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Glossary
2016-2020 FINANCIAL PLAN
Depreciation
- Expiration in the service life of capital assets attributable to wear and
tear, deterioration, exposure to elements, inadequacy, or obsolescence. It is also known
as amortization.
Development Cost Charges (DCC)
- Fees and charges contributed by developers to
support development and growth in the City.
Expenditure
- Costs incurred (whether paid or unpaid) for the purpose of acquiring an
asset, service or settling a loss.
External Recoveries
- Funds received from other organizations for services provided by
the City and its departments.
Fiscal Year
- A twelve-month period designated as the operating year for accounting
and budgeting purposes in an organization.
Fund
- A fiscal entity with segregated revenues and expenditures, and a specific purpose
or activity.
GDP
- Gross Domestic Product as provided by Statistics Canada.
Generally Accepted Accounting Principles (GAAP)
- The standards, conventions, and
rules prescribed for the recording of financial transactions and the preparation of
financial statements.
Goal
- A general, timeless statement of broad direction, purpose , or intent (see
objective).
Grants
- A contribution by a City or other organization to support a particular function,
or endeavor. Grants can be either operational or capital.
Guidepost
- See Goal.
GVRD
- Greater Vancouver Regional District.
GVS&DD
- Greater Vancouver Sewer & Drainage District.
GVTA
- Greater Vancouver Transit Authority.
GVWD
- Greater Vancouver Water District.
Infrastructure
- Large-scale, physical assets required for the operation of a society (e.g.,
streets, water, sewer, public buildings, and parks).
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