FY 2425 2526 Recommended Operating Budget

Glossary of Budget, Financial Terms, and Acronyms

AB 1234 This law requires that all local agencies that provide compensation, salary, or stipend to, or reimburses the expenses of, members of a legislative body, must provide ethics training to local agency officials every two years. AB 1600 This law codifies the legal requirement that fees on new development have the proper nexus to any project on which they are imposed. The fees must be segregated from the general fund and from other funds or accounts containing fees collected for other impacts or departments. ABAG Association of Bay Area Governments - one of more than 560 regional planning agencies across the nation working to help solve problems in areas such as land use, housing, environmental quality, and economic development. Accounting System The total set of records and procedures which are used to record, classify, and report information on the financial status and operations of an entity. Accrual Accounting Revenues are recognized as soon as they are earned and expenses are recognized as soon as a liability is incurred, regardless of the timing of related cash inflows and outflows.

AFSCME American Federation of State, County, and Municipal Employees

Amended Budget The Adopted Budget as formally adjusted by the City Council.

GENERAL INFORMATION 63