Finance Committee Agenda and Packet 2020 12 15

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• Capital Budget — the first two years of the Six -Year Capital Improvement Plan. These amounts are automatically included in the annual biennial budget process. • Capital Improvement Plan (C-/-P) — a plan that describes the capital projects and associated funding sources the City intends to undertake during 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 would be limitations imposed on fund balance by the Council through an ordinance or resolution.