Handbook of Municipal Accounting |
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Common terms and phrases
account balance sheet accounts receivable administrator amount ance sheet appropriation assessments assets and liabilities audit authorizations to incur Avenue basis bonded debt budget capital surplus certified CHAPTER charged chief financial officer Collateral entry collecting agent column comptroller contingent liabilities controlling account count credited debited deficit detail efficiency employees eral excess Exhibit expenditures expense accounts facts fund accounts fund balance sheet incur liabilities installation invoices issued Levy ment methods miscellaneous month monthly municipal open market orders operation order and contract paid payable payment payroll pense period person procedure purchased purpose quantity receipts record registered requisition revenues and expenses revenues from taxes Rochelle schedule line shown sinking fund cash statement stores ledger storm sewer surplus tion TOWN OF MONTCLAIR transactions trial balance unapplied net cash unit costs Upper Montclair vouchers York City
Popular passages
Page 151 - ... except in cases of extraordinary emergency caused by fire, flood or danger to life or property.
Page xviii - Few cities have kept accounts of property, stores, equipment. Few cities have a complete account of their liabilities. Few cities keep operation or cost accounts. Few cities...
Page 22 - ... unexpended proceeds of loans sold. Capital Liabilities — -Long term indebtedness and other liabilities incurred in the acquisition of capital assets. Capital Outlays — A term used to cover the cost of acquiring property, of paying debt, and of carrying stores and work in progress out of revenue moneys. Contingent Liabilities — Obligations in respect of which there are conditions which have to be fulfilled before they become actual liabilities. Contracts awarded and orders issued are the...
Page 21 - ... surplus. Capital Assets — Land, structure, non-structural improvements, equipment, accounts receivable to be applied to the reduction of debt and the unexpended proceeds of loans sold. Capital Liabilities — -Long term indebtedness and other liabilities incurred in the acquisition of capital assets. Capital Outlays — A term used to cover the cost of acquiring property, of paying debt, and of carrying stores and work in progress out of revenue moneys. Contingent Liabilities — Obligations...
Page 21 - ... asset" accounts. Maintenance — A term applied to the care and upkeep of physical properties and equipment as distinct from operation or service performed. Current Assets — Things owned by a city which may be used in the work of operation and maintenance or to meet the cost thereof or which may be used to meet current liabilities.
Page 190 - VALUE OF LOCAL ADVISORY COMMITTEES It is a good plan to get a body of citizens committed to a movement of this kind and to this end it is desirable to organize an advisory committee consisting of leading local business men who will stand sponsor for a sound businesslike plan to reorganize the business and accounting procedure of the city. The prestige of such a committee will sometimes be strengthened by the organization of a committee of local experts. Such a committee would serve as a link between...
Page 22 - Balance Sheet — A statement of assets and liabilities contrasted in such a manner as to show the excess of the one over the other, such excess representing either a surplus or a deficit.
Page v - ... Buffalo schools, whose father is a revered head of one of that city's high schools. Those of you who are interested in the attempts of New York City to get at graft, not by looking for graft but by looking for inefficiency, will do well to write to Comptroller William A. Prendergast, 280 Broadway for " Manual of Accounting and Business Procedure for the City of New York," which gives a detailed description of the accounting system that the city of New York is now installing.
Page 22 - ... sometimes in property) contributed to an undertaking by a partner or other individual for supplying the means to operate such undertaking. The value or amount any individual has invested in an undertaking. Any principal sum which is used or retained to produce income or profit. CAPITAL ASSETS. Includes real estate, buildings, and other structures, equipment and other personal property of a more or less permanent character, and cash on hand specifically applicable to these assets. CAPITAL EXPENDITURES....
Page 76 - A second fundamental principle is that detail expense accounts should be so classified and analyzed that the results may be stated in relation to each question requiring official consideration without the cost and delay of re-analysis.