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GLOSSARY OF TERMS <br /> FUNDED PROJECT <br /> ' DEBT SERVICE Funded projects are those capital projects where <br /> The amount of money needed to make periodic resources necessary to complete them have been <br /> payments on the principal and interest on an out- identified. Both unfunded and funded projects are <br /> standing debt. Debt service is usually expressed as included in the CIP to provide a complete listing of <br /> an annual amount. capital needs throughout the City. See also <br /> "Unfunded Project." <br /> ENTERPRISE FUND <br /> A fund established to account for operations that GENERAL CAPITAL PROJECTS FUND <br /> are financed and operated in a manner similar to Capital fund used to account for all financial <br /> private business enterprises. They are usually self- resources for capital activities, except those required <br /> supporting. In Eugene, the airport operations are to be accounted for in another fund. Source of rev- <br /> accounted for as an Enterprise Fund, for example. enue is the General (operating) Fund of the City. <br /> Only expenditures related to capital activities are <br /> EXPENDITURES made from this fund. <br /> Expenditures include current departmental expen- <br /> . ditures (personnel services, services and materials, GENERAL FUND <br /> capital outlay) and nondepartmental expenses (in- General operating fund of the City. The General <br /> terfund transfers, loans, debt service, contingency, Fund is used to account for all financial resources <br /> _ reserves, balance available and unappropriated end- except those required to be accounted for in another <br /> ing fund balance). fund. Principal sources of revenue are property tax- <br /> es, charges for services and intergovernmental rev- <br /> FISCAL YEAR enues. Primary expenditures of the General Fund <br /> A 12-month period that determines the time frame are made for public safety, parks, recreation and cul- <br /> for financial reporting, budgeting and accounting. tural services and general administration. <br /> At the end of the fiscal year, the financial position <br /> and results of operations are determined. For the <br /> City of Eugene, the fiscal year is July 1 to June.30. GENERAL OBLIGATION (G.O.) BOND <br /> A bond that is secured by the pledge of a govern- <br /> _ FUND ment's "full faith and credit". General obligation <br /> A fiscal and accounting entity to record cash and bonds issued by a local government are secured by <br /> other financial resources, related liabilities, the government's ad valorem taxing power, which is <br /> balances and changes, all segregated for specific, typically not subject to a constitutional limitation on <br /> regulated activities and objectives. Each fund is the tax rate. In Oregon, Measure 5 and Measure 50 <br /> established for the purpose of carrying out specific define those general obligation bonds that are <br /> activities or to attain certain objectives in excluded from the M5 tax rate limits. <br /> accordance with legal restrictions or agreements. <br /> INFRASTRUCTURE <br /> FUND TYPE Public domain fixed assets such as roads, bridges, <br /> There are seven generic governmental fund types: streets and sidewalks and similar assets that are im- <br /> General, Special Revenue, Debt Service, Capital movable and of value only to the government unit. <br /> Projects, Enterprise, and Internal Service Funds. <br /> INTERGOVERNMENTAL REVENUE <br /> <br /> ' The City receives grants from the federal, state and <br /> local governments, as well as a share of the state's <br /> cigarette and liquor taxes. <br /> City of Eugene 2006 - 2011 Capital Improvement Program <br /> 173 <br /> <br />