FY 2023-2028 CIP Budget Book

Contingency – A budgetary reserve set ‐ aside for emergency or unanticipated expenditures. Contractual Services – Contracts for professional services. Department – An organizational unit comprised of programs and program managers. A single director manages each department. Encumbrances – An amount of money committed for the payment of goods and services not yet received or paid for. Expenditures – Decreases in net current assets. Fiscal Year – The period designated by the City signifying the beginning and ending period for recording financial transactions. The City of Menifee has a fiscal year of July 1 through June 30. Fund – An accounting entity with a set of self ‐ balancing accounts recording revenues and expenditures and transactions for specific activities. Fund Balance – The difference between the assets (revenues and other resources) and liabilities (expenditures incurred or committed to) for a particular fund. Future Years – The intent of the future period is to project out to ten (10) years, projects that are anticipated by staff and the City Council that will ultimately have a very large impact on the City and surrounding area. General Fund – Accounts for tax and other general fund revenues (e.g., sales taxes, property taxes, fines and forfeitures, investment interest, etc.) and records the transactions of general governmental services (e.g., police, fire, library, parks and recreation, public service, etc.). Goals – The desired result of accomplishments within a given time frame, usually a fiscal year. Grants – Contributions or gifts of cash or other assets from another government to be used or expended for a specified purpose. Objectives – The necessary steps to achieve a desired goal. Operations & Maintenance – Office supplies and other materials used in the normal operations of City departments. Includes items such as books, maintenance materials, and contractual services. Organization – A unit of operation having specific responsibilities and duties that collectively form an Agency. The terms organization and division are used interchangeably throughout the budget document (i.e., Accounting Organization, Traffic Division, etc.). Resources – Total amounts available for appropriation including estimated revenues, fund transfers, and beginning balances. Revenues – The yield of taxes and other sources of income that a governmental unit collects and receives for public use. Special Assessment – A compulsory levy made against certain properties to defray all, or part of the cost of a specific capital improvement or service deemed to benefit primarily those properties. Strategic Plan Goals: Provides the framework for the City’s Strategic Budgeting activities. The City Council has set priorities and guided staff in developing five (5) Plan Goals upon which to focus time and resources. These goals include: 202