Terms Used In Florida Statutes > Chapter 218 - Financial Matters Pertaining to Political Subdivisions

• Agent: means the project architect, project engineer, or other agency or person acting on behalf of the local governmental entity. See Florida Statutes 218.72
• All receipts available: means the amount estimated to be available for distribution during the fiscal year as determined, and as amended from time to time, by the department. See Florida Statutes 218.21
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Auditor: means an independent certified public accountant licensed pursuant to chapter 473 and retained by a local governmental entity to perform a financial audit. See Florida Statutes 218.31
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the State Board of Administration. See Florida Statutes 218.403
• Chief Financial Officer: means the mayor, manager, administrator, clerk, comptroller, treasurer, director of finance, or other local government official, regardless of the title of his or her office, charged with administering the fiscal affairs of a unit of local government. See Florida Statutes 218.403
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Construction services: means all labor, services, and materials provided in connection with the construction, alteration, repair, demolition, reconstruction, or other improvements to real property. See Florida Statutes 218.72
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County: means a political subdivision of the state established pursuant to Florida Statutes 218.72
• County: means a political subdivision of the state as established pursuant to Florida Statutes 218.21
• County agency: means a board of county commissioners or other legislative and governing body of a county, however styled, including that of a consolidated or metropolitan government, a clerk of the circuit court, a separate or ex officio clerk of the county court, a sheriff, a property appraiser, a tax collector, a supervisor of elections, or any other officer in whom any portion of the fiscal duties of the above are under law separately placed. See Florida Statutes 218.31
• Current expenses: means expenses to meet known cash needs and anticipated cash-flow requirements for the short term. See Florida Statutes 218.403
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Financial Services. See Florida Statutes 218.31
• Department: means the Department of Revenue. See Florida Statutes 218.21
• Dependent: A person dependent for support upon another.
• Dependent special district: means a dependent special district as defined in…. See Florida Statutes 218.31
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Entitlement: means the amount of revenue which would be shared with an eligible unit of local government if the distribution from trust funds were based solely on the formula computation. See Florida Statutes 218.21
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Financial audit: means an examination of financial statements in order to express an opinion on the fairness with which they are presented in conformity with generally accepted accounting principles and an examination to determine whether operations are properly conducted in accordance with legal and regulatory requirements. See Florida Statutes 218.31
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• GASB: means the Governmental Accounting Standards Board. See Florida Statutes 218.403
• Generally accepted accounting principles: means those accounting principles adopted by rule of the Board of Accountancy under chapter 473. See Florida Statutes 218.31
• GFOA: means the Government Finance Officers Association. See Florida Statutes 218.403
• Governing body: means the body or board in which the legislative power of a unit of local government is vested. See Florida Statutes 218.403
• Grantor: The person who establishes a trust and places property into it.
• Guaranteed entitlement: means the amount of revenue which must be shared with an eligible unit of local government so that:
  (a) No eligible county shall receive less funds from the Revenue Sharing Trust Fund for Counties in any fiscal year than the amount received in the aggregate from the state in fiscal year 1971-1972 under the provisions of the then-existing…. See Florida Statutes 218.21
• Independent special district: means an independent special district as defined in…. See Florida Statutes 218.31
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legislative Auditing Committee: means a committee or committees designated by joint rule of the Legislature, by the President of the Senate or the Speaker of the House of Representatives, or by agreement between the President of the Senate and the Speaker of the House of Representatives. See Florida Statutes 1.01
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited revenue bonds: means any obligations issued by a unit to pay the cost of a project or improvement thereof, or combination of one or more projects or improvements thereof, and payable from funds, exclusive of ad valorem taxes, special assessments, or earnings from such projects or improvements. See Florida Statutes 218.31
• Local governing authority: means the governing body of a unit of local general-purpose government. See Florida Statutes 218.31
• Local governmental entity: means a county agency, a municipality, or a special district as defined in…. See Florida Statutes 218.31
• Local governmental entity: means a county or municipal government, school board, school district, authority, special taxing district, other political subdivision, or any office, board, bureau, commission, department, branch, division, or institution thereof. See Florida Statutes 218.72
• Management letter: means a statement of the auditor's comments and recommendations as prescribed by rules adopted by the Auditor General. See Florida Statutes 218.31
• Minimum entitlement: means the amount of revenue, as certified by a unit of local government and determined by the department, which must be shared with a unit of local government so that such unit will receive the amount of revenue necessary to meet its obligations as a result of pledges or assignments or trusts entered into which obligated funds received from revenue sources or proceeds which by terms of this act shall henceforth be distributed out of revenue sharing trust funds. See Florida Statutes 218.21
• minor: includes any person who has not attained the age of 18 years. See Florida Statutes 1.01
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipality: means a municipality created pursuant to general or special law and metropolitan and consolidated governments as provided in…. See Florida Statutes 218.21
• Municipality: means a municipality created pursuant to general or special law and metropolitan and consolidated governments as provided in…. See Florida Statutes 218.72
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oversight: Committee review of the activities of a Federal agency or program.
• Payment request: means a request for payment for construction services which conforms with all statutory requirements and all requirements specified by the local governmental entity to which the payment request is submitted. See Florida Statutes 218.72
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Personal property: All property that is not real property.
• political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 1.01
• Population: means the latest official state estimate of population certified pursuant to…. See Florida Statutes 218.21
• Population: means the latest official state estimate of population certified pursuant to…. See Florida Statutes 218.60
• Proper invoice: means an invoice that conforms with all statutory requirements and all requirements specified by the local governmental entity to which the invoice is submitted. See Florida Statutes 218.72
• Purchase: means the purchase of goods, services, or construction services; the purchase or lease of personal property; or the lease of real property by a local governmental entity. See Florida Statutes 218.72
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Revenue bonds: means any obligations issued by a unit to pay the cost of a project or improvement thereof, or combination of one or more projects or improvements thereof, and payable from the earnings of such project and any other special funds authorized to be pledged as additional security therefor. See Florida Statutes 218.31
• Second guaranteed entitlement for counties: means the amount of revenue received in the aggregate by an eligible county in fiscal year 1981-1982 under the provisions of the then-existing…. See Florida Statutes 218.21
• Short term: means a maximum of 6 months of operation. See Florida Statutes 218.403
• Special district: means a special district as defined in…. See Florida Statutes 218.31
• Surplus funds: means any funds in any general or special account or fund of a unit of local government, or funds held by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be immediately needed for the purposes intended. See Florida Statutes 218.403
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trust fund: means the pooled investment fund created by…. See Florida Statutes 218.403
• Trustee: A person or institution holding and administering property in trust.
• Unit of local general-purpose government: means a county or a municipality established by general or special law. See Florida Statutes 218.31
• Unit of local government: means any governmental entity within the state not part of state government and shall include, but not be limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporations, or any other political subdivision of the state. See Florida Statutes 218.403
• Unit of local government: means a county or municipal government and shall not include any special district as defined in part III. See Florida Statutes 218.21
• Utility tax relief: means a dollar amount which represents a reduction in taxes to be collected pursuant to ss. See Florida Statutes 218.60
• Vendor: means any person who sells goods or services, sells or leases personal property, or leases real property directly to a local governmental entity. See Florida Statutes 218.72
• Verified report: means a report that has received such test or tests by the department so as to accurately and reliably present the data that have been submitted by the local governmental entities for inclusion in the report. See Florida Statutes 218.31
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01