Security issued by or on behalf of a local authority.

Credit risk is the risk that an investor or other counterparty to an investment will not fulfill its obligations.

Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of investments.

Government grants or other aid used to fund capital projects. These contributions are recognized as revenue when the expenditure is made and amount become subject to claim for reimbursement.

Tax imposed by municipalities based on the estimated value of property.

Capital Assets are all types of property that are held by a company or government entity for investment and useful purposes. While most types of property are considered capital assets, some types of property are not included as capital assets, including real property (land and buildings).

Fund used to report activities and accumulate and allocate the costs of services that are provided among the community government’s various functions.

Fiduciary funds are used to account for resources held for the benefit of parties outside of the community government. The local government is the trustee or fiduciary responsible for assets that can be used only for the trust beneficiaries per trust arrangements. Pension trust funds and agency funds are reported as fiduciary funds.

Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements.

Proprietary funds offer financial information about services for which the community chanrges customers, both external customers and internal departments of the local government.