Budget & Finance (Day 3) Flashcards
______________ budget considers a purpose of a program as a unit.
Program Budget
______________ ties the budget to specific performance objectives for each program.
Performance Budget
________________ requires that existing programs and activities should not automatically be funded, but rather should have to justify their continuation as part of the annual budget cycle.
Zero Based Budgeting
______________ links resource allocation with managerial performance and strategic plans, along with annual performance plans.
New Performance Budgeting
______________ combines a program budgeting model with short and long term planning targets, performance measurements. It serves as a long-term planning tool so that decision makers are made aware of the future implications of their actions.
Planning-Programming-Budgeting-System (PPBS)
_________________ is a democratic process in which community members decide how to spend part of a public budget.
Participatory budgeting
_____________ is the largest revenue stream for most local governments.
Property Taxes
What kind of tax is mostly impacted by a variety of economic factors such as inflation, population, tourism, etc.?
Sales Tax
____________ pledge the “full faith and credit” of the jurisdiction, and commit property taxes by voter referendum.
General obligation bond
____________ pledge specific non-ad valorem tax revenues of self-supporting enterprise.
Revenue Bond
Votes from the public is required in what kind of capital financing?
General Obligation bond
____________ is used to provide public facilities needed to support new private development, it is secured by increased tax revenue produced by new private development.
Tax Increment Financing.
_____________ imposes a levy on property, individual lots, or all property in a designated neighborhood or district to pay for improvements.
Special Assessment District
_____________ is when property owners pay an additional tax to fund activities that benefit their district.
Business Improvement District
True/False: CRA funds can be used for redevelopment purposes and/or to leverage bonds.
True
_____________ is an economically depressed area that has been targeted for revitalization by a city or state through tax abatement and other incentives given to companies that locate or expand their operations within the zone.
Enterprise Zone
_______________ is an economically distressed rural & urban zones designated by USDA & HUD.
Empowerment Zone
This program was created under the Clinton administration to help
distressed areas be more competitive with more prosperous areas.
A. Special District
B. Special Assessment
C. Coverage Area
D. Enterprise Zone
D.
This is an independent unit of local government that is usually
created by referendum and organized to perform specific
governmental functions:
A. Special District
B. Coverage Area
C. Special Assessment
D. Enterprise Zone
A
True/False: Any acquisition of land for a public purpose is a captial project?
True
True/False: Any construction of a new facility or a major addition to a facility is a captial project.
True
True/False: A CIP is updated annually and/or biannually.
True
What are the first two steps in a CIP process?
Identify needs and funding
What are the last three steps in a CIP process?
Develop a 5 year CIP Plan, develop an annual capital budget and then implement projects and programs.
What kind of loan is seed money established; loans made &
repaid; funds re-loaned to next applicant?
Revolving Loan Fund
Which program is likely to be used to address the goal of establishing an impact fee ordinance?
A) capital improvement program
B) inclusionary housing program
C) impact fee program
D) growth phasing program
A.
The application of performance zoning does NOT include:
A) Providing flexibility in the number and design of units
B) Permitting any use that meets a specific set of standards
C) Requiring impacts analyses for a proposed development
D) Restricting specific uses on a property
D.
Zombie subdivisions (Select all that apply):
I. Pose threats to safety and health
II. Commit communities to significant, long-term service costs
III. Were predominately developed illegally
IV. Are prime targets for new development planning
I, II and IV
