets and deferred outflows of resources and (b) liabilities and deferred inflows of resources in a governmental fund. Used as a measure of reserves in governmental funds. o Non -spendable Fund Balance — fund balance that is inherently non -spendable, such as the long-term portion of loans receivable, the principal of an endowment, and inventories. o Restricted Fund Balance — fund balance that has externally enforceable limitations on its use, imposed by parties such as creditors, grantors, or laws and regulations of other governments. o Committed Fund Balance — fund balance with limitations imposed by the government itself at its highest level of decision making. For example, for the City of Louisville, this 47