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Metro Budget Glossary

The annual operating budget contains specialized and technical terminology. This glossary defines some of the more common and more important of these terms.

Account Code
The combination of a business unit and object account that classifies all revenues and expenditures within a fund.
Accrual Accounting
A basis of accounting in which revenues are recognized in the period in which they are earned and become measurable, and expenses are recognized in the period incurred instead of when cash is actually received or spent. In such a system, revenue earned in June but received on July 10 is recorded as being received June 30.
Active Position
A position that is budgeted and funded, whether filled or not.
Actual (as opposed to budgeted) revenues and expenditures for the fiscal year indicated.
The state of being answerable; it is demonstrated by being willing and able to tell taxpayers what they are getting for their money in terms of results.
Accounting System
The total set of records and procedures that are used to record, classify, and report information on financial status and operations.
An organizational process or system that converts inputs (money, staffing, technology, and other resources) into outputs (services and other things of value to customers, stakeholders, and citizens); the work performed by an organization to carry out a program for which it is responsible.
Adjusted Budget or Adjusted Final Budget
The final budget passed by the Council with detail adjusted by departments to show how they will operate within the fund-wide and department-wide numbers approved in that budget.
See Department.
To divide an appropriation into amounts that may be encumbered or expended during an allotment period.
A part of an appropriation that may be encumbered or expended during an allotment period.
Allotment Period
A period of time less than one fiscal year in length during which an allotment is effective. Metro generally uses quarterly allotment periods, although some departments use monthly allotments as a management tool.
Annual Budget
A budget for a fiscal year.
To estimate value, particularly of property. If the property is valued for purposes of taxation, the term "assess" means the same thing.
A valuation of property based on current market values.
Appraisal Ratio
The ratio between the appraised value of property and its market value, or the appraised value as a percentage of the market value. A house appraised at $80,000 with a current market value of $100,000 has an appraisal ratio of 80% (80,000/100,000). Using statistical techniques, the state recalculates appraisal ratios for the entire county every two years.
A legal authorization granted by the Council to make expenditures and to incur obligations for specific purposes. An appropriation is usually limited in amount and time when it may be expended. Metro general fund appropriations lapse (expire) at the end of each fiscal year.
Appropriation Ordinance
An ordinance by which the budget appropriations are given legal effect, usually the budget ordinance.
To value property officially for the purpose of taxation.
The portion of a property's appraised value that is taxed, determined by multiplying the appraised value of a property by its assessment rate. For example, a residence appraised at $100,000 has an assessment of $25,000 (25% x $100,000).
Assessment rate
The constitutional percentage that is multiplied by the appraised value to determine the assessment (25% of the appraised value for residential property, 40% for commercial).
Available (Undesignated) Fund Balance
The funds remaining from the prior fiscal year that are available for appropriation and expenditure in the current year.
Authorized Positions
Number of positions authorized in the final budget. This is not a formal part of the budget ordinance, but an implicit management tool to control salary expenditures. Some agencies and elected offices are subject to legal constraints on the numbers of authorized and filled positions.
Balanced Budget
All funds are required to balance. As such, total anticipated revenues must equal the sum of budgeted expenditures for each fund. Revenues are derived from four sources: current revenue charges, increases in existing revenue charges, new revenue sources, and unallocated reserves carried forward from prior years.
Baseline Budget
An estimate of the funding required to continue existing programs at the currently-budgeted levels of service from one fiscal year to the next. It includes various adjustments made to the prior year's budget as appropriate for salary increments, pay plan, longevity, inflation, etc.
A written promise to pay a specified sum of money (the face value or principal amount) at a specified date or dates in the future (the maturity date) together with periodic interest at a specified rate. Metro issues (sells) bonds as one way to finance capital projects. Maturity dates may extend as far as twenty or thirty years after the bonds are issued.
Bond, General Obligation
A bond that is secured by the full faith, credit, and taxing power of the city.
Bond, Revenue
A bond that is paid from the earnings of an enterprise fund.
Bonded Debt
That portion of indebtedness represented by outstanding bonds.
A plan of financial operation containing an estimate of proposed expenditures for a given period (usually a fiscal year) and the proposed means of financing them. Since the budget process includes many "budgets," it is necessary to specify whether the budget being discussed is projected, recommended, final (approved by the Council), or current.
Budgetary Basis
This refers to the basis of accounting used to estimate financing sources and uses in the budget. This generally takes one of three forms: GAAP, cash, or modified accrual.
Budget Calendar
The schedule that is followed in preparing, adopting, and administering a budget.
Budgetary Control
The control or management of an organization in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available appropriations and available revenue.
Budgetary Fund
Any of the primary tax-supported funds:
  • GSD General Fund (10101),
  • USD General Fund (18301),
  • GSD Debt Service Fund (20115),
  • USD Debt Service Fund (28315),
  • GSD Schools Operating Fund (35131), and
  • Schools Debt Service Fund (25104).
The sum of the funds’ expenditures, less transfers between them, is usually cited as the total size of the budget.
Budget Message
The Mayor’s message generally explaining the budget, describing its important features, outlining proposed financial policies, and explaining the reason for significant budgetary changes. This may take the form of a letter, speech, or presentation.
Budget Method
A code that presents whether and how Metro budgets each fund. Common codes are:
  • ANN - Annually budgeted governmental (except capital projects), enterprise, and internal service funds with a fiscal year that is the same as Metro’s July 1 – June 30 standard.
  • MYB - Multi-year budgeted funds, often grants, whose fiscal year crosses Metro’s July 1 – June 30 standard fiscal year and which typically are not included in this document.
  • NOB - Other funds whose spending is authorized by something other than the operating budget.
Budget Ordinance
The legal document that sets the annual operating budget for a fiscal year.
Budgeted Positions
The number of full- and part-time positions funded in June, plus the number of seasonal positions funded at any time in the fiscal year.
Budget Projection
A projection of revenues and/or expenditures for the coming fiscal year(s).
Business Unit
Generally, an eight-digit code that describes an organizational, programmatic, or service unit within a department and fund.
CAFR (Comprehensive Annual Financial Report)
The audited annual financial report of the government, showing financial position and results of operations for the fiscal year, along with schedules detailing other financial matters. The CAFR is prepared in accordance with governmental GAAP, so it is not strictly comparable to the budget ordinance.
Capital Budget
A plan of proposed capital outlays and the means of financing them. Metro's Capital Improvements Budget (CIB) is compiled by the Finance Department and Planning Commission, and approved by the Mayor and Council. It is only a planning document and does not authorize expenditures on its own.
Capital Improvements
Expenditures that are related to the acquisition, expansion, or rehabilitation of an element of the physical plant of the government; sometimes referred to as infrastructure.
Capital Outlays
Expenditures for the acquisition of capital assets such as heavy equipment, machinery, buildings, etc.
Capital Spending Plan
The annual process of selecting and funding a package of specific capital projects to be authorized by the Council.
Capital Program
A plan for capital expenditures to be incurred each year over a fixed period of years to meet capital needs arising from the long-term work program or otherwise. It sets forth each project or other contemplated expenditure in which the government is to have a part and specifies the full resources estimated to be available to finance the projected expenditures.
Certified Tax Rate
After reappraisal, the property tax rate that equates total current property tax revenues to those of the previous year's receipts plus normal growth. TCA 67-5-1701 provides that reappraisals cannot by themselves increase Metro’s revenues. So, for years in which a reappraisal is implemented, the certified rate forms a basis for gauging the amount of any tax increases. This assures that tax increases are not hidden within post-reappraisal tax rates, but will be known to the public. The certified rate is calculated using state forms and guidelines and is approved by the state Board of Equalization and the Council.
The University of Tennessee’s Center for Business and Economic Research, which has assisted the Department of Finance in forecasting certain revenues for the budget.
The federal Congressional Budget Office.
Class Code
A code number assigned to positions within the city’s classification and compensation plan.
Commercial Paper
a form of note (q.v.) with generally a shorter term and more flexible terms of issuance and payment.
Component Unit
An organization that is legally separate from Metro, but Metro has the ultimate financial responsibility for the organization (i.e. if there was financial trouble, Metro would have to step in). They are not generally presented as part of the overall Metro budget, either in the budget ordinance or in this book. Component units include:
  • Nashville District Management Corporation
  • Sports Authority
  • Metropolitan Development and Housing Agency (MDHA)
  • Electric Power Board (Nashville Electric Service, NES)
  • Metropolitan Transit Agency (MTA)
  • Nashville Thermal Transfer Corporation
  • Metropolitan Nashville Airport Authority
  • Metropolitan Nashville Hospital Authority (General and Bordeaux Hospitals)
  • Emergency Communications District
  • Industrial Development Board
More information on these component units is available in Note 1 of the CAFR.
Constant or Real Dollars
The presentation of dollar amounts adjusted for inflation to reflect the real purchasing power of money as compared to a certain past point in time.
Contingency Account
Funds set apart to provide for unforeseen expenditures or for anticipated purposes of uncertain amounts.
Contingency for State, Federal, or Other Reimbursable Program Funds
An account in the budget ordinance that allows transfer of new, unbudgeted grants and other reimbursable funds into the general funds of departments’ budgets without separate Council appropriation. It is budgeted in expenditure account 01101299.590000 and offset by estimated revenue in revenue object account 406100.
Continuation Budget
A budget at a level of funding required to maintain current service levels during the coming year.
The amount of resources required for a business program, product, activity or service to produce an output, regardless of where the resources are accounted for:
  • Direct costs can be identified specifically with a particular final cost objective (e.g. direct service, program, or product) and usually appear in the budget of the program that provides the product or service.
  • Indirect costs are incurred for a common or joint purpose benefiting more than one cost objective (e.g. direct service, program, or product) but are not readily assignable to the cost objectives specifically benefited; they may be found elsewhere in the budget of the department that provides the product or service, or in the budgets of other departments that support that department.
  • Full cost or total cost is comprised of the allowable direct cost of the program, plus its allocable portion of allowable indirect costs, less applicable credits.
Cost Allocation Plan
The documentation that identifies, accumulates, and allocates or develops billing rates based on the allowable costs of centralized services. The costs of these services may be allocated or billed to users or funding sources (such as grantors). A departmental cost allocation plan allocates a department’s central costs to its programs. A local government cost allocation plan, or LOCAP, allocates the costs of central governmental units to other departments and agencies within the government that the central units serve.
Current Year
The fiscal year in progress.
Debt Service
(1) Repayment of principal and interest on outstanding debt (bonds, notes, and commercial paper). (2) The amount of money required for such repayments.
Debt Service Fund
A fund established to account for the accumulation of resources for, and the payment of, debt service.
(1) The excess of the liabilities of a fund over its assets. (2) The excess of expenditures over revenues (or, in proprietary funds, the excess of expense over income) during a fiscal period.
The highest organizational and administrative unit with overall management responsibility for goals, objectives, divisions, operations, programs, and activities within a functional area. The word generally includes boards, commissions, agencies, and elected offices.
Direct Cost
See Cost.
The government’s integrated financial and administrative computer system. EBS encompasses most budgeting, accounting, purchasing, payroll, human resources, and benefit activities for Metro.
The commitment of appropriated funds to an unperformed contract for goods or services. It is an estimate of the expenditures that will result when the contracts are completed.
Enterprise Fund
A fund established to account for a business-like operation in which services are provided to non-Metro customers for a fee. Such fees or user charges cover most or all costs of the fund. Examples include the Convention Center Fund and the Farmers' Market Fund. See also internal service fund.
Estimated Revenue
The amount of revenue that is projected for collection during the fiscal year.
Decreases in net financial resources. Expenditures include current operating expenses that require the current or future use of net current assets, debt service, and capital outlays. This term designates the cost of goods delivered or services rendered, whether paid or unpaid, including expenses, provisions for debt retirement that is not reported as a liability of the fund from which it was retired, and capital outlays.
Final Budget
The budget appropriations approved by the Council, usually based on:
  • the Mayor’s recommended budget,
  • a substitute budget containing changes to the Mayor’s budget and replacing that budget, and/or
  • amendments to one of the above.
Accounting statements in the CAFR prepared pursuant to GASB Statement 34 call this the “original budget.”
Fiscal Year
A twelve-month period of time to which the budget applies and at the end of which a governmental unit determines its financial position and the results of its operations. The Metro and state fiscal years begin July 1 and end June 30; the federal fiscal year runs October 1 to September 30.
Four Percent Reserve Fund
See General Fund Reserve Fund.
Fringe Benefits
Benefits to employees paid by Metro in addition to salaries, including Social Security (FICA), pension, life insurance, health insurance, workers’ compensation, and unemployment compensation. Benefit costs for active employees are included in the departments’ operating budgets, while other benefits in the general funds are grouped in the Employee Benefit accounts.
Full-Time Equivalent (FTE)
A measure of effective authorized positions, indicating the percentage of time a position or group of positions is funded. For an individual position, 1.00 FTE is usually equal to 2,080 hours of work per year. FTE takes into account the number of hours per week and portion of the year the position is funded.
FTE = (hours worked per week/40) x (months funded/12).
A year-round full-time position has an FTE of 1.00. A full-time position funded for 6 months (1/2 year) has an FTE of 0.5, as does a 20 hours-per-week, 12 month position.
A group of Metro departments that performs similar activities or delivers like services (e.g., the Law Enforcement function includes the Sheriff and Police Departments).
A set of interrelated accounts to record revenues and expenditures associated with a specific purpose. A fund has its own revenues, expenditures, assets, liabilities, and equity (fund balance). In Metro, revenues and appropriations cannot be transferred between funds during the fiscal year.
Fund Balance
A term used to express the equity (assets minus liabilities) of governmental fund types and trust funds. A fund balance is the excess of cumulative revenues and other sources of funds over cumulative expenditures and other uses of funds.
GAAP (Generally Accepted Accounting Principles)
Nationally-recognized uniform principles, standards, and guidelines for financial accounting and reporting, governing the form and content of many financial statements of an entity. GAAP encompasses the conventions, rules, and procedures that define accepted accounting principles at a particular time, including both broad guidelines and detailed practices and procedures. Governmental GAAP is determined by the Governmental Accounting Standards Board (GASB) and, to a lesser extent, by the Financial Accounting Standards Board (FASB), the American Institute of Certified Public Accountants, and other professional organizations.
GAGAS (Generally Accepted Governmental Auditing Standards)
Standards for conducting governmental audits as determined by the latest revision of the booklet Government Auditing Standards (the "yellow book") published by the Comptroller General of the United States through the GAO.
The Federal General Accounting Office.
GASB (Governmental Accounting Standards Board)
The oversight body that establishes governmental GAAP, equivalent to the private-sector FASB.
General Fund
The general operating funds are used to account for all resources except those required to be accounted for in another fund. Metro has separate general funds for the General Services District and the Urban Services District.
General Fund Reserve Fund (Four Percent Reserve Fund)
A capital projects fund for relatively small or short-lived capital expenditures. Four percent of the gross original GSD general fund revenue is deposited into this fund. These funds are appropriated by resolution in the capital spending plan for the purchase of equipment or repairs for any department funded by the GSD General Fund.
General Obligation (GO) Debt
Bonds and notes used to borrow money, backed by the full faith, credit, and taxing power of the Metropolitan Government. Compare to Revenue Debt.
Governmental Fund
A fund used to account for the acquisition, use, and balance of expendable financial resources and the related current liabilities--except those accounted for in proprietary funds and fiduciary funds. Governmental funds include general, special revenue, debt service, and capital projects funds.
A contribution by a government or other organization, generally to support a particular program or activity. Any receipts from any state or federal agency and certain non-profit organizations are considered grants unless specifically excluded by the Division of Accounts.
Grant Match
Costs or in-kind services required to match grantors’ shares of grant program costs.
GSD (General Services District)
All of Davidson County. See also Services Districts.
Executive decisions not to spend (obligate or expend) monies budgeted and appropriated by the Council. There are two types of impoundments.
  • Administrative impoundments are simple unallotments of funds; the funds remain in the department's appropriation but are not available for expenditure.
  • Charter impoundments are actual reductions of budget appropriations in accordance with §6.09 of the Charter.
Independent Audit
An audit conducted by auditors who are independent of the government. The annual audit is conducted by one or more public accounting (CPA) firms.
Indirect Costs
See Cost.
The basic installations and facilities necessary for the continuance and growth of the city, such as roads, schools, transportation, utilities, and similar systems.
Internal Service Fund
A fund established to finance and account for goods and services furnished by one department to another department on a cost reimbursement basis so that the original fund capital remains intact. Examples include the Fleet Management and the Information Technology Services funds.
The automatic termination of an appropriation, except for indeterminate or continuing appropriations, or as otherwise provided by law. Any unexpended balance of an appropriation and the authority to spend it lapses at the end of the fiscal year.
In reference to the budget as a whole, either the total amount of taxes due or (sometimes) the tax rate. In reference to a specific piece of property, the amount of tax due on that property.
Debt or other legal obligations arising out of transactions in the past which must be liquidated, renewed or refunded at some future date. The term does not include encumbrances.
Line-Item Budget
A budget that is presented entirely or primarily based on objects of expenditure. The Metro budget ordinance and supporting detail are prepared on a line-item basis.
Line of Business
a group of programs with a common purpose that produce key results for citizens.
See Cost Allocation Plan.
Monetary payments to Metro employees who have been in the employment of Metro for a minimum of five years. Per resolution RS2001-642, these payments range from a minimum of $110 after five years of service to a maximum of $935 for twenty or more years.
Long-Term Debt
Debt that matures more than one year after it is issued.
Mayor's Recommended Budget
The budget proposed to the Council by the Mayor.
Statistical or workload data that quantifies the activities, outputs, or outcomes of program activities and expenditures.
A clear, concise purpose for an entire agency, focusing on the broad, yet distinct, results that it will achieve for its customers.
Modified Accrual Basis
The basis of accounting in which revenues are recognized when they become both measurable and available to finance expenditures of the current period. Expenditures are recognized when incurred, i.e., when the related fund liability is incurred, except for:
  • inventories of materials and supplies, which may be considered expenditures either when purchased or used;
  • prepaid insurance and similar items, which need not be reported;
  • accumulated unpaid vacation, sick pay, and other employee benefit amounts which need not be recognized in the current period, but larger-than-normal accumulations must be disclosed in the notes to the financial statements;
  • interest on special assessment indebtedness which may be recorded when due rather than accrued, if approximately offset by interest earnings on special assessment levies; and
  • principal and interest on long-term debt are generally recognized when due.
All governmental funds and expendable trust funds are accounted for using modified accrual accounting; internal service and enterprise funds utilize full accrual accounting similar to that found in private sector businesses. The CAFR has more information on this subject and its use in Metro.
MSA (Metropolitan Statistical Area)
A group of relatively freestanding but socially and economically linked metropolitan area counties, usually as a central city surrounded by non-metropolitan counties. The Nashville MSA included Davidson, Cheatham, Dickson, Robertson, Rutherford, Sumner, Williamson, and Wilson Counties. The new Nashville-Davidson-Murfreesboro MSA, designated by the Federal Office of Management and Budget, adds Macon, Trousdale, Smith, Cannon, and Hickman Counties.
A form of debt that is shorter in term than bonds and often used for short-term capital project financing in anticipation of a future bond package with terms more advantageous for the government. TCA 9-21-505 provides that, “notes shall be issued for a period not to exceed two (2) years from the date of issue; provided, that with the approval of the state director [of local finance] the notes may be extended or renewed for not more than two (2) additional periods not exceeding two (2) years each.”
Object Account
A code that describes a specific expenditure or revenue item.
A desired, specific, output-oriented accomplishment that can be achieved within a given time frame. Its achievement advances both the activity and organization toward a corresponding goal.
Office of Management and Budget; a unit of the Metro Department of Finance. When modified by the word “federal,” a unit of the executive branch of the United States government.
OMB Circular A-87
The Federal OMB circular that describes allowable and unallowable costs for calculation of federal grant costs.
OMB Circular A-128
The Federal OMB circular that describes the procedures for audits of grants under the Single Audit Act.
Open Position
See Vacant Position.
Operating Budget
A plan of current expenditures and the proposed means of financing them. The annual operating budget is the primary means to control most of the financing, spending, and service delivery activities of a government. The use of annual operating budgets is required by Section 6.01 of the Charter.
Legislation that is approved on three readings by the Council and signed by the Mayor.
Original Revenues
The revenues from which 4% is transferred to the General Fund Reserve Fund (Four Percent Reserve Fund). This includes all revenues to the GSD General Fund except transfers; interdepartmental payments and receipts; federal and state financial assistance (except Medicaid and Medicare payments); and compensation for loss, sale, or damage to property.
The amount by which requisitions, purchase orders, or audited vouchers (i.e., expenditures and encumbrances) exceed the current allotment to which they are chargeable. This creates a negative balance in the unencumbered allotments.
Part-Time Employee
For the purpose of budgeting, a part-time employee is any employee who regularly works less than 40 hours per week. This interpretation differs from that used by the Employee Benefit Board (less than 20 hours per week) or the Personnel Department (less than 32 hours).
Pay Plan
A schedule of each classification used by the Civil Service Commission, along with the pay grades, rates, ranges, and longevity-based steps for each class.
Performance Budget
A budget that focuses on activities rather than line items. Expenditures are related to workload and performance measures to assess the efficiency of services, and budget decisions incorporate measurable performance of activities and work programs.
A performance budget may also incorporate other bases of expenditure classifications, such as character and object class, but these are given a subordinate status to activity performance.
Performance Indicators
Specific quantitative measures of a division’s, program’s, or activity’s work performed or results obtained toward meeting an objective. They measure demand, workload, efficiency, effectiveness, quality, achievement, or outcomes.
Performance Measure Review
In order to ensure that the reported performance data is accurate, the Department of Finance’s Office of Financial Accountability (OFA) conducts an annual performance measure review of a selected sample of each department’s performance measures. The OFA randomly samples and tests a minimum of the program measures associated with at least ten percent of each department’s budget excluding the Hospital Authority and Metropolitan Nashville Public Schools.
A tracking unit representing the authority to hire an employee; may be full-time (funded all day every workday), part-time (funded less than all day every workday), or seasonal (full- or part-time for only a portion of the year, with that portion recurring annually).
Position Headcount
The number of authorized positions funded by a budget. As used in Metro budgeting, this is the sum of positions that are:
  • Full-time and funded in June, plus
  • Part-time and funded in June, plus
  • Seasonal, regardless of months funded.
Prior Year
The fiscal year immediately preceding the current year.
Prior-Year Encumbrances
Obligations from previous fiscal years in the form of purchase orders, contracts or salary commitments.
A countable deliverable that a customer receives from the agency. It is something that one or more customers receive, not processes the agency performs. “Circulating library books” is a process, a library book checked out is a product, and “library book check-outs” is an output or demand measure of what is delivered to customers.
A group of products with a common purpose or result.
Program Budget
A budget where expenditures are based primarily on programs of work related to the goals and objectives of an organization and secondarily on character and object.
Property Tax
An ad valorem (value-based) tax levied on real and personal property according to the property's assessed valuation and the tax rate.
A county-wide revaluation of real property based on current market values. See Certified Tax Rate
An account used to indicate that a portion of a fund's assets are legally restricted for a specific purpose and is, therefore, not available for further appropriation or expenditure.
Funds that the government receives as income to support expenditures.
Revenue Code
A numerical code used to break down revenues into definable areas such as taxes, licenses, user fees, etc.
Revenue Debt
Bonds and notes used to borrow money, backed only by certain revenues (usually from the project built with proceeds from the debt) and not the full faith and credit of the government.
Revenue, Nonrecurring
Revenues that are not expected to repeat over time and generally should not be used to support ongoing expenditures.
Satellite Cities
The seven smaller cities and towns totally or partially in Davidson County that were incorporated prior to Metro being formed in 1963. These smaller cities receive some Metro county-wide GSD services but also provide their own city services instead of or in addition to GSD services. Their citizens pay the GSD property tax rate plus any rate set by the satellite city. The information presented in this book does not include any revenues, expenditures, or services of the satellite cities themselves.
Services Districts
The two districts established by state law and the Charter for budgeting and administering services within the Metro Government. The General Services District (GSD) is all of Davidson County. The Urban Services District (USD) is the former City of Nashville plus annexed areas within the GSD; it receives more services in return for paying a higher property tax rate. In the map below, the USD is the large darker-shaded area within the GSD.
Single Audit Act
The federal law requiring a comprehensive government-wide audit of all federal financial assistance. In Metro, this is performed as an integral part of the annual independent audit.
Special Revenue Fund
A fund used to account for the proceeds of specific revenue sources (other than special assessments, expendable trusts, or for major capital projects) that are legally restricted to expenditure for specified purposes. Examples are the Schools General Purpose Fund (35131) and the General Fund Four Percent Reserve Fund (30003).
Any person or entity that has an interest in the activities or objectives of an organization, including such groups as citizens, customers, suppliers, and regulators.
Strategic Goal
A significant result to be achieved by an agency over the next two to five years.
Structural Balance
The situation in which recurring revenues are sufficient to finance expected expenditures for the foreseeable future.
An optional additional level of detail for account codes. It is typically used to identify a revenue source or the fund number of an interfund transfer. For example, the number of the resolution that approved a grant might be entered as the subledger for the grant revenue account code.
An optional additional level of detail for account codes. It is used to add more detailed information below the object account level.
Supplemental Appropriation
A resolution appropriating funds (increasing budget authority) above and beyond previously-approved levels.
Target Budget
A budget built by adjusting detailed budget items to a departmental total, instead of building the total budget by adding together detailed line-item projections.
Tax Levy
The total tax dollars assessed on property, calculated by multiplying the tax rate per one hundred dollars by the tax base. The term can also refer to the tax rate itself.
Tennessee Code Annotated; state law.
Transfer, Budget
A transfer of an unused portion of an appropriation to another purpose or activity within a department's budget.
Transfer, Operating
All interfund transfers other than residual equity transfers (which are nonrecurring or non-routine transfers of equity between funds), quasi-external transactions, reimbursements, loans, or advances. The typical operating transfer is a legally authorized transfer from a fund receiving revenue to another fund through which the resources are to be expended. The budget treats this as if it were an expenditure of the first fund and revenue to the second.
Unencumbered Allotment (also unencumbered balance)
The portion of an allotment not yet expended or encumbered. The focus of budgetary control, as §6.08 of the Charter provides that, "... no expenditure shall be made or encumbrance created, but in pursuance of an allotment, and within the otherwise unencumbered balance of such allotment."
Unencumbered Appropriation
The portion of an appropriation not yet expended or encumbered.
Unexpended Allotment
The portion of an allotment not yet expended.
Unexpended Appropriation
The portion of an appropriation not yet expended.
Unreserved Fund Balance
The portion of a fund’s balance that is not restricted for a specific purpose and is available for general appropriation.
USD (Urban Services District)
The former City of Nashville plus annexed areas, which receive more services in compensation for paying a higher property tax rate. See also Services Districts.
Vacant Position
A position that is active (available and funded) but unoccupied.
The Metropolitan Government’s web-based intranet budget preparation system.
Working Capital
A financial measure which represents the amount of day-by-day operating liquidity available to the government.