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AICP Additional Flashcards: Plan Making and Implementation > Economics and Finance > Flashcards

Economics and Finance Flashcards

1
Q

NAICS

A

The North American Industry Classification System - used by business and government to classify and measure economic activity in Canada, Mexico, and the US. Six-digit code.

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2
Q

UDAG

A

Urban Development Action Grant 1978-1989 grants to cities and urban counties which are experiencing severe economic distress to help stimulate economic development activity needed to aid in economic recovery

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3
Q

Economic base analysis

A

looks at basic and non-basic economic activities

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4
Q

Location Quotient formula

A

local employment in industry “X” divided by total employment in area over national employment in industry “X” divided by total national employment

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5
Q

Basic activities

A

economic activity that can be exported, such as automotive manufacturing

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6
Q

Non-basic activities

A

economic activity that can not be exported, such as hair salons

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7
Q

Four main parts of economic development

A
  1. Retaining existing business and industry 2. attracting business 3. nurturing small and start-up business 4. developing and financing facilities that help capture business or recycle local funds
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8
Q

Economic development focused on ____ through the 70s but now focuses on ______

A

manufacturing jobs through the 70s but is shifting now toward service sector jobs, smaller businesses, and entrepreneurial ventures

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9
Q

10 leading economic indicators

A

unemployment, housing starts, Consumer Price Index (a measure for inflation), industrial production, bankruptcies, Gross Domestic Product, broadband internet penetration, retail sales, stock market prices, and money supply changes

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10
Q

Major geographic shifts based on economic activity

A

Move from older manufacturing towns to sun belt; Move from urban core to suburbs and exurbs - now in the midst of the back to the city movement; Large metro areas to non-metro communities

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11
Q

Small Business Administration (SBA)

A

makes loans directly to businesses and acts as a guarantor on bank loans. Also makes loans to victims of natural disasters, works to get government procurement contracts for small businesses assists businesses with management, technical and training issues.

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12
Q

Grant Thornton

A

business climate rankings of the 48 states - NC rated top business climate

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13
Q

Push analysis

A

determines sales capacity of a market area; it determines if the introduction of a new business will generate additional customers.

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14
Q

If location quotient is greater than 1

A

area is exporting this good or service

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15
Q

If location quotient is less than 1

A

area is importing this good or service

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16
Q

Shift-share technique

A

Allocates a portion of the projected expansion to sub-regions or population centers based on the center’s present share of the employment

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17
Q

Title 32 District

A

metro district to provide ambulance services, fire protection, hospital, mosquito control, park and recreation, safety protection, sanitation, street improvements, and television. General Improvement District

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18
Q

Gross national product and gross domestic product

A

value of all final goods and services produced in a country in one year (gross domestic product) plus income that residents have received from abroad, minus income claimed by nonresidents

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19
Q

Operating budget

A

Everyday expenditures, keeping the lights on, employees, utility bills, etc.

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20
Q

Capital budget

A

Long-term purchases, such as buildings, infrastructure , etc.

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21
Q

Capital Improvement Program

A

5-10 year plan for things that will be completed over time, how they will be financed, etc.

22
Q

Line-item budgeting

A

basic budget, costs of activities projected and inflation is added.

23
Q

PPBS budgeting

A

Planning, Programming, Budgeting, Systems - based on accomplishing goals set by each department

24
Q

ZBB

A

Zero Based Budgeting - department starts with zero, and every request for funds is evaluated for it’s impact on “the mission.” Decision packages are created.

25
Q

Performance Based Budgeting

A

Funding increases as departments meet set goals i.e. the planning department gets more money for plan review as they successfully review a certain number of plans.

26
Q

Pay as you go finance

A

Financing where budgetary restrictions demand paying for expenditures with funds that are made available as the program is in progress

27
Q

Reserve funds

A

funds reserved for future purchases

28
Q

Revenue Bond

A

use revenue from the thing you bonded for to pay off the bond. Good example is baseball stadium

29
Q

TIF

A

increase in tax revenue used to construct improvements

30
Q

Special Assessments

A

specific group is assessed to pay for a specific improvement i.e. upgraded landscaping on a specific city street. Street residents are assessed to pay for the upgrades.

31
Q

Lease purchase

A

“rent to own” when government doesn’t want to borrow money to fund big improvements, they are ready to pony up i.e. new park equipment

32
Q

Progressive tax

A

rate increases as income rises - i.e. tax the rich more than the poor. Income tax brackets

33
Q

Proportional tax

A

rate is equal regardless of value - i.e. property tax is 10% if you own a million dollar house or a 100,000 dollar house

34
Q

Regressive tax

A

Tax rate decreases as income rises - i.e. cigarettes - I have $10 of disposable income, and tax is $1. it’s 10% of my budget. If I have $20 of disposable income, and tax is $1, tax is 5%. Person with more money has a decreased rate.

35
Q

E government

A

The use of information and communication technology to provide and improve government services, transactions and interactions with citizens, businesses, and other arms of government.

36
Q

Telecommunications Act

A

1996 Clinton the first major overhaul of US telecommunications law in nearly 62 years, amending the Communications Act of 1934

37
Q

New Markets Tax Credits

A

provides tax credit incentives to investors for investing in communities that are economically distressed or have low-income populations

38
Q

Telecom hotels

A

A building that houses hundreds and thousands of web servers for web hosting organizations, large enterprises, and other service organizations

39
Q

Coupon rate

A

It is the interest rate that a bond issuer will pay to the bondholder. If you hold $10,000 nominal of a bond described as a 4/5% loan stock, you will receive $450 in interest.

40
Q

NAFTA

A

North American Free Trade Agreement

41
Q

Input-output analysis

A

Shows how the output of one industry is an input to each other industry

42
Q

Fiscal impact study

A

efforts to estimate the budgetary effects of various types of land uses on local governmental jurisdictions or other local service providers

43
Q

Average per capita method

A

Take the budget for a town, divide by the number of constituents to determine per capita expenses for the town. Take how many people new development will bring, multiply by average to determine entire fiscal impact.

44
Q

Adjusted per capita method

A

Adjusts average based on expectations (subjective)

45
Q

Disaggregated per capita method

A

Assumes fiscal impact based on costs of different land uses i.e. retail vs. residential

46
Q

Dynamic method fiscal study

A

uses statistics and time, accounts for sales tax

47
Q

Cost-benefit analysis

A

ratio of cost to complete project vs. financial benefit of project. Everything must be put in monetary value, which is hard with environmental and social

48
Q

Cost-effective analysis

A

CE ratio = (cost new strategy - cost current practice)/(effect new strategy - effect current practice)

49
Q

Revolving loan fund

A

a pool of public and private sector funds that recycles money as loans are repaid

50
Q

General Obligation bonds

A

bonds are issued after approval by voters. Tax revenue is then used to pay back bonds.

AICP Additional Flashcards: Plan Making and Implementation (7 decks)

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