Chapter 13

Question 0

FOPP CH13:

What is the level of funding to maintain all services at current levels, including adjustments for predictable cost changes?

Answer 0

Base budget

Question 1

FOPP CH13:

What is an itemized summary of estimated or intended revenues and expenditures, generally for one year?

Answer 1

Budget

Question 2

FOPP CH13:

What is the standard setting agency for governmental accounting?

Answer 2

Government Accounting Standards Board (GASB)

Question 3

FOPP CH13:

Fire Dept expenditures are broken down into 3 areas.

Answer 3

Personnel costs - salaries
Operating costs - fuel
Capital expenditures - new stations

Question 4

FOPP CH13:

More than _____% of the annual budget is spent on personnel costs? Some departments spend as much as ____% on salary & benefits.

Answer 4

90%

97%

Question 5

FOPP CH13:

What budget covers the basic expenditures that support the day to day delivery of municipal services?

Answer 5

Operating budget

Question 6

FOPP CH13:

When a budget needs to be trimmed down, where is usually the first area to be considered?

Answer 6

Operating budget

Question 7

FOPP CH13:

This refers to the purchase of durable items that cost more than a threshold amount and will last for more than one budget year.

Answer 7

Capital Expenditures