A. Annual Budget - Financial plan embodying the estimates of income certified as reasonably collectible by the treasurer, and appropriations covering the proposed expenditures for the ensuing calendar year.
B. Budgetary Appropriations - Refers to the estimates of expenditures in a budget when finally approved by the appropriate authorities concerned.
C. Capital Outlay - Refers to the purchase of goods and services with a life-expectancy extending beyond the fiscal year and which add to the assets of the local government concerned, except furniture and equipment of nominal value usually used in the conduct of normal government operations.
D. Current Operating Expenditures - Refers to appropriations for the purchase of goods and services for current consumption within the fiscal yer, including the acquisition of furniture and equipment of nominal value usually used in the conduct of normal government operations.
E. Income - Covers all revenues and receipts collected or received, forming the gross accretions of funds of the government.
F. Receipts - Refers to income realized from operations and activities of the government or are received by the government in the exercise of its corporate functions, consisting of charges or services rendered or for conveniences furnished, or the price of commodity sold, as well as authorized contributions or aids from other entities except provisional advances for budgetary purposes.
G. Revenue - Refers to income derived from the regular system of taxation enforced under authority of law or ordinance, and as such, accrue more or less regularly every year.
H. Supplemental Budget - A supplementary financial plan embodying changes during the calendar year in the annual estimates of income and appropriations.
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