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CHART OF ACCOUNTS: The. classification system used by a government entity to organize the accounting for various funds, CONSUMER PRICE INDEX (CPI): A statistical description:of price levels provided b ythe U.S. Department of Labor. The index is used as a measure of the increase in the cost of living {i.e.,.economic: inflation). C.ONTINGENCYs Budget for expenditures which cannot be placed in departmental budgets, primarily due: to uncertainty about the level or timing of expenditures. when the budget is adopted. The. contingency also serves as a hedge against shortfalls in revenues or unexpected expenditures. CURRENT: A term which, applied to budgeting and accounting, designates the operations of the present fiscal per[od.as opposed to past or future periods. DEBT: An obligation resulting €tom the borrowing of money or from the purchase of goods and services. DEBT LIMIT: The maximum amount of gross or net debt, which.is legally permitted.. DEBT MARGIN: The amaunt.of available debt; which may be issued by a governmental unit before reaching its debt limit. DEBT SERVICE. FUNDS: To account for the accumulation of resources for. payment of genera[. long-term debt.. DEPARTMENT: Basic organizational unit of government, responsible for carrying out related functions. DEPRECIATION:. Expiration in.the service life of capital assets attributable towear and tear, deterioration, action .of the physical elements., inadequacy or obsolescence. DISTINGUISHED BUDGET PRESENTATION AWARDS PROGRAM: A voluntary awards program administered by the Government Finance Officers Association to encourage governments. to prepare effective budget documents. EFFECTIVE BUYING INCOME (EBI): A statistical measure of buying power of an area or group of individuals. ENTERPRISE FUNDS: To account for operations that are financed and operated in a manner similar to a private business enterprises, where. the intent of the governing body is that the cost of providing services are to be recovered. primarily. on a. user -charge basis to the general public. ESTIMATED MARKET VALUE: Represents the selling price of a property if it were .on the market: Estimated. market value is converted to tax capacity before property taxes are.levied.,. EXPENDITURE: Whereaccounts are kept on the accrual or modified accrual basis of accounting, the cost of goods received or services rendered whether cash payment have been .made .or not. Where accounts are kept on a cash basis, expenditures are recognized only when the cash payments for the above: purposes are made. FINES: Revenues from penalties imposed for violation of laws or regulations.