Budget & Finance (Day 3)

Question 1

______________ budget considers a purpose of a program as a unit.

Answer 1

Program Budget

Question 2

______________ ties the budget to specific performance objectives for each program.

Answer 2

Performance Budget

Question 3

________________ requires that existing programs and activities should not automatically be funded, but rather should have to justify their continuation as part of the annual budget cycle.

Answer 3

Zero Based Budgeting

Question 4

______________ links resource allocation with managerial performance and strategic plans, along with annual performance plans.

Answer 4

New Performance Budgeting

Question 5

______________ combines a program budgeting model with short and long term planning targets, performance measurements. It serves as a long-term planning tool so that decision makers are made aware of the future implications of their actions.

Answer 5

Planning-Programming-Budgeting-System (PPBS)

Question 6

_________________ is a democratic process in which community members decide how to spend part of a public budget.

Answer 6

Participatory budgeting

Question 7

_____________ is the largest revenue stream for most local governments.

Answer 7

Property Taxes

Question 8

What kind of tax is mostly impacted by a variety of economic factors such as inflation, population, tourism, etc.?

Answer 8

Sales Tax

Question 9

____________ pledge the “full faith and credit” of the jurisdiction, and commit property taxes by voter referendum.

Answer 9

General obligation bond

Question 10

____________ pledge specific non-ad valorem tax revenues of self-supporting enterprise.

Answer 10

Revenue Bond

Question 11

Votes from the public is required in what kind of capital financing?

Answer 11

General Obligation bond

Question 12

____________ is used to provide public facilities needed to support new private development, it is secured by increased tax revenue produced by new private development.

Answer 12

Tax Increment Financing.

Question 13

_____________ imposes a levy on property, individual lots, or all property in a designated neighborhood or district to pay for improvements.

Answer 13

Special Assessment District

Question 14

_____________ is when property owners pay an additional tax to fund activities that benefit their district.

Answer 14

Business Improvement District

Question 15

True/False: CRA funds can be used for redevelopment purposes and/or to leverage bonds.

Answer 15

True

Question 16

_____________ is an economically depressed area that has been targeted for revitalization by a city or state through tax abatement and other incentives given to companies that locate or expand their operations within the zone.

Answer 16

Enterprise Zone

Question 17

_______________ is an economically distressed rural & urban zones designated by USDA & HUD.

Answer 17

Empowerment Zone

Question 18

This program was created under the Clinton administration to help
distressed areas be more competitive with more prosperous areas.

A. Special District
B. Special Assessment
C. Coverage Area
D. Enterprise Zone

Answer 18

D.

Question 19

This is an independent unit of local government that is usually
created by referendum and organized to perform specific
governmental functions:

A. Special District
B. Coverage Area
C. Special Assessment
D. Enterprise Zone

Answer 19

A

Question 20

True/False: Any acquisition of land for a public purpose is a captial project?

Answer 20

True

Question 21

True/False: Any construction of a new facility or a major addition to a facility is a captial project.

Answer 21

True

Question 22

True/False: A CIP is updated annually and/or biannually.

Answer 22

True

Question 23

What are the first two steps in a CIP process?

Answer 23

Identify needs and funding

Question 24

What are the last three steps in a CIP process?

Answer 24

Develop a 5 year CIP Plan, develop an annual capital budget and then implement projects and programs.

Question 25

What kind of loan is seed money established; loans made &
repaid; funds re-loaned to next applicant?

Answer 25

Revolving Loan Fund

Question 26

Which program is likely to be used to address the goal of establishing an impact fee ordinance?

A) capital improvement program
B) inclusionary housing program
C) impact fee program
D) growth phasing program

Answer 26

A.

Question 27

The application of performance zoning does NOT include:

A) Providing flexibility in the number and design of units
B) Permitting any use that meets a specific set of standards
C) Requiring impacts analyses for a proposed development
D) Restricting specific uses on a property

Answer 27

D.

Question 28

Zombie subdivisions (Select all that apply):

I. Pose threats to safety and health
II. Commit communities to significant, long-term service costs
III. Were predominately developed illegally
IV. Are prime targets for new development planning

Answer 28

I, II and IV