GLOSSARY & ACRONYMS

Glossary

Account Number ‐ A numerical code identifying revenues and expenditures by fund, department, activity, type, and object.

Accrual ‐ Accrual accounting/budgeting refers to a method of accounting/budgeting in which revenues are recorded when earned and expenditures are recorded when goods are received or services are performed, even though the actual receipts and disbursements of cash may occur, in whole or in part, in a different fiscal period.

Adopted Budget ‐ Also known as “Final Budget”, refers to appropriations as originally approved by the County Council at the beginning of the year and to the budget document which consolidates all beginning‐of‐the‐year operating appropriations.

Ad Valorem Tax ‐ Commonly referred to as property taxes, these taxes are levied on both real and personal property according to the property’s assessed valuation and the tax rate.

Annual Budget ‐ A budget applicable to a single fiscal year.

Annual Comprehensive Financial Report ‐ An official annual report which presents the status of the county’s finances in a standardized report. The ACFR is organized by fund and contains two basic types of information: (1) a balance sheet that compares assets with liabilities and fund balance, and (2) an operating statement that compares revenues and expenditures.

Appropriation ‐ A specific amount of money authorized by the County Council to a specified unit of county government to make expenditures and to incur encumbrances for specific purposes. Appropriations expire at the end of the fiscal year.

Assessed Value ‐ A value set on real estate or other property as a basis for levying taxes. The assessed value is set by the County Assessor, who is charged with determining the taxable value of property according to a formula set by the State of Missouri.

Assessment – (1) the process of making the official valuation of property for purposes of taxation. (2) The valuation placed upon property because of this process.

Balanced Budget ‐ A balanced budget is one in which the available revenues and appropriated fund balances equal estimated expenditures for a fiscal year.

Bond ‐ A contract to pay a specified sum on money (the principal or face value) at a specified future date (maturity) plus interest paid at an agreed percentage of the principal.

Budget ‐ A financial plan, including proposed expenditures and estimated revenues, for a given period.

Budget Calendar ‐ A schedule of key dates which the county follows in the preparation, adoption, and administration of the budget.

Budget Document ‐ The instrument used by the County Executive to present a comprehensive financial program to the County Council.

Budget Message ‐ The opening section of the budget which provides County Council and the public with a summary of the most important aspects of the budget, changes from previous fiscal years, and recommendations regarding the county’s financial policy for the upcoming fiscal year.

Budgetary Control ‐ The control or management of a government or enterprise in accordance with an approved budget that keeps expenditures within the limitations of available appropriations and revenues.

Capital Asset ‐ An expenditure for an item with a value of $500 or more and that has an expected life of more than one (1) year. Capital items include real property, office equipment, furnishings, and vehicles.

Capital Expenditure ‐ A direct expenditure that results in or contributes to the acquisition or construction of a capital asset. The expenditure may be for new construction, addition, replacement, or renovations to buildings that increase their value, or major alteration of a capital asset. Capital assets include land, infrastructure, buildings, equipment, vehicles, and other tangible and intangible assets that have useful lives longer than one year.

Capital Improvement Program (CIP) ‐ A plan for capital expenditures to be incurred each year over a fixed period of years to meet capital needs arising from the long‐term work program or other capital needs. The CIP sets forth each project or other contemplated expenditures in which the government is to have a part and specifies the resources estimated to be available to finance the projected expenditures.

Certificate of Participation (COP) ‐ a security created as part of a lease‐purchase agreement. The lender, the holder of the certificate, owns a right to participate in periodic lease payments (interest and return of principal) as they are paid.

Chart of Accounts ‐ A listing and description of all county revenue and expenditure accounts.

Debt Service Fund ‐ A fund used to account for accumulation of resources for, and the payment of, general long‐term debt principal and interest payments on a bond issue.

Deficit – An excess of expenditures over revenues or expenses over income.

Department ‐ The primary organizational unit in St. Louis County. Each department is managed by a director. Departments are generally composed of divisions and programs which share a common purpose, or which perform similar duties.

Distinguished Budget Presentation Program ‐ A voluntary program administered by the Government Finance Officers Association to encourage governments to publish efficiently organized and easily readable budget documents.

Encumbrance ‐ An obligation incurred in the form of purchase orders, contracts, and similar items that will become payable when the goods are delivered, or the services rendered. An encumbrance is an obligation of funding for an anticipated expenditure prior to actual payment for an item.

Enterprise Fund ‐ Funds to account for operations that are financed and operated in a manner like private business enterprises. An enterprise fund is a self‐supporting fund designed to account for activities supported by user charges. The Spirit of St. Louis Airport Fund is an enterprise fund.

Enterprise Resource Planning (ERP) System ‐ A suite of computer applications designed to organize and administer processes in a systematic way across many areas of an organization to improve business processes and ultimately improve the information and services delivered to customers. The county’s ERP system, currently under design work, is known as the County Administrative Processing System (CAPS).

Expenditure ‐ The disbursement of appropriated funds to purchase goods and/or services.

Fair Labor Standards Act (FLSA) ‐ Federal legislation regulating minimum wage, overtime, record keeping, child labor standards and prohibiting sexual discrimination in pay. 1985 amendments applied FLSA to state and local governments.

Fees – see “User Fee”

Final Budget – see “Adopted Budget”

Fiscal Year ‐ In St. Louis County, the twelve months beginning on January 1 and ending the following December 31. (The State of Missouri’s fiscal year begins on July 1. The federal government’s fiscal year begins October 1).

Fringe Benefits ‐ Fringe benefits include St. Louis County’s contribution to Social Security, Retirement Plan, Unemployment Compensation, Workmen’s Compensation, Hospital Insurance, Long Term Disability and Life Insurance.

Full‐Time Equivalent (FTE) ‐ A part‐time position converted to the decimal equivalent of a full‐time position based upon 2,080 hours worked per year (40 hours per week). For example, a part‐time employee working 20 hours per week (1,040 hours per year) is the equivalent of 0.5 of a full‐time employee, or 0.5 FTE. A full‐time employee working 2,080 hours per year is 1.0 FTE.

Fund ‐ An accounting device established to control the receipt and disbursement of income from sources set aside to support specific activities or attain certain objectives.

Fund Balance ‐ Fund balance represents the amount of money remaining in a fund after all expenses and liabilities have been accounted for. This balance is available for use in future years.

General Revenues ‐ All revenues are general revenues unless they are required to be reported as program revenues. All taxes, even those that are levied for a specific purpose are general revenues. All other non‐tax revenues (including interest, grants, and contributions) that do not meet the criteria to be reported as program revenues should be reported as general revenues.

Generally Accepted Accounting Principles (GAAP) ‐ Uniform minimum standards and guidelines for financial accounting and reporting. They govern the form and content of the financial statements of an entity GAAP encompass the practice at a particular time; they include not only broad guidelines of general application, but also detailed practices and procedures. GAAP provide a standard by which to measure financial presentations. The primary authoritative body on the application of GAAP to state and local governments is the GASB.

General Obligation Bond ‐ Bonds for which the full faith and credit of the county are pledged.

General Revenue Fund ‐ A fund created to account for all financial resources for the general operating revenue and expenditures of the county.

Governmental Accounting Standards Board (GASB) ‐ A private, non‐governmental organization which is currently the source of generally accepted accounting principles (GAAP) used by state and local governments in the United States. It is a private, non‐governmental organization. The GASB has issued Statements, Interpretations, Technical Bulletins, and Concept Statements defining GAAP for state and local governments since 1984.

Governmental Fund – Funds through which most governmental functions are financed. The acquisition, uses, and balances of the county’s expendable financial resources and the related liabilities (except for those accounted for in proprietary funds) are accounted for through governmental funds. The measurement focus is on determination of and changes in financial position rather than upon net income.

Grant ‐ A contribution of assets (usually cash) by one governmental unit or other organization to another. Typically, these contributions are made to local governments from the state and federal governments. Grants are usually made for specific purposes.

Intergovernmental Revenues ‐ Revenue collected primarily from state or federal governments as grants, shared revenue, payments in lieu of taxes, or reimbursement for government services.

Levy ‐ The total amount of taxes, special assessments or service charges imposed by a government.

Master Lease ‐ a program of financing which allows the county to pay for the costs of major capital assets over the life of the asset, rather than all in one year, supplementing the county’s needs to complete a variety of major projects.

Modified Accrual Basis of Accounting – An accounting method that combines accrual‐basis accounting with cash‐basis accounting. Modified accrual accounting recognizes revenues when they become available and measurable and, with a few exceptions, recognizes expenditures when liabilities are incurred. This system divides available funds into separate entities within the organization to ensure that the money is being spent where it was intended.

Municipal ‐ In its broadest sense, an adjective denoting the state and all subordinate units of government. In a more restricted sense, an adjective denoting a city or village as opposed to other local governments.

Operating Budget ‐ Plans of current expenditures and the proposed means of financing them. The annual operating budget is the primary means by which most of the financing, acquisition, spending and service delivery activities of a government are controlled.

Ordinance ‐ A formal legislative enactment by the County Council.

Personal Property ‐ Property, other than real estate identified for purposes of taxation, including personally owned items, as well as corporate and business equipment or property. Examples include automobiles, motorcycles, boats, and trailers.

Position ‐ A group of duties and responsibilities, as prescribed by an office or department, to be performed by a person on a full‐time or part‐time basis.

Program – An organized set of activities directed toward a common purpose or goal, undertaken or proposed by a department to carry out its mission.

Program Revenues ‐ Revenues derived directly from a program itself. Program revenues reduce the net cost of functions to be financed from governments’ general revenues. Program revenues are further divided between charges for services and program‐specific grants and contributions (operating and capital).

Property Tax ‐ A tax levied on the assessed value of real and personal property. This tax is also known as an ad valorem tax.

Proprietary Funds – funds used to account for activities that are like those found in the private sector. The measurement focus is on the determination of net income, changes in net assets (or cost recovery), financial position, and cash flows.

Recommended Budget ‐ A plan of financial operations submitted by the County Executive to the County Council. This plan reflects estimated revenues, expenditures, transfers, and department goals and objectives.

Real Property ‐ Real estate, including land and improvements (buildings, fences, pavements, etc.) classified for purposes of assessment.

Resolution ‐ An informal statement of policy by the County Council.

Revenue ‐ Monies received from all sources (with exception of fund balances) that will be used to fund expenditures in a fiscal year.

Sales Tax ‐ Tax imposed on the taxable sales of all final goods.

Sewer Lateral Program ‐ Approved by a general election on April 6, 1999. The taxpayers/voters agreed to pay $28.00 per property per year to fund a program to defray the cost of repairs to their privately owned sewer laterals.

Special Revenue Funds ‐ Funds used to account for the proceeds of specific revenue sources (other than expendable trusts or major capital projects) that are legally restricted to expenditure for specific purposes. GAAP only requires the use of special revenue funds when legally mandated.

Supplemental Appropriation Ordinance – An ordinance appropriating funds in addition to those in the adopted budget. Supplemental appropriations provide additional budget authority beyond the original estimates for programs or activities (including new programs authorized after the date of the adopted budget) in cases where the need for funds is too urgent to be postponed until enactment of the next regular budget ordinance.

Taxes ‐ Compulsory charges levied by a government to finance services performed for the common benefit.

Tax Increment Financing (TIF) ‐ A tool used to increase real property values through the physical improvement of a specific redevelopment area as authorized by Missouri Statute (RSMo. 99,800 – 99,865).

Transfer ‐ Movement of monies from one fund, activity, department, or account to another. This includes budgetary funds and/or movement of assets.

Trust Fund ‐ Funds used to account for assets held by a government in a trustee capacity for individuals, private organizations, other governments and/or other funds.

Unappropriated Fund Balance – Monies not appropriated or committed to a specific program or purpose.

User Fees ‐ Charge for expenses incurred when services are provided to an individual or groups and not the community at large. Major types of user fees include business and non‐business licenses and fees.

Acronyms

(underlined acronyms are defined in the glossary)

AARP – organization formerly known as the American Association of Retired Persons

AASHTO – American Association of State Highway and Transportation Officials

ACSP – Alternative Services Program (Department of Justice Services)

ADA – Americans with Disabilities Act

APB – Accounting Principles Board

ARBs – Accounting Research Bulletins

ARPA – American Rescue Plan Act of 2021

ARRA – American Recovery and Reinvestment Act

ARS – Arterial Road System

AV – Assessed Value

BAC – Business Assistance Center

BJA – Bureau of Justice Assistance

BOE – Board of Equalization

BOEC – Board of Elections Commissioners

CAFR – Comprehensive Annual Financial Report

CAPS – County Administrative Processing System

CARES – Coronavirus Aid, Relief, and Economic Security

CARF – Commission on Accreditation of Rehabilitation Facilities

CART – County Aid Road Tax

CASA – Court Appointed Special Advocates

CIP – Capital Improvement Program

CCP – (Transportation) Capital Construction Program

CDBG – Community Development Block Grant

CDC – Centers for Disease Control

CEO – Chief Executive Officer

CID ‐ Community Improvement District

CMAQ – Congestion Mitigation and Air Quality Program

COD – Coefficient of Dispersion

COO – Chief Operating Officer

COP – Certificate of Participation

COVID‐19 – Coronavirus Disease 2019

CPA – Certified Public Accountant

CRF – Coronavirus Relief Fund

CRS – County Road System

CSF – Children’s Service Fund

CYP – County Youth Program

DEIS – Draft Environmental Impact Statement

DHS – Department of Human Services

DJS – Department of Justice Services

DNA – Deoxyribonucleic Acid

DOL – Department of Labor or Determination of Liability

DVSS – Domestic Violence Shelters and Services

DWI – Driving While Intoxicated

EATS – Economic Activity Taxes

ECC – Emergency Communications Commission

EHD – Electronic Home Detention

EIR – Entrepreneur in Residence

EIS – Environmental Impact Statement

EOC – Emergency Operations Center

ERP – Enterprise Resource Planning System

ESInet – Emergency Services IP Network

FAA – Federal Aviation Administration

FASB – Financial Accounting Standards Board

FTE – Full‐Time Equivalent

FY – Fiscal Year

GAAP – Generally Accepted Accounting Principles

GASB – Governmental Accounting Standards Board

GED – General Education Development

GFOA – Government Finance Officers Association

GIS – Geographic Information System

GO – General Obligation

GRG – Great Rivers Greenway

HBP – Highway Bridge Program

HOME – Home Investment Partnership Program

HUD – U.S. Department of Housing and Urban Development

HVAC – Heating, Ventilation, and Air Conditioning system

IAAO – International Association of Assessing Officers

ILS – Instrument Landing System

IP – Internet Protocol

IRS‐MACRS – Internal Revenue Service ‐ Modified Accelerated Cost Recovery System

ISO – Insurance Services Office

IT – Information Technology

ITS – Intelligent Transportation System

JAG – Justice Assistance Grant

JDAI – Juvenile Detention Alternatives Initiative

LED – Light Emitting Diode

M&M – Merchants and Manufacturers

MCSAP – Motor Carrier Safety Assistance Program

MCVR – Missouri Centralized Voter Registration

MDHSS – Missouri Department of Health and Senior Services

MDPS – Missouri Department of Public Safety

MET (Center) – Metropolitan Education and Training

MoDOT – Missouri Department of Transportation

MOVANS – Missouri Victim Automated Notification System