Flashcards in Municipal Budget Process Deck (41)
Is a Capital Budget required to operate on a calendar year?
The useful life of equipment must be how many years?
What is the minimum down payment?
The Capital Plan for over 10,000 is 6 Years. True or False?
What items are included in the Capital Budget?
Short Term Notes
Bond Anticipation Notes
Issued for 1yr or less but renewable up to 5 years
Interest on notes generally lower than bonds
Long Term Bonds
Minimum 5 yrs. but as long as 40 yrs.
minimum life of project must be at least 5 yrs.
every bond requires a 5% downpayment
A Capital Bond is like your mortgage
5% down and is financed through traditional financing
Where is the Capital Improvement Fund located?
Located in the current Fund
Capital often implies debt but is not the case for the Capital Improvement Fund. True or False?
What are some things you can charge to the Capital Improvement Fund?
Surveying, Architectural and Engineering Fees
Can the Capital Improvement Fund be used to fund a project?