As used in this part 1, unless the context otherwise
requires:
(1) Appropriation means the authorization by ordinance or resolution of a
spending limit for expenditures and obligations for specific purposes.
(2) Basis of budgetary accounting means any one of the following methods
of measurement of timing when revenue and other financing sources and
expenditures and other financing uses are recognized for budget purposes:
(a) Cash basis (when cash is received and disbursed);
(b) Modified accrual basis (when revenue and other financing sources are
due and available and when obligations or liabilities are incurred for expenditures
and other financing uses, except for certain stated items such as, but not limited to,
prepaids, inventories of consumable goods, and interest payable in a future fiscal
year); or
(c) Encumbrance basis (the modified accrual basis, but including the
recognition of encumbrances).
(3) Budget means the complete estimated financial plan of the local
government.
(4) Budget year means the ensuing fiscal year.
(5) Certified means a written statement by a member of the governing
body or a person appointed by the governing body that the document being filed is
a true and accurate copy of the action taken by the governing body.
(6) Division means the division of local government in the department of
local affairs.
(7) Encumbrance means a commitment related to unperformed contracts
for goods or services.
(8) (a) Expenditure means any use of financial resources of the local
government consistent with its basis of accounting for budget purposes for the
provision or acquisition of goods and services for operations, debt service, capital
outlay, transfers, or other financial uses.
(b) Expenditure shall not include the payment or transfer of moneys by the
office of the public trustee created in section 38-37-101, C.R.S., that are received
from and required to be paid to another person or entity pursuant to the
requirements of article 37, 38, or 39 of title 38, C.R.S., including, but not limited to,
recording fees and publication costs pursuant to sections 38-38-101 and 38-39-102, C.R.S., and transfers of excess funds to the county treasurer made pursuant to
section 38-37-104 (3), C.R.S.
(9) Fiscal year means the period commencing January 1 and ending
December 31; except that fiscal year may mean the federal fiscal year for water
conservancy districts which have contracts with the federal government.
(10) Fund means a fiscal and accounting entity with a self-balancing set of
accounts in which cash and other financial resources, all related liabilities and
residual equities or balances, and changes therein are recorded and segregated to
carry on specific activities or to attain certain objectives in accordance with special
regulations, restrictions, or limitations.
(11) Fund balance means the balance of total resources available for
subsequent years' budgets consistent with the basis of accounting elected for
budget purposes.
(12) Governing body means a board, council, or other elected or appointed
body in which the legislative powers of the local government are vested.
(13) Local government means any authority, county, municipality, city and
county, district, or other political subdivision of the state of Colorado; any
institution, department, agency, or authority of any of the foregoing; and any other
entity, organization, or corporation formed by intergovernmental agreement or
other contract between or among any of the foregoing. The office of the county
public trustee shall be deemed an agency of the county for the purposes of this
part 1. Local government does not include the Colorado educational and cultural
facilities authority, the university of Colorado hospital authority, collegeinvest, the
Colorado health facilities authority, the Colorado housing and finance authority, the
Colorado agricultural development authority, the Colorado sheep and wool
authority, the Colorado beef council authority, the Colorado horse development
authority, the building urgent infrastructure and leveraging dollars authority, the
middle-income housing authority, the fire and police pension association, any public
entity insurance or investment pool formed pursuant to state law, any county or
municipal housing authority, any association of political subdivisions formed
pursuant to section 29-1-401, or any home rule city or town, home rule city and
county, cities and towns operating under a territorial charter, school district, or
local college district.
(14) Object of expenditure means the classification of fund data by
character of expenditure. Object of expenditure includes, but is not limited to,
personal services, purchased services, debt service, supplies, capital outlay, grants,
and transfers.
(15) Objection means a written or oral protest filed by an elector of the
local government.
(16) Revenue means all resources available to finance expenditures.
(17) Spending agency, as designated by the local government, means any
office, unit, department, board, commission, or institution which is responsible for
any particular expenditures or revenues.