Glossary of Terms

(terms ordered alphabetically)

Assignable Square Feet (ASF). The usable space within buildings for teaching and work purposes (i.e., all classroom, office, lab spaces, conference, and meeting and support rooms). Non-assignable space is the area of the building used for foot traffic and utilities (i.e., entry foyers, lobbies, hallways, stairways, restrooms, custodial, closets, and mechanical spaces.)

Apportionment. Allocation of State or Federal aid, district taxes, or other moneys to community college districts or other governmental units.

Arbitrage. Classically, the simultaneous purchase and sale of the same or an equivalent security in order to profit from price discrepancies. In government finance, the most common occurrence of arbitrage involves the investment of the proceeds from the sale of tax-exempt securities in a taxable money market instrument that yields a higher rate, resulting in interest revenue in excess of interest costs.

Asset. A probable future economic benefit obtained or controlled by an entity as a result of past transactions or events. (See also Current assets and Fixed assets.)

Auditor’s opinion. A statement signed by an auditor which states that she or he has examined the financial statements of the entity in accordance with generally accepted auditing standards (with exceptions, if any) and expresses an opinion on the financial position and results of operations of some or all of the constituent funds and balanced account groups.

BMET (Bond Management Executive Tools). A web-based software solution specifically for use in bond fund capital construction programs. BMET integrates with the district’s financial/accounting software to provide real-time tracking and expenditure compliance, reports for communication, and keeps project information on public websites up to date.

Bond List Revision (BLR). Revisions to the Master Bond Project List via a Bond List Revision (BLR). Revisions to the Master Bond Project List may include changes to a project’s name, scope, and or budget.

Bonds authorized and un-issued. Legally authorized bonds that have not been sold.

Capital Improvement Program (CIP1). Phase 1 of the District’s capital improvement program mainly funded by Measure C general obligations bonds worth $207M approved by voters in 2002. CIP1 is also funded by other sources including but not limited to State Capital Outlay, State Scheduled Maintenance, Grants and PG&E Rebates.

Capital Improvement Program (CIP2). Phase 2 of the District’s capital improvement program mainly funded by Measure A general obligations bonds worth $468M approved by voters in 2005. CIP2 is also funded by other sources including but not limited to State Capital Outlay, State Scheduled Maintenance, Grants and PG&E Rebates.

Capital Improvement Program (CIP3). Phase 3 of the District’s capital improvement program mainly funded by Measure H general obligations bonds worth $388M approved by voters in 2014. CIP3 is also funded by other sources including but not limited to State Capital Outlay, State Scheduled Maintenance, Grants and PG&E Rebates.

Capital Outlay Projects Fund. The fund designated to account for the accumulation of receipts and disbursements for the acquisition or construction of capital outlay items. A fund established under Capital Projects Funds.

Capital Projects Funds. Category of funds in the Governmental Funds Group used to account for the acquisition of construction of capital outlay items.

Change Order. An amendment to a contract that changes the contractor’s scope of work or adjusts the amount of time the contractor has to complete the work, or both. An additive change order results in an increase in the contract price. A deductive change order is a type of change order which removes portions of the work, and typically result in a decrease in the contract price.

Debt service. Expenditures for the retirement of principal and interest on long-term debt.

Direct expenses or costs. Expenses specifically traceable to specific goods, services, activities, programs, functions, units, or departments. Direct expenses or costs differ from indirect expenses or costs in that the latter cannot be specifically traced and so must be allocated on some systematic and rational basis.

DSA. Division of State Architect.

Interest income. A sum of money received or due to be received for the use of money loaned or invested.

Encumbrances. Commitments related to unperformed (executory) contracts for goods or services. Used in budgeting, encumbrances are not GAAP expenditures or liabilities, but represent the estimated amount of expenditures ultimately to result if unperformed contracts in process are completed.

Expenditures. Decreases in net financial resources. Expenditures include current operating expenses requiring the present or future use of net current assets, debt service and capital outlays, and intergovernmental grants, entitlements and share revenues. Accounts kept on an accrual basis include all charges whether cash has been paid or not. Accounts kept on a cash basis include only actual cash disbursements.

Expenses. Outflows or other using up of assets or incurrences of liabilities (or a combination of both) from delivering or producing goods, rendering services or carrying out other activities that constitute the entity’s ongoing major or central operations.

Facilities Maintenance and Operations (FMO). A branch of the Facilities Department comprised of custodians, groundskeepers and engineers that support the daily maintenance and operations of buildings and grounds.

Final Project Proposal (FPP). Complete proposal for each CCC with justification and budget detail. Provides information on relationship between project and comprehensive education and facility master plans.

Fiscal year. A 12-month period to which the annual operating budget applies and at the end of which a government determines its financial position and the results of its operations. For governmental entities in the State of California, the period beginning July 1 and ending June 30.

Full-time Equivalent (FTE) Employees. Ratio of the hours worked based upon the standard work hours of one full-time employee. For example, classified employees may have a standard workload of 40 hours per week, if several classified employees worked 380 hours in one week, the FTE conversion would be 380/40 or 9.5 FTE.

Full-time Equivalent Students (FTES). An FTES represents 525 class (contact) hours of student instruction/activity in credit and noncredit courses. Full-time equivalent student (FTES) is one of the workload measures used in the computation of state aid for California Community Colleges.

Fund. An independent fiscal and accounting entity with a self-balancing set of accounts for recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein.

Fund balance. The difference between fund assets and fund liabilities of governmental and similar trust funds.

Fund group. Compilation of two or more individual funds used to report sources and uses or resources in providing some major service or group of services.

Furniture and Equipment. The Measure H Bond Project List includes purchases of furniture and equipment (including software), sometimes referred to as FF&E.

Generally Accepted Accounting Principles (GAAP). Uniform minimum standards and guidelines for financial accounting and reporting.

Generally Accepted Government Auditing Standards (GAGAS). These standards are a framework for conducting high quality audits with competence, integrity, objectivity, and independence.

Global Learning Program and Service (GLPS/Passport). A division at Skyline College that supports cultural awareness, appreciation of diversity and the globalization of the college and community.

Governmental Accounting Standards Board (GASB). The authoritative accounting and financial reporting standard-setting body for governmental entities.

Gross Square Feet (GSF). All of the floor space inside a building measured from the outside surfaces of exterior walls.

Independent Audit. An audit performed by an independent auditor.

Independent Auditor. An auditor meeting the independence criteria set forth in GAAS or GAGAS.

ITS. Information Technology Service

Initial Project Proposal (IPP). The purpose of the IPP is to introduce the concept and impacts on space intended by each project proposal so that efforts can be made to determine which projects should continue into more detailed planning and development.

Journal. Any accounting record in which financial transactions of an entity are formally recorded for the first time; e.g. the cash receipts book, check register, and journal voucher.

Journal voucher. A form provided for the recording of certain transactions or information in place of, or supplementary to, the journal or registers.

Junior College Accounting Form 32 (JCAF32). AKA Cost Estimate Summary and Anticipated Time Schedule. This is a State Chancellor’s Office form required for submission on a State funded project that delineates budgets within based on categories defined by the State Facilities Planning Unit.

Liabilities. Debt or other legal obligations (exclusive of encumbrances) arising out of transactions in the past that must be liquidated, renewed, or refunded at some future date.

Master Bond Project List. Defines the projects described in the ballot language. It includes project name and number, scope, budget, and Total (Bond Authorization + Interest Earnings).

MPOE. Main Point of Entry

NETX. Network Engineering Technology program that provides students with entry-level and advanced training in the fields of Network Technology and Security, including LAN Technology, cabling, fiber optics, routing, firewalls, server administration, desktop support and PC configuration and repair.

NFPA. National Fire Prevention Association

Notice of Award (NOA). Written confirmation of an award of contract by the Owner to a successful bidder, stating the amount of the award, the award date, and when the contract will be signed.

Notice of Completion (NOC). A written notice by the owner of a project to notify concerned parties (people or companies that provided labor or materials to the project) that all work on the project has been completed. This notice also sets the period within which concerned parties may exercise their lien rights against one another.

Project Initiation Form (PIF). An internal District form used to request project funding. The form includes a summary of scope, schedule and budget and needs to go through an approval process.

Project Summary Report. One of the Quarterly Financial Reports presented to the Bond Oversight Committee (CBOC). It provides current budget and expense information, Schedule Status updates on a per project level.

Purchase order. A document authorizing the delivery of specified merchandise or the rendering of certain services and the making of a charge for them.

Request for Proposal (RFP). A document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals. It is submitted early in the procurement cycle, either at the preliminary study, or procurement stage. RFPs have strict procurement rules for content, timeline and vendor responses and are used when the request has a specific project or problem.

Request for Qualification (RFQ). Also known as a Pre-Qualification Questionnaire. The RFQ is often distributed before the initiation of the RFP process. It is used to gather vendor information from multiple companies to generate a pool of prospects. This eases the RFP review process be preemptively short-listing candidates which meet the desired qualifications.

Request for Quote (RFQ). Is used when discussions with bidders are not required (mainly when the specifications of a product or service are already known) and when the price is the main or only factor in selecting the successful bidder. This may be used prior to issuing a full-blown RFP to determine general price ranges.

Requisition. A written demand or request, usually from one department to the purchasing officer or to another department, for specified articles or services.

Unencumbered balance. That portion of an appropriation or allotment not yet expended or obligated.

Useful life. The period of time that an asset is of physical useful value. It is established primarily for depreciation and insurance purposes.

Work in Progress (WIP). An asset representing the value of partially completed work.