Gov Exam I

Front 1

appropriations

Back 1

legal authorization to expend cash or other financial resources for goods, services, and facilities to be used for specified purposes in amounts not to exceed those authorized for each purpose.

Front 2

encumbrances

Back 2

accounts used to record the estimated amount of purchase orders, contracts, or salary chargeable to an appropriation

Front 3

capital projects fund

Back 3

created when money received from sources is restricted legally or morally to the purchase or contruction of specified capital assets

Front 4

capital improvements fund

Back 4

account used for the specific purpose of financing major repairs to existing capital assets or for replacement of components

Front 5

special revenue fund

Back 5

funds used to account for revenues from specific taxes or other earmarked revenue sources that by law are designated to finance particular functions or act of government.

Front 6

General Fund

Back 6

used to account for all transacations of a gov. that are not accounted for in another fund

Front 7

debt service fund

Back 7

fund established to finance and account for the payment of interest and principal on all tax supported, debt, serial and term, including that payable from special assessments

Front 8

permanent fund

Back 8

gov type funds used to account for public purpose trusts for which the earnings are expendable for a specified purpose, but principal amount is not expendable

Front 9

expenditure

Back 9

recorded when liabilities are incurred pursuant to authority given in a appropriation

Front 10

fiduciary funds

Back 10

any fund held by a gov. in a ficudiary capacity for an external party (trust/agency fund)

Front 11

agency fund

Back 11

consisting of resources received and held by government as an agent for others

Front 12

enterprise fund

Back 12

established to finance and account for the acquisition, operation, and maintenance of gov. facilities and services that are pre-dominantly or entirely maintainenced by user charges

Front 13

fund

Back 13

fiscal and accounting entity with a self balancing set of accounts recording cash and other financial resources together, segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations restrictions, or limitation

Front 14

internal service fund

Back 14

established to financing and account for services and commodities furnished by a designated department or agency to other departments and agencies within a single gov or other gov.'s

Front 15

program revenue

Back 15

revenue linked to a specific function or program and reported separately from general revenue on the gov-wide statement

Front 16

restricted fund

Back 16

to account for assets the use of which is limitd by the requirements of the donors or grantors

Front 17

general purpose gov.

Back 17

provide many categories of services to residents. (police, fire protection, sanitation, construction and maintenance of roads, streets, and bridges.

Front 18

special purpose gov.

Back 18

provide only a single function or limited number of functions. have power to levy and collect taxes and raise rev (education, drainage, flood control)

Front 19

primary gov.

Back 19

state gov or general purpose loval gov or special purpose gov with a seperately elected governing body legally seperated and fiscally independent of other state and local gov.

Front 20

proprietary funds

Back 20

ex. internal and enterprise funds