2016-2020_Financial_Plan_Web

Glossary

Internal Services Recovered - Recovery from one department to another for services rendered, such as data processing or insurance funded from a control pool. See internal services used.

Internal Services Used - Charge from one department to another for services rendered. See internal services recovered.

LTCP - Long Term Capital Plan.

Levy - To impose taxes to fund City services.

Long-term Debt - Debt with a maturity of more than one year after the date of issuance.

Materials and Supplies - Expendable goods necessary to conduct departmental operations.

Neighbourhood Concept Plan (NCP) - Part of the City's Official Community Plan.

Objective - Something to be accomplished in specific, well-defined, and measurable terms and that is achievable within a specific time frame. See Goal.

Obligations - Amounts that the City may be legally required to pay. They include not only actual liabilities, but also encumbrances.

Official Community Plan (OCP) - The City's primary development-planning document.

One Hundred Person Years - The estimate of the actual time-at-risk in years that all persons contributed to the study i.e. (# of years in study x # of members in the study).

Operating Expenditures - The cost of personnel, materials and equipment associated with the City’s day-to-day operation.

Operating Revenues - Funds that the City receives as income to pay for its day-to-day operation, including taxes, fees from specific services, interest earnings, and grant revenues.

P3 - Public-Private Partnership.

Program - A group of related activities performed by one or more organizational units for the purpose of accomplishing a function for which the City is responsible.

Program Revenue - Revenues earned by a program, including fees for services, license and permit fees, and fines.

2016-2020 FINANCIAL PLAN

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