Budget Flashcards

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1
Q

Operating Budget

A

Everyday expenditures

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2
Q

Capital budget

A

One-year budget for capital expenditures (long-term)

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3
Q

Line Item Budgeting

A

Projecting budget and adding inflation. Easy for public to understand but short-term focus.

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4
Q

Planning, Programming, Budgeting Systems (PPBS)

A

Planning through accomplishing goals set by department. Good for evaluating progress but time consuming and goals must be measurable.

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5
Q

Zero-Base Budgeting

A

Consider every aspect of operation. Effective but time consuming.

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6
Q

Performance-based Budgeting

A

Links funding to performance measures. Good for creating standards but time consuming and goals must be measurable.

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7
Q

Funding: Pay-As-You-Go

A

Fund capital projects with current funds.

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8
Q

Funding: Reserve Funds

A

Fund capital projects with saved money.

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9
Q

Funding: General Obligation Bonds

A

Use voter approved tax revenue to back debt. Can come from a variety of sources.

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10
Q

Revenue Bonds

A

Use fixed source of revenue to back dept. - full faith backing of project

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11
Q

Tax Increment Financing

A

(TIF) Allows area to have revenue increase to pay for capital projects. Usually in an area that is “blighted.” Use the anticipated increase in revenue from property tax to pay bonds.

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12
Q

Lease-Purchase

A

Rent-to-own so no borrowing needed.

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13
Q

Special Assessments

A

Allows special group to assess cost of public improvement (i.e. free street lights v. pay fee for fancy ones)

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14
Q

Taxes: Progressive

A

Tax rate increases as income rises

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15
Q

Taxes: Proportional

A

Tax rate is the same regardless of income.

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16
Q

Taxes: Regressive

A

Tax rate decreases as income rises.

17
Q

Intergovernmental Transfer

A

State taxes shared with local government.

18
Q

Impact Fees

A

Fees developers must pay for services provided by the local government.

19
Q

Sales Tax

A

If area has sales tax, retail stores will pop up along the boundary.

20
Q

Income Tax

A

If area has income tax, the area will be employment heavy (i.e. lots of office parks).

21
Q

No Sales or Income Tax

A

If an area has neither tax, it is likely burdened by vacant land and the lack of taxes is to incentivize land development.

22
Q

Business Improvement District

A

Businesses tax selves to pay for improvements.

23
Q

Participatory Budgeting

A

Community members decide how funds should be budgeted.

24
Q

Capitalization Rate

A

Rate of return on investment.

25
Q

Fiscal Impact Analysis

A

Projects cash flow to the public sector.

26
Q

Economic Impact Analysis

A

Projects cash flow to the private sector.