§ 16-4-102 — Definitions

(a) As used in this act:
(i) "AICPA" means the American Institute of Certified
Public Accountants;
(ii) "Appropriation" means an allocation of money to
be expended for a specific purpose;
(iii) "Budget" means a plan of financial operations
for a fiscal year or two (2) fiscal years, embodying estimates
of all proposed expenditures for given purposes, the proposed
means of financing them and what the work or service is to
accomplish. "Budget" includes the budget of each fund for which
a budget is required by law and the collective budgets for all
the funds based upon the functions, activities and projects;
(iv) "Budget officer" means any official appointed by
the governing body of a municipality and the county clerk in the
case of counties;
(v) "Budget year" means the fiscal year or years for
which a budget is prepared;
(vi) "Current year" means the fiscal year in which a
budget is prepared and adopted for the ensuing budget year;
(vii) "Department" means a functional unit within a
fund which carries on a specific activity, such as a police
department within a city general fund, the office of an elected
county official or a major program category such as
"instruction" in a school district fund;
(viii) "Estimated revenue" means the amount of
revenues estimated to be received during the budget year in each
fund;
(ix) "Financial and compliance audit" means the
determination in accordance with generally accepted auditing
standards:
(A) Whether financial operations are properly
conducted;
(B) Whether the financial reports of an audited
entity are presented fairly; and
(C) Whether the entity has complied with
applicable laws and regulations.
(x) "Fiscal year" means the annual period for
recording fiscal operations beginning July 1 and ending June 30;
(xi) "Fund balance" means the excess of the assets
over liabilities, reserves and contributions, as reflected by a
municipality's books of account;
(xii) "Fund deficit" means the excess of liabilities,
reserves and contributions over fund assets, as reflected by a
municipality's books of account;
(xiii) "Independent auditors" means independent
public accountants who have no personal interest in the
financial affairs of the entity or in affairs of the officers of
the entity being audited and who audit under the standards
promulgated by the AICPA for state and local governments;
(xiv) "Municipality" means:
(A) All incorporated first class cities, towns
having a population in excess of four thousand (4,000)
inhabitants and all towns operating under the city manager form
of government;
(B) Counties;
(C) School districts;
(D) Community colleges.
(xv) "Proposed budget" means the budget presented for
public hearing as required by W.S. 16-4-109 and formatted as
required by W.S. 16-4-104(b);
(xvi) "Requested budget" means a budget presented by
the budget officer to the governing body on or before May 15;
(xvii) "Unanticipated income" means income which is
received during the budget year which could not reasonably have
been expected to be available during the current budget year;
(xviii) "Unappropriated surplus" means the portion of
the fund balance of a budgetary fund which has not been
appropriated or reserved in an ensuing budget year;
(xix) "Uniform chart of accounts" means the chart of
accounts designed for municipalities which have been approved by
the director of the state department of audit;
(xx) "This act" means W.S. 16-4-101 through 16-4-125.