Municipal Budget Process Flashcards Preview

CPWM > Municipal Budget Process > Flashcards

Flashcards in Municipal Budget Process Deck (41)
Loading flashcards...
31

Is a Capital Budget required to operate on a calendar year?

No.

32

The useful life of equipment must be how many years?

Five

33

What is the minimum down payment?

5%

34

The Capital Plan for over 10,000 is 6 Years. True or False?

True

35

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

36

A Capital Bond is like your mortgage

5% down and is financed through traditional financing

37

Where is the Capital Improvement Fund located?

Located in the current Fund

38

Capital often implies debt but is not the case for the Capital Improvement Fund. True or False?

True

39

What are some things you can charge to the Capital Improvement Fund?

Surveying, Architectural and Engineering Fees

40

Can the Capital Improvement Fund be used to fund a project?

Yes

41

Appropriations minus Revenues equals_____?

Amount to be collected by taxes