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Glossary of Terms <br />Assessment — Refers to a financial lien placed by the City against a property to pay for the property's <br />fair share of any street or utility improvement. <br />Asset — generally refers to property, plant, or equipment that has an extended usefal life and therefor(!- <br />can be relied upon to assist 'in the provision of programs or services beyond the current calendar year. I <br />Gm'onds — A method of borroMqng (similar to a loan) used by the City to finance the construction or <br />ceconstruction of City facilities or infrastructure. See also, 'Debt Service'. <br />Budget — Refers to the City's planned use available monies for the upcoming fiscal year. The budget is <br />considered 'balanced' when expected revenues are equivalent to planned expenditures. <br />4 <br />Capital Improvement Plan - A long-term projection of all planned capital replacements of City <br />facties, street and utty infrastructure, vehicles and rolling stock, and other improvements. <br />Charges for Services include administrative charges between funds, wireless antenna lease revenues, <br />recreation program fees, user charges fon water, sanitary sewer, storm drainage, and solid waste <br />recycling fees, and greens fees for the municipal golf course. <br />Community Deve1opment includes planning and economic development, code enforcement, and <br />geographic information systems. <br />Comprehensive Plan - A defined land use and zonm'g plan that was developed and placed into <br />Fuseville's City ordinances,, <br />L r <br />Nebt Management Plan — A schedule of the City's debt service payments and an overview of the <br />general principles that governs the issuance of City debt. <br />Webt Service — Refers to the principle and interest paid on bonds used to finance City facty ani? <br />4 <br />inftastructure improvement projects. <br />F h. <br />k,epreciation - The systematic allocation of the cost of an asset over its useffil life. <br />L-Knterprise Operations M'cludes water, sanitary sewer, storm drainage, solid waste recycling, and thi <br />municipal golf course operations. <br />Financial Plan — refers to the long-term financial picture based on the general direction of the City, 10- <br />Year Capital hnprovement Plan, and general budgeting decisions. The Plan also forecasts financial <br />impacts on residents based on projected trends. <br />Fines & Forfeits include fines paid for traffic violations and criminal offenses occurring Within the City <br />li-Wifts. <br />IL P <br />