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Captains Cert Part II > BUDGET > Flashcards

BUDGET Flashcards

0
Q

what accounts for financial resources used for aquisition or construction of major assets

A

capital project funds

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1
Q

what 2 things are needed to spend city money

A

budget capacity

cash or the promise of cash

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2
Q

what accounts for the accumulation of resources that will be used to pay for general long term debt

A

debt service fund

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3
Q

what is used to report any activity for which a fee is charged to external users for goos and services

A

enterprise funds

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4
Q

what accounts for the financing of goods and services provided by one dept or agency to other internal depts of a governmental agency. fees are charged with the intent to break even

A

internal service fund

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5
Q

what is an encumbrance

A

and encumbrance is a purchase order

it is an obligation not a liability

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6
Q

what 3 sources of revenue constitute the majority of the general fund

A

sales tax 36%
property tax 3%
state revenue sharing 25%

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7
Q

what percentage of TFDs $80 million dollar operating budget come from the general fund

A

93%

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8
Q

what percentage of our general fund budget is personnel

A

89%

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9
Q

what percentage of our general fund is in operations (suppression and medical)

A

85%

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10
Q

how many full time employees are in the FY15 recd budget

A

753.5

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11
Q

how many full time employees are commissioned personnel

A

619

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12
Q

city budget account number system

personnel
services
equipment $5000

A

personnel -100s
services -200s
Equipment $5000 -400s

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13
Q

budget available in equipment replacement program

A

$500-750k covering other needs

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14
Q

mattress life span

A

4 years

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15
Q

turnout life span

A

7 years

16
Q

true or false

items over $50k must go out for bid

A

true

17
Q

true or false

items between $5k-$50k require 3 quotes

A

true

18
Q

true or false

city manager must approve any purchase over $10k

A

true

19
Q

how long is a bid contract good for

A

1 year with up to 4 additional 1-year extensions

20
Q

when a product or service is provided by only one source we can create a contract for that specific vendor we can create a contract and bypass the bid process

A

true

sole source

21
Q

when the department needs a specific brand and no other brand will be acceptable

A

sole brand

22
Q

true or false

maintenance repairs over $10k require funding as maintenance covers wear and tear and the dept covers damage

A

true

Captains Cert Part II (25 decks)

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