As we continue our recovery and cleanup efforts, please visit the Emergency website for the latest information on openings and closings in Miami-Dade County.
Administration Bond -- A bond that is posted on behalf of an administrator of an estate to assure that he or she conducts their duties according to the provisions of the will and/or the legal requirements of the jurisdiction.
Audit -- An evaluation of a person, organization, system, process, enterprise, project or product.
Automatic Clearing House (ACH) -- An electronic funds-transfer system run by the National Automated Clearing House Association. This payment system deals with payroll, direct deposit, tax refunds, consumer bills, tax payments and many more payment services.
Bond -- A bond is a formal contract to repay borrowed money with interest at fixed intervals.
Budget Book -- An itemized summary of estimated or intended expenditures for a given period along with proposals for financing them.
Bondholder -- The owner of a government or corporate bond. Being a bondholder is often considered safer than being a shareholder because if a company liquidates, it must pay its bondholders before it pays its shareholders.
Calendar Year -- Begins on the New Year's Day of the calendar system and ends on the day before the following New Year's Day.
Capital Improvement Plan (CIP) -- Is a short-range plan, usually four to ten years, which identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan.
Checkbook -- A checkbook is comprised of a series of checks that can be used to make purchases, pay bills, etc. With the advent of online commerce and banking, more people are making purchases and paying bills online, thereby reducing or eliminating the need for paper checkbooks.
Comprehensive Annual Financial Report (CAFR) -- The combined financial statements of a parent company and its subsidiaries.
Consolidate -- To combine the assets, liabilities and other financial items of two or more entities into one.
Disbursement -- money paid out of a fund, in this case, the County's, for goods, services, taxes, or distribution of tax revenues; for example, when the County pays for office supplies, security guard services, IRS taxes, or gives Miami-Dade Public Schools their share of the collected revenue from taxes.
Disbursement Number -- Represents the check, direct deposit / automatic clearing house (ACH) or wire transfer number.
Debt Service -- Payment of principal and interest on borrowed funds such as bonds.
Decade of Progress Bond Program -- A general obligation bond program approved by the electorate in 1972 totaling $533.1 million, which leveraged an additional $1.9 billion of capital improvements in the areas of sewers, solid waste, transit, libraries, health care, parks, zoo, and arterial streets.
Due Diligence -- An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to a sale.
Expenditures -- The action of spending funds.
Electronic Document Management System (EDMS) -- A set of computer-based technologies that allow users to electronically capture, process, store, retrieve and use their documents more efficiently than by using paper documents. EDMS also facilitates the electronic movement of correspondence and staff actions among departments and outside agencies.
Electronic Government (e-government) -- A government's use of technology as an enabling strategy to improve services to its citizens and businesses. Access to government information and services can be provided when and where citizens choose and can include access via the Internet, Voice Response Systems, Interactive Kiosks, and other emerging technologies.
Electronic Procurement (e-procurement) -- The purchase of goods or services over the Internet or other electronic medium.
Financial Accounting & Management Information System (FAMIS) -- The County's financial accounting general ledger system.
Fiscal Year -- Any yearly accounting period, without regard to its relationship to a calendar year. The fiscal year for Miami-Dade County begins on October 1 and ends on September 30.
Florida Ports Trust Fund -- Funding from the Florida Department of Transportation for port-related capital improvements; includes a bond program and annual appropriations.
Function -- A grouping of related capital projects which have common activity.
Fund -- A group of appropriations treated as an entity to meet legal requirements or Generally Accepted Accounting Principles (GAAP).
General Obligation Bond -- Voter approved debt pledging the unlimited taxing power of a governmental jurisdiction.
Growth Management -- State requirements related to development and its impact on public infrastructure.
Impact Fee -- A fee charged on new development to finance required infrastructure such as roads, parks, schools, fire and police facilities, or capital purchases.
Law Enforcement Block Grant -- A U.S. Department of Justice, Bureau of Justice Assistance, local law enforcement program which makes formula allocations for the purpose of reducing crime and improving public safety.
Misstatements -- A financial statement assertion is not in accordance with the criteria against which it is audited.
Multi-Year Capital Plan -- A balanced fiscal plan for governmental capital projects which spans six fiscal years.
Municipal Bond -- Municipal bonds may be used to fund expenditures such as the construction of highways, bridges or schools.
Non-Cash Charge -- Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. Companies take these charges against earnings due to extraordinary circumstances such as accounting policy changes or significant depreciation of asset's market value.
Obligation Bonds -- An obligation bond creates a personal obligation on the part of the borrower to compensate the lender for costs in excess of the value of the mortgaged property or assets, such as closing costs or transaction costs.
Operating Budget -- A balanced fiscal plan for providing governmental programs and services for a single year.
Payee -- A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.
Payment -- An amount paid or payable.
Pledged Revenues -- Funds withdrawn from a borrower's cash flow passing through a bank to service a loan, or to meet obligations under a bond indenture.
Port Authority Properties (PAP) -- Consist of all land and the facilities at the airports which were acquired or constructed with proceeds from Revenue Bonds issued by the County under the terms of the Trust Agreement.
Program Area -- A broad function or area of responsibility of government relating to basic community needs. Program areas usually entail a number of organized sets of activities directed towards a general common purpose and may encompass the activities of a number of departments.
Projections -- Estimates of anticipated revenues, expenditures, or other quantitative data for specific time periods, usually fiscal years.
Proprietary Agency -- Commonly called "self-supporting" or "enterprise," these agencies pay for all or most of their cost of operations from user fees and generally receive little or no property tax support.
Proprietary Funds -- Proprietary funds are those funds where the County charges a user fee in order to recover costs.
Qualified Target Industry (QTI) Program -- A State-created program that encourages additional high value jobs through tax refunds. Businesses which expand existing operations or relocate to the State are entitled to a tax refund of up to $5,000 per job or $7,500 per job if the business is located in an enterprise zone. The County's contribution is 20 percent of the refund or up to $1,500 per job.
Resumix -- An applicant tracking system that integrates artificial intelligence, optical scanning, character recognition, graphical user interface and distributed work-group computing. Through these technologies, the system automates resume processing, extracts relevant information about a candidate, and stores it in an applicant summary to be used later for recruiting purposes.
Revenue Bond -- This differs from general-obligation bonds, which can be repaid through a variety of tax sources. Revenue bonds are only payable from specified revenues.
Revenue -- Income a department earns from fees customarily charged users in the normal course of business. In the broader sense, "revenue" refers to all government income, regardless of source, used to fund services.
Safe Neighborhood Parks Bond Program -- A general obligation bond program approved by the electorate on November 5, 1996 totaling $200 million to finance capital improvements to, and the acquisition of, neighborhood and regional parks, beaches, natural areas, and recreational heritage facilities.
Secondary Gas Tax -- See Constitutional Gas Tax.
Special Assessment Bonds -- Revenue bonds issued to finance improvements in special taxing districts with debt service paid by assessments to district residents.
Special Revenue Bonds -- Bonds issued to finance improvements with debt service paid by designated revenues; the full faith and credit of a governmental jurisdiction are not pledged to repay the debt.
Special Taxing District -- A geographic area, designated by petition or vote of the residents of that area, in which a particular service is provided exclusively to residents of the area. A special property tax or a special assessment fee pays for these services.
State Revolving Loan Program -- A low interest loan program administered by the State to fund wastewater system improvement projects.
Tax Increment Financing (TIF) -- A financing mechanism whereby incremental property tax revenue growth within a certain geographic area beyond a specified base year is earmarked and dedicated to fund redevelopment activity in that specific area.
Tax Revenues -- Tax revenue are the income that is gained by governments because of taxation of the people.
Unconsolidated -- Not grouped together, as of shares or holdings.Back to Top Page Last Edited: Wed Aug 22, 2012 9:23:46 AM
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