a finance ontology for global city indicators (iso...

GlobalCityIndicatorFinanceOntology 1

AFinanceOntologyforGlobalCityIndicators(ISO37120)

[email protected];[email protected]

EnterpriseIntegrationLaboratory,UniversityofToronto

5King’sCollegeRoad,TorontoON,M5S3G8

EILWorkingPaper,FirstPublished:6June2016

1. IntroductionAsLordKelvinsupposedlysaid1:"Ifyoucannotmeasureit,youcannotimproveit."Ifwewanttomakecitiessmarter,wehavetoimprovewhatcurrentlyexists,hencewehavetomeasurethem.Measuringacity’sperformanceisachallengegiventheirbreadthandcomplexity.Thestandardizationofcityindicators,asfoundinISO37120(2014),isafirststeptowardsmakingcitiessmarter.Butitisonlythefirststep.Thesecondstepistounderstandwhyacityisunderperforming.Inordertounderstandwhy,weneedtoknowtwothings:

1. Howacityisbeingmeasured.Inotherwordsthedefinitionoftheindicator,and2. Howthemeasurement(i.e.,indicatorvalue)wasderived.Inotherwordsdoesthederivationof

theindicatorconformtoitsdefinition.Thecurrentapproachtovalidatingacity’sreportedindicatorsisforthecitytosubmittoacertificationprocess.TheWorldCouncilonCityDataprovidesacertificationprocessforISO371202.Adrawbackofthecertificationprocessisthatthedatausedtoderiveindicatorvaluesremainsclosed;arecentstudyhasshownthatcitiesdonotopenlypublishthedatarequiredbycitizenstoverifyacity'sindicators(Fox&Pettit,2015).Consequently,withouttheunderlyingdata,wecannotidentifytherootcausesofacity'sperformance.Evenifwehadaccesstothedata,itistoolargeandcomplexforanordinarycitizentoanalyse.ThegoalofthePolisGnosisProjectistoautomatetheanalysisofcityperformanceinordertoidentifytheirrootcauses(Fox,2015).Inparticular,wewishistoautomatelongitudinalanalysis,i.e.,howandwhyacity’sperformancechangesovertime,andtransversalanalysis,i.e.,howandwhycities’performancedifferfromeachotheratthesametime.Wecarecreatinganintelligentagentthatisabletotakeasinput:anindicatordefinition,andthedatacitiesusetoderivetheirindicatorvalues,thenanalyseittodeterminetherootcausesoftheirperformance.Howeverbeforewecanfocusonanalysis,

1http://zapatopi.net/kelvin/quotes/2http://www.dataforcities.org/global-cities-registry/


wehavetosolvetheindicatorrepresentationproblem.Therepresentationproblemcanbedividedintofiveparts:

1. Howdowerepresentthemetadataassociatedwithapublishedindicatorvalue?Forexample,itsunits,scale,it’sprovenance(whenitwascreated,whocreatedit,whatprocesswasusedtocreateit),thedegreeofcertaintyinthevalue,andthedegreetowhichwetrusttheorganizationthatcreateditand/ortheprocesstheyused?

2. Howdowerepresentthedefinitionofanindicator?Inorderfortheanalysisofindicatorstobeautomated,thePolisGnosissystemmustbeabletoreadandunderstandthedefinitionofeachindicator,whichmaychangeovertime.

3. Howdowerepresentthedatausedtoderiveanindicatorvalue?Anindicatoristheapexofatreeofsupportingdatathatisaggregatedacrossplace,time,organizations,etc.Howisthisrepresented?

4. Howdowerepresentindicatorthemespecificknowledge?Eachtheme,suchasEducation,Health,Shelter,etc.,hasacoresetofknowledgethathastoberepresentedinboththedefinitionofanindicatorandinpublishinganinstanceofanindicatoranditssupportingdata.

5. Howdowerepresentacity'sthemespecificknowledge?Eachcitymaydefineconceptssuchas"primaryschool","grades","teachers",etc.differently.Differencesinindicatorvaluesmaybeduetodifferencesintheinterpretationofthesetermsbetweencities.

ThispaperdefinestheGCIFinanceOntologycomposedofclassescovering:Debt,AssetandLiability,Revenue,Expenditure,TaxandMonetarymeasures.ThedesignoftheGCIFinanceontologyisguidedbytherequirementtorepresentthedefinitionofISO37120FinanceThemeindicators,andprovideastandardontologyforcitiesthatwishtoopenlypublishthedatausedtoderivetheirFinanceindicators.Secondly,weusetheGCIFinanceOntologytorepresenteachISO37120FinanceIndicator.

2. IndicatorsandTheirCompetencyRequirementsBasedontheontologyengineeringmethodologyofGrüninger&Fox(1995),therequirementsfortheGCIFinanceontologyaredefinedbyasetofCompetencyQuestions(CQs).CQsarequestionsthattheontologymustbeabletosupporttheansweringofifitistorepresenttheindicatordefinition.Theyarederivedfromthedefinitionoftheindicators.Competencyquestionsfallintothefollowingcategories(Fox,2013):

• Factual(F):Questionsthataskwhatthevalueofsomepropertyis.• Consistency-Definitional(CD):Determinewhethertheinstantiationofanindicatorbyacityis

consistentwiththeISO37120definition.• Consistency-Internal(CI):Determinewhetherdifferentpartsoftheinstantiationareconsistent

witheachother.• Deduced(D):Avalueorrelationshipthatcanbededucedformtheinstantiation.

Ineachofthefollowingsubsections,weprovidetheISO37120definitionofeachindicatorandspecifyasetofCQsthatareentailedbythedefinition.


2.1. Debtserviceratio(debtserviceexpenditureasapercentageofamunicipality’sown-sourcerevenue)(coreindicator)(ISO37120:9.1)

ReproducedfromISO37120:“Debtserviceratioistheratioofdebtserviceexpendituresasapercentofamunicipality’sownsourcerevenue.Debtserviceratioshallbecalculatedasthetotallong-termdebtservicingcostsincludingleasepayments,temporaryfinancingandotherdebtcharges(numerator)dividedbytotalownsourcerevenue(denominator).Theresultshallthenbemultipliedby100andexpressedasapercentageofdebtserviceexpenditureasapercentofamunicipality’sown-sourcerevenue.

Totalownsourcerevenueshallbecalculatedasthetotalrevenuelesstransfers.”CompetencyQuestions

1. (F)Whatcityistheindicatorfor?2. (CI)Forwhattimeperiodisthedebtserviceexpenditureofamunicipalitymeasured?Forwhat

timeperiodisamunicipality’sown-sourcerevenuemeasured?3. (F)Whatarethemunicipality’stotalexpenditureanddebtforthefiscalyear?4. (D)Whatpercentageofthetotaldebtisrepaid?5. (F)Whattypesofdebtareincludedinthemunicipality’sdebtexpenditure?6. (D)ForeachdebtexpendituretypeX,whatpercentagedoesitcontributetothetotaldebt

expenditure?7. (F)ForeachdebttypeX:Whoisthecreditor?Whatistheinterestrate?Whatisthepayment

periodandwhatarethepaymentterms?8. (D)WhatpercentageofeachdebttypeXisrepaid?9. (F)Whatisthetotalrevenueforthefiscalperiod?10. (F)Whatisthetotaltransfersrevenueforthefiscalperiod?11. (F)Whatisamunicipality’sown-sourcerevenue?12. (D)ForeachrevenuetypeY,whatpercentagedoesitcontributetothetotalown-source

revenue?13. (F)Fromwhichsourcesdotransferrevenuesoriginate?14. (F)Whatcurrencyandexchangeratioareusedinreportingdebtserviceexpenditureandown-

sourcerevenue?

2.2. Capitalspendingasapercentageoftotalexpenditures(supportingindicator)(ISO37120:9.2)

ReproducedfromISO37120:“Thecapitalspendingasapercentageoftotalexpendituresshallbecalculatedasthetotalexpenditureonfixedassetsintheprecedingyear(numerator)dividedbythetotalexpenditure(operatingandcapital)(denominator)bythecityinthatsameperiod.Theresultshallthenbemultipliedby100andexpressedasapercentageofcapitalspendingasapercentoftotalexpenditures.”


“NOTE Fixedassetsarenotexpectedtobeconsumedorconvertedintocashinthenormalsourceofbusiness.Theyarelong-term,morepermanentor“fixed”items,suchasland,building,equipment,fixtures,furniture,andleaseholdimprovements.”

CompetencyQuestions

1. (CI)Forwhattimeperiodisthecapitalspendingofamunicipalitymeasured?Forwhattimeperiodareamunicipality’stotalexpendituresmeasured?

2. (F)Whichfixedassetsareincludedwhencalculatingthecapitalspending?3. (D)WhatpercentageofthecapitalspendingdoesfixedassetXcontributeto?4. (F)ForafixedassetX,isitrented,leasedorpurchased?5. (F)ForwhatperiodoftimeisthemunicipalityinpossessionoffixedassetX?Whatarethe

termsonobtainingassetX?6. (F)Whatsourcescontributetothetotaloperatingexpenditure?7. (D)WhatpercentageoftheoperatingexpendituredoesexpenseitemYcontributeto?

2.3. Own-sourcerevenueasapercentageoftotalrevenues(supportingindicator)(ISO37120:9.3)

ReproducedfromISO37120:“Own-sourcerevenueasapercentageoftotalrevenuesshallbecalculatedasthetotalamountoffundsobtainedthroughpermitfees,userchargesforcityservices,andtaxescollectedforcitypurposesonly(numerator),dividedbyalloperatingorre-occurringrevenuesincludingthoseprovidedbyotherlevelsofgovernmenttransferredtothecity(denominator).Theresultshallthenbemultipliedby100andexpressedasapercentage.

Own-sourcerevenueasapercentageoftotalrevenuesrepresentthepercentageoflocalgovernmentrevenuesoriginatingfromfees,chargesandtaxesaspermittedbylaworlegislationinrelationtoallrevenuesincludingthoseprovidedbyotherlevelsofgovernment,(whichincludesoperatingorreoccurringrevenuesdeterminedthroughmethodssuchasformuladrivenpaymentsorrepatriationofincometax,grantdonationsfromhighergovernmentlevelsincludingnationalorstategovernmentsandothertypesoffinancialtransfersthatmaybetiedtothedeliveryofspecificservices.”

Competencyquestions:

1. (CI)Forwhattimeperiodistheown-sourcerevenueofamunicipalitymeasured?Forwhattimeperiodareamunicipality’stotalrevenuesmeasured?

2. (F)Whatisthebudgetforown-sourcerevenueandtotalrevenuesforthefiscalyearmeasured?3. (F)Whatrevenuesourcesdoesamunicipality’sown-sourcerevenuecomprise?4. (F)Whatrevenuesourcesdothetotalrevenuesinclude?5. (D)Whatpercentageofown-sourcerevenuedoesrevenueXcontributeto?Whatpercentage

ofthetotalrevenuesdoesXcontributeto?6. (F)IsrevenueXanoperatingorrecurringrevenue?


2.4. Taxcollectedasapercentageoftaxbilled(supportingindicator)(ISO37120:9.4)ReproducedfromISO37120:

“Thetaxcollectedasapercentageoftaxbilledmeasurestheratiooftheactualtaxcollectedtothemandatedtax.Itshallbecalculatedasthetotalrevenuesgeneratedbytaxcollection(numerator)dividedbytheamountoftaxesbills(denominator).Theresultshallthenbemultipliedby100andexpressedasapercentage.”

Competencyquestions:

1. (CI)Forwhattimeperiodisthetaxcollectedandtaxbilledmeasured?2. (F)Aretheindividualtaxpayersresidentsofthecity?Arethelegalentitytaxpayersbasedinthe

city?3. (F)WhatistheageandemploymentstatusofindividualtaxpayerX?4. (F)WhatistheownershiptypeoflegalentitytaxpayerX?5. (F)Whattypesoftaxesdotaxcollectedandtaxbilledcomprise?6. (D)WhatpercentageoftaxcollectedandtaxbilleddoestaxYcontributeto?7. (F)Whatarethethreshold,rateandimposingagentfortaxY?Whatisthepenaltyforfailureto

paytaxYontime?

3. BackgroundTheGCIFinanceontologyisbuiltontheGlobalCityIndicatorFoundationOntology(Fox,2013;2015)3,whichintegratesthefollowingontologies:

• Time(Hobbs&Pan,2006),• Measurement(Rijgersbergetal.,2011),• Statistics(Pattuelli,2009),• Validity(Fox&Huang,2005),• Trust(Huang&Fox,2006),and• Placenames(www.geonames.org),

andextendsthemwithcityindicatorspecificconceptsofpopulations,measurements,etc.InthissectionwereviewexistingFinanceontologiesthatwemayre-useinorinspireourontologydesign.MostoftheontologieswereviewedlackCQs,nordidtheyhavedocumentation,whichmadetheirevaluationmoredifficult.Themajorityofthefinancialontologiesfocusonfinancialinstrumentsandindustries,andwecouldnotfindanyontologiesthatfocusedonpublicfinance.

3.1. Resourcesandontologiesthatprovideinformationdirectlyrelevanttomunicipalfinance

OpenCYC(Matuszeketal.,2006)containedthelargestnumberofclassesandpropertiespertinenttoourcompetencyquestions4.Theclassesarecomparativelywelldefined.Theconceptswere-usedfromOpenCYCinclude‘asset’,‘monetaryvalue’,‘expensefigure’and‘revenue’.

3TheGCIFoundationontologycanbefoundathttp://ontology.eil.utoronto.ca/GCI/GCI-Foundation.owlalongwithitsdocumentationathttp://ontology.eil.utoronto.ca/GCI/GCI-Foundation.html.Wewillusetheprefix“gci”whereneeded.


Theclass‘cyc:asset’isasubclassof‘cyc:Possession’,andisdefinedasaclassofwhich“Eachinstanceisananythingofmaterialvalueorusefulness.”InordertoanswerthecompetencyquestionsraisedforthesecondGCIFinanceIndicator,weneedclassestocaptureconceptsaboutfixedassets,whichisatypeofassets.AlthoughISO37120doesnotincludeadirectdefinitionoffixedassets,itdoeslistexamplesoffixedassets,allofwhichbeingoflong-termorpermanentmaterialvalueorusefulness.ThisconceptisconsistentwiththedefinitionprovidedbyOpenCYC.Similarly,were-usecyc:’intangibleasset’asasubclassofcyc:Asset.AlthoughOpenCYCdoesnotprovideanexplicitdefinitionfor‘intangibleasset’,itdoesspecifythatitisequivalenttothisconceptdefinedatWikipedia5.

ISO37120standardshavelistedbuildingandfixtureasexamplesoffixedassets.Cyc:buildingandcyc:fixturearesubsumedbycyc:’architectural_structure’andcyc:’solidobject’,respectively,andarethereforerelevanttothefixedassetcategoriesmentionedabove.

Inordertomeasurethesizesofmonetaryquantitiesforallfourindicators,weneedaconcepttocapturemonetaryvalues.OpenCYChasaclass‘monetaryvalue’whichisdefinedasacollectionofwhicheachinstanceis“avaluebymeansofwhichpayments,wealth,capital,assets,etc.,aremeasured”.Italsoindicatesthat“eachinstanceofthiscollectionisanabstractobject,nottobeconfusedwiththephysicalobjectsusedaslegaltender”.Thisconceptisconsistentwithwhatweneedinordertoanswerthecompetencyquestions.Cyc:’monetaryvalue’isaccompaniedwithcomments“SinceinstancesofMonetaryValuearenotpurenumbersbutquantitiesofsomeparticularcurrency,theyaredenotedbymeansofthecollectionUnitOfMoney”.Theconcept“UnitOfMoney”iswhatweneedtocapturetheunitsofmonetaryquantities,andconsistentwithgci:’MonetaryUnit’,whichwillbeusedinourontology.

OpenCYCdefinesnumeroussubtypesof‘monetaryvalue’,suchas‘closingprice’and‘grossincome’.Weusetwoofthesesubclassestohelpanswerthecompetencyquestions:‘expensefigure’and‘revenue’.AlthoughOpenCYCdoesn’tprovidedirectdefinitionfortheseterms,itdoesspecifythat‘expensefigure’hasEnglishaliases‘expense’,andthat‘revenue’hasEnglishaliases‘monetaryvaluesthatisrevenueofasocialagent’and‘valueofwhichsomeparticularsocialagenthasrevenue’.Sincebothclassesaresubsumedbycyc:’monetaryvalue’,thesealiasesindicatethattheycaptureconceptsthatmeasuremonetaryquantitiesforexpenseandrevenue,andcanbeusedtoconstructanswerstothecompetencyquestions.

SUMO(Niles&Pierce,2001)isanupperlevelontologythatcontainsabroadspanofconcepts6,andalsocontainsclassespertinenttoourcompetencyquestions.Anumberofcompetencyquestionsaredirectlyrelatedtothedebtofthemunicipality.Torefinethedefinitionofdebt,weneedtointroduceconceptssuchasdebtorandcreditor.ThenatureoftheISO37120standardsimpliesthatwhenspeakingofdebt,wemeanthedebtofthemunicipality,whichisthereforethedebtor.Sumo:Creditor

4TheOpenCYContologycanbefoundathttp://sw.opencyc.org/.Wewillusetheprefix“cyc”whereneeded.5Thedefinitionfor‘intangibleasset’canbefoundathttps://en.wikipedia.org/wiki/Intangible_asset.6TheSUMOontologycanbefoundathttp://ontologyportal.org/sumo.owl.Wewillusetheprefix“sumo”whereneeded.


isdefinedas“apersontowhommoneyisowedbyadebtor;someonetowhomanobligationexists”,whichisconsistentwithourunderstandingfortheconceptcreditor.ThelastFinanceindicatorexplicitlyconcernstax.InSUMOOntology,theconcept‘Tax’hasthedefinitionof“chargeagainstacitizen'spersonorpropertyoractivityforthesupportofgovernment”.Wethereforeusethisclassasatypeofown-sourcerevenue,asdefinedinISO37120standards.

SUMOalsocontainsclasses‘Equipment’and‘Furniture’,whichareconsistentwiththedefinitionfromISOFinanceindicatorsfortheseterms.

3.2. ResourcesandontologiesindirectlyrelatedtomunicipalfinanceSchema.orgcontainsawiderangeofconceptsandproperties7.However,itdoesnotincludeschemasdirectlyrelatedtofinancialmatters.Instead,itprovidesdefinitions,propertiesandaxiomsforconceptssuchasOrganizationandPerson.Inourontology,wewillutilizeitsPersonclass.TheclassOrganizationhasalreadybeendefinedandincludedintheGCIFoundationontology,whichwillbeusedinourcomputationalrepresentationoftheFinanceindicators.

WhensearchingforclassesandpropertiesrelatedtoFinanceorPublicFinance,wecameacrossthetermFinancialServiceinschema.org.However,thisclassdescribesthefinancialservicesbusiness,andisclassifiedunderPlaceandOrganization.Inourstudyregardinggovernmentfinanceandfinancialservices,wefocusonthebranchofeconomicsthatassessesthegovernmentrevenueandgovernmentexpenditureofthepublicauthoritiesandtheadjustmentofoneortheothertoachievedesirableeffectsandavoidundesirableones8.Sc:FinancialServiceisthusirrelevantanddoesnotoverlapwiththetermsinourontologies.

Sc:AccountingServiceisasubclassofsc:FinancialService,andthereforeinheritsallthepropertiesfromFinancialService.ItisalsoasubclassofPlaceandOrganization,andwecannotuseitforourpurposes.

3.3. OtherontologiesreviewedFIBO(FinancialIndustryBusinessOntology,Bennett,2013)byObjectManagementGroupisoneofthemostimportanteffortsintheFinanceindustrytostandardizeknowledgerepresentation.IthasincludedproperdocumentationtoexplainthecontentsandapplicationsofFIBO,butmainlycontainsconceptsregardinginvestmentandbusinessreporting.FIBOcontainsclassessuchasEquities,DerivativesandLoans,andtheyareallsubclassofFinancialInstruments.Althoughpublicfinanceisinfluencedbythefinancialmarkets,financialinstrumentssuchasbondsandsecuritiesarenotneededinordertoanswerthecompetencyquestions.FIBOalsodefines‘monetaryamount’as‘themeasurewhichisanamountofmoneyspecifiedinmonetaryunits’9,whichisconsistentwithOpenCYC’sdefinitionfor’monetaryvalue’.

7Thisontologycanbefoundunderhttp://schema.org/.Wewillusetheprefix“sc”whereneeded.8Thedefinitionofpublicfinancecanbefoundathttps://en.wikipedia.org/wiki/Public_finance.9http://www.omg.org/spec/EDMC-FIBO/FND/Accounting/CurrencyAmount.rdf.


OtherseeminglyusefulontologiesthatwehavediscoveredincludetheLSDISFinanceontology10,whichcontainsimportantfinancialconceptssuchasequityandliability.However,thesearesimplyemptyclasses,anddonotincludedefinitionsorpropertiestohelpidentifywhethertheyrepresentthecorrectconceptsandcanbereused.

4. ArchitectureoftheISO37120OntologyAsexplainedintheIntroductionofthispaper,ISO37120defines100globalcityindicators.Thefollowingdiagram(Fox,2013)depictsthemodulesthatareusedtodefinetheISO37120indicators.Theinternationalizedresourceidentifier(IRI)foreachISO37120indicatoriscontainedintheISO37120moduleatthehighestlevel.Forexample,theIRIfortheDebtServiceRatioindicatoris:“http://ontology.eil.utoronto.ca/ISO37120.owl#9.1”.AnISO37120theme'sindicatorsaredefinedinaseparatefile.AcompleteOWLdefinitionforallfouroftheGCIFinanceindicatorscanbefoundinISO37120-Finance.owl.TheGCIOntologylevelprovidesspecificontologiesrequiredtodefineeachtheme'sindicators.TheFinanceindicatorsaredefinedwithconceptssuchasrevenue,expenditure,debt,creditor,etc.TheseconceptsarecapturedinGCI-Finance.owl,andareusedinISO37120-Finance.owl.AlloftheontologiesspecifictoindividualthemesarebuiltonbaseonGCIFoundationontology,whichdefinesgenericconceptssuchasmonetaryunitsandratios,meta-information,etc.TheEnterpriseOntologylevelcontainstheTOVEEnterpriseModelingontologies(Fox&Gruninger,1998).HereonlyOrganization.owl(Foxetal.,1998)isshown11.Lastly,theFoundationOntologylevelcontainstheverybasicontologieswhichserveasthefoundationforeverythingabove.

10http://lsdis.cs.uga.edu/projects/meteor-s/wsdl-s/ontologies/LSDIS_FInance.owl11The Organization ontology can be found at http://ontology.eil.utoronto.ca/organization.owl along with its documentation at http://ontology.eil.utoronto.ca/organization.html. We will use the prefix “org” where needed.


Figure1:ISO37120OntologyModules(Fox,2013)

5. GCIFinanceOntologyInordertoanswerthecompetencyquestions,additionalclasses,propertiesandaxiomsarerequiredtocoverthefollowingaspects:

• Thetypesofdebtandassetsamunicipalityhas,andthepropertiesandtermsofthedebt,• Thesourcesthatcontributetorevenue,andwhattypeofrevenueeachsourcecontributesto,• Thetypesofexpenditures,andthepurposeofeachexpenditure,and• Thetypesoftaxesandtaxpayersfortaxcollectedandtaxbilled.

InthissectionweprovidedescriptionoftheclassesandpropertiesdefinedintheGCIFinanceOntology.TheGCIFinanceontologycanbefoundathttp://ontology.eil.utoronto.ca/GCI/Finance/GCI-Finance.owl.

5.1. Debt,AssetandLiabilityClassesSomeofthecompetencyquestionsaredirectlyrelatedtodebt,assetsandliability:

1. (F)Whatarethemunicipality’stotalexpenditureanddebt?2. (D)Whatpercentageofthetotaldebtisrepaid?

ISO37120

Education.owl

Energy.owl

Finance.owl

Health.owl

Education.owl

GCI-Energy.owl Finance.owl

GCI-Health.owl

Foundation.owl

organization.o

ontology_v3

(Geonames)

govstat.owl (Statistics)

trust.owl


3. (F)Whattypesofdebtarepaidforbyamunicipality’sdebtexpenditure?4. (D)ForeachdebtexpendituretypeX,whatpercentagedoesitcontributetothetotaldebt

expenditure?5. (F)ForeachdebttypeX:Whoisthecreditor?Whatistheinterestrate?Whatisthepayment

periodandwhatarethepaymentterms?6. (D)WhatpercentageofeachdebttypeXisrepaid?7. (F)Whichfixedassetsareincludedwhencalculatingthecapitalspending?8. (D)WhatpercentageofthecapitalspendingdoesfixedassetXcontributeto?9. (F)ForafixedassetX,isitrented,leasedorpurchased?10. (F)ForwhatperiodoftimeisthemunicipalityinpossessionoffixedassetX?Whatarethe

termsonobtainingassetX?

Figure2:DebtTaxonomy

ThetaxonomyofDebtisderivedfromthedefinitionsinISO37120forcoreindicator–debtserviceratio:“Debtserviceratioshallbecalculatedasthetotallong-termdebtservicingcostsincludingleasepayments,temporaryfinancingandotherdebtcharges...”Therefore,theDebtclasssubsumesLeasePayments,TemporaryFinancingandOtherDebt.ThefollowingtabledescribesthepropertiesandaxiomsoftheclassDebt.Eachdebtitemsmayhaveonecode(ID),exactlyoneduedate,oneinterestrate,onepaymentterms,andsomecreditor.AllthesubclassesofDebtalsoinheritthesepropertiesandaxioms.Class Property ValueRestrictionDebt owl:subClassOf GCIFinanceThing

due_Date exactly1xsd:dateTimehas_Amount exactly1cyc:'monetaryvalue'has_Code max1xsd:stringhas_Creditor min1CreditorinterestRate exactly1xsd:doublepaymentTerms exactly1xsd:string

LeaseFinancing owl:subClassOf Debtlease_Property min1Asset


TemporaryFinancing owl:subClassOf Debthas_Liability someCurrentLiability

OtherDebt owl:subClassOf DebtIntheabovetable,acreditorisanindividualororganizationthatthemunicipalityowesmoneyto.TheclassCreditorhastwosubclasses:CreditorIndividualandCreditorOrganization,whichareunderPersonandOrganizationclasses,respectively.Theywillbeexplainedindetailinsection5.4.Eachdebtitemhasanamountthatisamonetaryvalue.Amonetaryvalueisatypeofquantity,asexplainedinsection5.6.ThefollowingdiagramdescribesthetaxonomyofAssetclasses.Twomajorassetclassesaretangibleassetsandintangibleassets12.ISO37120andourcompetencyquestionsonlyconcernFixedAssetdirectly,whichisasubclassofTangibleAsset,becausefixedassetsaredirectlytiedtocapitalspendingasthenumeratorofthesecondGCIFinanceindicator.ISO37120:9.2definesfixedassetsas"long-term,morepermanentor'fixed'items,suchasland,building,equipment,fixtures,furniture,andleaseholdimprovements".Thesecategories,suchasland,buildingandequipment,arethesubclassesofFixedAsset.

Figure3:AssetTaxonomy

Class Property ValueRestrictioncyc:Asset owl:subClassOf GCIFinanceThing

ending_Month exactly1xsd:intending_Year exactly1xsd:inthas_Owner someOrganizationhas_Owner somePersonstarting_Month exactly1xsd:intstarting_Year exactly1xsd:int

cyc:’intangibleasset’ owl:subClassOf AssetdisjointWith TangibleAsset

12ThisclassificationcomesfromWikipedia:https://en.wikipedia.org/wiki/Asset.


TangibleAsset owl:subClassOf AssetdisjointWith cyc:'intangibleasset'

FixedAsset owl:subClassOf TangibleAssetCurrentAsset owl:subClassOf TangibleAssetcyc:building owl:subClassOf FixedAssetsumo:Equipment owl:subClassOf FixedAssetcyc:fixture owl:subClassOf FixedAssetsumo:Furniture owl:subClassOf FixedAssetLand owl:subClassOf FixedAssetLeaseholdImprovement owl:subClassOf FixedAssetOtherFixedAsset owl:subClassOf FixedAssetLiabilityclassesarenotdirectlymentionedinISOstandards,buttheyareinseparablefromDebtconcepts.Currentliabilitydescribesallliabilitiesofthebusinessthataretobesettledincashwithinthefiscalyearortheoperatingcycleofagivenfirm,whicheverperiodislonger13.Thepropertyhas_LiabilityhavingarangeofCurrentLiabilitydistinguishestemporaryfinancingfromleasefinancing.Payablesoveratermexceedingoneyearwouldbefixedliabilitiesorlong-termliabilities.

Figure4:LiabilityTaxonomy

Class Property ValueRestrictionLiability owl:subClassOf GCIFinanceThing

ending_Month exactly1xsd:gMonthending_Year exactly1xsd:gYearstarting_Month exactly1xsd:gMonthstarting_Year exactly1xsd:gYear

CurrentLiability owl:subClassOf LiabilitydisjointWith {FixedLiability,LongTermLiability}

FixedLiability owl:subClassOf LiabilitydisjointWith {CurrentLiability,LongTermLiability}

LongTermLiability owl:subClassOf LiabilitydisjointWith {FixedLiability,CurrentLiability}

13https://en.wikipedia.org/wiki/Current_liability


5.2. RevenueClassesSomeofthecompetencyquestionsaredirectlyrelatedtopublicrevenue:

1. (CI)Forwhattimeperiodisamunicipality’sown-sourcerevenuemeasured?2. (F)Whatisthetotalrevenueforthefiscalperiod?3. (F)Whatisthetotaltransfersrevenueforthefiscalperiod?4. (F)Whatisamunicipality’sown-sourcerevenue?5. (D)ForeachrevenuetypeY,whatpercentagedoesitcontributetothetotalown-source

revenue?6. (F)Fromwhichsourcesdotransferrevenuesoriginate?7. (F)Whatcurrencyandexchangeratioareusedinreportingdebtserviceexpenditureandown-

sourcerevenue?8. (CI)Forwhattimeperiodistheown-sourcerevenueofamunicipalitymeasured?Forwhattime

periodareamunicipality’stotalrevenuesmeasured?9. (F)Whatisthebudgetforown-sourcerevenueandtotalrevenuesforthefiscalyearmeasured?10. (F)Whatrevenuesourcesdothetotalrevenuesinclude?11. (D)Whatpercentageofown-sourcerevenuedoesrevenueXcontributeto?Whatpercentage

ofthetotalrevenuesdoesXcontributeto?12. (F)IsrevenueXanoperatingorrecurringrevenue?

Twooftheindicators(ISO37120:9.1andISO37120:9.3)directlyinvolverevenueofthecitygovernment,andISO37120:9.4concernstax,whichisasubclassofpublicrevenue.ThissectionexplainsthetaxonomyoftheRevenueclass,aswellasitspropertiesandaxioms.ISO37120:9.1(debtserviceratio)definestotalownsourcerevenueastotalrevenuelesstransfers,whereasISO37120:9.3(own-sourcerevenueasapercentageoftotalrevenues)definesownsourcerevenueasthetotalamountoffundsobtainedthroughpermitfees,userchargesforcityservices,andtaxescollectedforcitypurposesonly.

Figure5:RevenueTaxonomy

Class Property ValueRestrictionRevenue owl:subClassOf GCIFinanceThing

has_amount exactly1cyc:'monetaryvalue'


revenueSource min1xsd:stringhasCode max1xsd:string

PrivateRevenue owl:subClassOf RevenuedisjointWith PublicRevenue

PublicRevenue owl:subClassOf RevenuedisjointWith PrivateRevenue

OwnSourceRevenue owl:subClassOf PublicRevenueTransfersRevenue owl:subClassOf PublicRevenuesumo:Tax has_Taxpayer onlyTaxPayer

imposed_By min1OrganizationAgenttax_Rate min1xsd:doubletax_Threshold exactly1xsd:doubleowl:subClassOf OwnSourceRevenue

Fees owl:subClassOf OwnSourceRevenueCharges owl:subClassOf OwnSourceRevenueRecurringRevenue owl:subClassOf PublicRevenueOperatingRevenue owl:subClassOf PublicRevenueEachrevenueitemmayhaveanIDorcodeassociatedtoit,dependingontheformatofreporting.OwnSourceRevenuecanbeclassifiedintotax,feesandcharges,asexplainedinIntroductiontoPublicFinance(Plehn,1902),aswellasinthedefinitionforownsourcerevenueinISO37120:9.3.Publicrevenuecantakeformofoperatingrevenueorre-occurringrevenue,alsoasindicatedinISO37120:9.3.Additionally,publicrevenuecanbeexpressedasownsourcerevenueplustransfers,basedonISO37120:9.1.TaxisthesubclassofrevenuethatwewillfocusonforthefourthFinanceindicator.Eachtaxitemhasataxpayer,whichcanbeanindividualoranorganization,andarateandthresholdoftaxcollection.Thetaxonomyoftaxwillbefurtherexplainedinthefollowingsections.AllthesubclassesofRevenueinherititsproperties.

5.3. ExpenditureClassesSomeofthecompetencyquestionsarepertinenttopublicspending:

1. (CI)Forwhattimeperiodisthedebtserviceexpenditureofamunicipalitymeasured?2. (F)Whatarethemunicipality’stotalexpenditureanddebt?3. (D)Whatpercentageofthetotaldebtisrepaid?4. (F)Whattypesofdebtarepaidforbyamunicipality’sdebtexpenditure?5. (D)ForeachdebtexpendituretypeX,whatpercentagedoesitcontributetothetotaldebt

expenditure?6. (F)Whatcurrencyandexchangeratioareusedinreportingdebtserviceexpenditureandown-

sourcerevenue?7. (CI)Forwhattimeperiodisthecapitalspendingofamunicipalitymeasured?Forwhattime

periodareamunicipality’stotalexpendituresmeasured?8. (D)WhatpercentageofthecapitalspendingdoesfixedassetXcontributeto?


9. (F)Whatsourcescontributetothetotaloperatingexpenditure?10. (D)WhatpercentageoftheoperatingexpendituredoesexpenseitemYcontributeto?

Figure6depictsthetaxonomyforpublicexpenditureintheGCIFinanceontology.Sincethecounterpartofcapitalexpenditureisoperationalexpenditure14,anyoneofamunicipality’sexpenseitemsshouldbeeithercapitalspendingoroperatingexpenditure.Bydefinitionofoperatingexpense15,DebtExpenditureisasubclassofOperatingExpenditure.ISO37120:9.1specifiesthat"totallong-termdebtservicingcostsincludeleasepayments,temporaryfinancingandotherdebtcharges",whichiswhatwebaseontocreatesubclassesofDebtExpenditure.ThesumofthesethreetypesrepresentTotalDebtExpenditure.

Figure6:ExpenditureTaxonomy

ThefollowingtableshowsthepropertiesofExpenditureanditssubclasses.Class Property ValueRestrictionExpenditure expensePurpose min1String

has_Code max1Stringhas_amount exactly1‘monetaryvalue’om:unit_of_measure gct:’MonetaryUnit’owl:subClassOf GCIFinanceThing

CapitalSpending expense_For SomeFixedAssetowl:subClassOf PublicExpendituredisjointWith OperatingExpenditure

DebtExpenditure expense_For SomeDebtowl:subClassOf OperatingExpenditure

PublicExpenditure owl:subClassOf ExpendituredisjointWith PrivateExpenditure

PrivateExpenditure owl:subClassOf ExpendituredisjointWith PublicExpenditure

14DetailedexplanationcanbefoundonWikipedia:https://en.wikipedia.org/wiki/Capital_expenditure.15https://en.wikipedia.org/wiki/Operating_expense.


OperatingExpenditure owl:subClassOf PublicExpendituredisjointWith CapitalSpending

TotalPublicExpenditure owl:subClassOf PublicExpendituresum_Term only(CapitalSpendingor

OperatingExpenditure)LeasePayments owl:subClassOf DebtExpenditure

expense_For someLeaseFinancingdisjointWith {TemporaryFinancingPayment,

OtherDebtCharges}TemporaryFinancingPayment owl:subClassOf DebtExpenditure

expense_For someTemporaryFinancingdisjointWith {LeasePayments,OtherDebtCharges}

OtherDebtCharges owl:subClassOf DebtExpenditureexpense_For someOtherDebtdisjointWith {TemporaryFinancingPayment,

LeasePayments}Likerevenue,eachexpenditureitemmighthaveitscodeorIDdependingontheformatofreporting.Atthesametime,eachexpenditureitemhasapurpose,orreasonofexpense.CapitalSpending,accordingtoitsdefinitioninISO37120:9.2,isthetypeofexpenditureonfixedassets,andDebtExpenditureisthetypeofexpensefordebtitems.Bothrelationshipsarecaptureswiththepropertygcif16:expense_For.Allotherexpendituresubclasseswithoutexplicitexpensesubjectsthatarepertinenttoourindicatorshavethepropertygcif:expensePurpose,whosevalueisaString.EachsubclassofExpenditureinheritsitsproperties.

5.4. PersonandOrganizationClassesInordertocollectinformationregardingdebtserviceexpenditureandtax,weintroducetheclassesCreditorandTaxPayer,whichappearintheformofeitherindividualsororganizations.FollowingarethecompetencyquestionsrelatedtoPersonandOrganization:

1. (F)ForeachdebttypeX:Whoisthecreditor2. (F)Aretheindividualtaxpayersresidentsofthecity?Arethelegalentitytaxpayersbasedinthe

city?3. (F)WhatistheageandemploymentstatusofindividualtaxpayerX?4. (F)WhatistheownershiptypeoflegalentitytaxpayerX?

16gcifistheprefixforGCIFinanceontology.


Figure7:PersonandOrganizationTaxonomy

ThePersonclassisimportedfromAssetDescriptionMetadataSchema17,asitisconsistentwithourdefinitionforpersonindividuals.ForeachPerson,ourontologyhasincludedpropertiessuchasbirthdate,residencyandemploymentstatus.TheOrganizationclassisinheritedfromtheTOVEOrganizationontology,togetherwithitsproperties,suchasname,legalnameandownership.Asexplainedearlierinthischapter,eachdebtitemhasoneormoreCreditor.Thefourthindicatorhasanumeratorandadenominatorastaxcollectedandtaxbilled,bothofwhichhavecorrespondingtaxpayers.CreditorandTaxPayercanbeindividualsororganizations.Class Property ValueRestrictionorg:Organization org:hasName onlyString

org:hasLegalName exactly1Stringorg:has_Ownership exactly1Ownership

sc:Person has_Birthdate exactly1xsd:dateTimehasEmploymentStatus exactly1EmploymentStatusresident_Of min1Citygci:has_Primary_Residence exactly1Addressowl:subClassOf GCIFinanceThing

sumo:Creditor owl:subClassOf GCIFinanceThingTaxPayer owl:subClassOf GCIFinanceThingTaxPayerOrganization based_In exactly1City

owl:subClassOf TaxPayerowl:subClassOf org:Organization

TaxPayerIndividual owl:subClassOf adms:Personowl:subClassOf TaxPayer

CreditorOrganization owl:subClassOf org:Organizationowl:subClassOf sumo:Creditor

17http://www.w3.org/ns/adms#


CreditorIndividual owl:subClassOf adms:Personowl:subClassOf sumo:Creditor

5.5. TaxClassesThefourthGCIFinanceindicator(ISO37120:9.4)regardstaxcollectedandtaxbilled.Therefore,allofitscompetencyquestionsarerelatedtotaxclasses:

1. (CI)Forwhattimeperiodisthetaxcollectedandtaxbilledmeasured?2. (F)Aretheindividualtaxpayersresidentsofthecity?Arethelegalentitytaxpayersbasedinthe

city?3. (F)WhatistheageandemploymentstatusofindividualtaxpayerX?4. (F)WhatistheownershiptypeoflegalentitytaxpayerX?5. (F)Whattypesoftaxesdotaxcollectedandtaxbilledcomprise?6. (D)WhatpercentageoftaxcollectedandtaxbilleddoestaxYcontributeto?7. (F)Whatarethethreshold,rateandimposingagentfortaxY?Whatisthepenaltyforfailureto

paytaxYontime?InourFinanceontology,sumo:TaxisasubclassofOwnSourceRevenue,andSumodefinestwosubclassesofTax–IncomeTaxandDutyTax.TheclassOtherTaxisdefinedtocapturedothertaxcategoriesnotbelongingtoincomeordutytypes.TheclassesTaxCollectedandTaxBilledaredefinedbecausetheyarethenominatoranddenominatorofthelastFinanceindicator,andtheyaredisjointwitheachother,becausetheyrepresenttaxatdifferentstages.Eachtaxitemhasataxpayerwhichcanbeeitheranindividualororganization,andalsoimposedbyanOrganizationAgent.

Figure8:TaxTaxonomy

Class Property ValueRestrictionsumo:Tax owl:subClassOf OwnSourceRevenue

has_Taxpayer someTaxPayerIndividualhas_Taxpayer someTaxPayerOrganizationimposed_By min1OrganizationAgent


tax_Rate min1Doubletax_Threshold exactly1Double

TaxBilled owl:subClassOf sumo:TaxdisjointWith TaxCollected

TaxCollected owl:subClassOf sumo:TaxdisjointWith TaxBilled

sumo:IncomeTax owl:subClassOf sumo:TaxdisjointWith sumo:DutyTax,OtherTax

sumo:DutyTax owl:subClassOf sumo:TaxdisjointWith sumo:IncomeTax,OtherTax

OtherTax owl:subClassOf sumo:TaxdisjointWith sumo:DutyTax,sumo:IncomeTax

Classesregardingtaxpayerhasbeenexplainedin5.4inthispaper.Accordingtothedefinitionoftax18,eachtaxitemhasitstaxpayer,threshold,taxrateandimposingagent.TaxbilledandtaxcollectedarebothsubclassesofTax.

5.6. MonetaryMeasurementClassesThefollowingcompetencyquestion:

1. (F)Whatcurrencyandexchangeratioareusedinreportingdebtserviceexpenditureandown-sourcerevenue?

introducesarepresentationalrequirementnotseeninotherthemes.TheFinanceindicatorsaredifferentinthatnoneoftheirmeasuresarerepresentedaspopulationsizes.Instead,theyexistascontinuousquantities.Additionally,allthenumeratorsanddenominatorsintheFinanceindicatorsmayincurdifferentcurrenciesandexchangerates,increasingthepotentialofinconsistencyinternally.Inordertomeasuretotalfinancialquantities,weneedaconcepttocapture‘monetaryvalue’,whichisdefinedinOpenCYC.Thisclasssubsumesconceptsrepresentingmonetaryvaluesfordebt,tax,expenseandrevenue.Eachofthemonetaryvaluesubtypescontainstotalquantitiesforfinancialactivities.Forexample,TaxMonetaryValuesubsumesTotalTaxCollectedandTotalTaxBilled,bothofwhichofcertaintypesoftaxmonetaryvalue.ThetaxonomyformonetaryvaluerepresentationisshowninFigure9.

18https://en.wikipedia.org/wiki/Tax.


Figure9:MonetaryValueTaxonomy

ThemonetaryconceptsrelatedtomeasureandunitareinferredfromOMOntology19.EachoftheindicatorsunderGCIFinanceisanom:Quantity,andhasaMonetaryRatioUnitwhichisanom:UnitOfMeasure.AnyMonetaryValuehasaMonetaryUnitthatisacurrency.EachGCIFinanceindicatorhasanumeratorandadenominator,bothofwhicharemonetaryvalues.

Figure10:MonetaryUnitTaxonomy

‘MonetaryUnit’hasalreadybeendefinedinGCIFoundationontology,andhereweimportthecorrespondingclassesintotheFinanceontology.PropertiesofMonetaryValue'originalCurrency''exchangeRatio'capturetheexchangerateofMonetaryValuetoadifferentcurrency.Whenreviewingexistingontologies,wefoundthatOpenCYCincludesanddefinessomeFinanceterms,suchas‘monetaryvalue’,‘expensefigure’and‘revenue’,whichareequivalenttoclasses

19TheOMontologycanbefoundathttp://www.wurvoc.org/vocabularies/om-1.6/.Wewillusetheprefix“om”whereneeded.

GCIFinanceThingcyc:'monetaryvalue'

DebtMonetaryValue TotalDebt

TaxMonetaryValueTotalTaxCollected

TotalTaxBilled

ExpenseMonetaryValue

TotalDebtExpenditure

TotalPublicExpenditure

RevenueMonetaryValue

TotalOwnSourceRevenue

TotalPublicRevenue


MonetaryValue,ExpenseMonetaryValueandRevenueMonetaryValueinourFinanceontology,respectively.Thepropertysum_Termdenotesallthetermswhosevaluesneedtobeaddedtocalculatethesum.Forexample,TotalDebthassum_Termof(LeaseFinancingandOtherDebtandTemporaryFinancing),meaningthatTotalDebtisthesumofthemonetaryvaluesofLeaseFinancing,TemporaryFinancingandOtherDebt.Thesetermsneedtobedisjointwitheachother.Class Property ValueRestrictioncyc:’monetaryvalue’ owl:subClassOf GCIFinanceThing

owl:subClassOf om:Quantitygci:unit_of_measure exactly1gci:‘MonetaryUnit’exchangeRatio exactly1DoubleoriginalCurrency exactly1gci:‘MonetaryUnit’

DebtMonetaryValue owl:subClassOf cyc:’monetaryvalue’amount_Of exactly1Debt

TotalDebt owl:subClassOf DebtMonetaryValuesum_Term only(LeaseFinancingandOtherDebtand

TemporaryFinancing)TaxMonetaryValue owl:subClassOf cyc:’monetaryvalue’

amount_Of exactly1TaxTotalTaxBilled owl:subClassOf TaxMonetaryValue

sum_Term only(sumo:IncomeTaxandsumo:DutyTaxandOtherTax)

TotalTaxCollected owl:subClassOf TaxMonetaryValuesum_Term only

(sumo:IncomeTaxandsumo:DutyTaxandOtherTax)

ExpenseMonetaryValue owl:equivalentTo cyc:’expensefigure’owl:subClassOf cyc:’monetaryvalue’

TotalPublicExpenditure owl:subClassOf ExpenseMonetaryValuesum_Term only

(CapitalSpendingandOperatingExpenditure)

TotalDebtExpenditure owl:subClassOf ExpenseMonetaryValuesum_Term only

(LeasePaymentsandOtherDebtChargesandTemporaryFinancingPayments)

RevenueMonetaryValue owl:equivalentTo cyc:revenueowl:subClassOf MonetaryValue

TotalPublicRevenue owl:subClassOf RevenueMonetaryValuesum_Term only

((OperatingRevenueandRecurringRevenue)or(OwnSourceRevenue


andTransferRevenue))TotalOwnSourceRevenue owl:subClassOf RevenueMonetaryValue

6. GCIFoundationOntologyInfrastructureTheGCIFoundationOntology(Fox,2013)definesthebasicstructureofaratioindicator,whichisthebasisofthefinanceindicatorsontologythatwe’regoingtodiscussinthenextsection.TheGCIFoundationOntologyusestheOMmeasurementontology(Rijgersbergetal.,2011)toprovidetheunderlyingsemanticsofanumber,suchaswhatisbeingmeasuredandtheunitofmeasurement.Thisensuresthecomparabilityofthenumbers,e.g.,themonetaryvalueofdebtserviceexpenditureandownsourcerevenue,whichcomprisethedebtserviceratio,areofthesameunitandusethesameconversionstandards.Figure11depictsthebasicclassesoftheOMontologyusedtorepresentanindicator.TherearethreemainclassesinOM:a‘Quantity’thatdenoteswhatisbeingmeasured,e.g.,diameterofaball;a‘UnitofMeasure’thatdenoteshowthequantityismeasured,e.g.,centimeters;anda‘Measure’thatdenotesthevalueofthemeasurementwhichislinkedtoboth‘Quantity’and‘UnitofMeasure’.Forexample,DebtServiceRatioisasubclassof‘Quantity’thathasavaluethatisasubclassof‘Measure’whoseunitsarea‘Monetaryratiounit’thatisasubclassof‘UnitofMeasure’.Theactualvaluemeasuredisapropertyofthe‘Measure’subclass‘DebtServiceRatioMeasure’.

om:Quantity

om:Unit_of_ measure

om:Measure

Global_city_ indicator

om:Unit_ division Finance_GCI

Debt_service_ratio_GCI

Debt_service_ ratio_ measure

Monetary_ ratio_unit

"an object property"

om:value

om:unit

om:unit_of_measure

owl:subClassOf


Figure11.MeasurementOntology

Thedebtserviceratioindicatorisbasedonameasureofthemonetaryvalueofdebtexpenditureandownsourcerevenue,whichsatisfytheindicators’definitionofeach,withinacity’sfinances.Bothcanbeviewedasastatisticalmeasurementinthesensethatthereisamonetaryvaluethatwewanttoperformameasurementof,themeasurementbeingameasureofthequantityoffinancialactivitysizethatsatisfyadescriptionofthedebtserviceexpenseandownsourcerevenue,respectively.Whiletheindicatorsrequireameasureoftransactionsofthefinancialactivities,othermeasuresmayrequirestatisticssuchasmean,standarddeviation,etc.Allofthefinanceindicatorsareratios.Aratioindicator(Figure12)hasaunitofmeasuredefinedtobea‘MonetaryRatioUnit’thatspecifiesthattheindicatoristheratioofthefinancialquantity(monetaryvalue).Onemonetaryvalueisthenumeratorandtheotherthedenominator.A‘monetaryvalue’hasaunitofmeasurewhichisa‘MonetaryUnit’.

Figure12.FoundationOntologyMonetaryRatiodefinition

7. ISO37120FinanceIndicatorsOntologyTheGCIFinanceontologyprovidestheclassesandpropertiesnecessarytorepresentthedefinitionsoftheISO37120Financethemeindicators.ThissectiondepictstherepresentationofthefourISO37120Financeindicators.TheOWLrepresentationofthefinanceindicatordefinitionscanbefoundathttp://ontology.eil.utoronto.ca/GCI/ISO37120/Finance.owl.

om:unit_of_measure om:unit_of_measure

GCI_ Quantity

gci: Monetary_ ratio_unit

Ratio Indicator Fiscal_Year

gci:City

cyc:'monetary value' cyc:'monetary value'

gci:Monetary_Unit gci:Monetary_Unit

owl:subClassOf "an object property"

:unit_of_measure gci:for_ FiscalYear

gci:numerator gci:denominator

gci:for_city


7.1. Debtserviceratio(debtserviceexpenditureasapercentageofamunicipality’sown-sourcerevenue)(coreindicator)(ISO37120:9.1)

ThefirstISO37120Financeindicatorisacoreindicator,andisdefinedastheratioofdebtserviceexpenditureasapercentofownsourcerevenue.ThefollowingdiagramdepictsthedefinitionofISO37120:9.1.Forthenumeratoranddenominator,themonetaryvalueisrepresentedastheamountofDebtExpenditureandOwnSourceRevenue,respectively.9.1_TotalDebtExpenditureisthedebtserviceexpenseforthisindicator,andistheexpensefor9.1_TotalDebt.GCIFinanceontologydefinesTotalDebtExpenditureasthesumofLeasePayments,TemporaryFinancingPaymentsandOtherDebtCharges.Ownsourcerevenueistotalrevenuelesstransfers,andtherefore9.1_TotalRevenueissumofonly9.1_TotalOwnSourceRevenueand9.1_TransferRevenue.Inordertoanswerthecompetencyquestionsrelatedtototalrevenueandtotalexpenditure,theISOFinanceontologyalsoincludes9.1_TotalRevenueand9.1_TotalExpenditureandtheirmonetaryvalue.Additionally,wedepictthefiscalyearandwhichcityitisreportedfor.

Figure13:ISO37120financeIndicato-9.1Definition

Intheabovediagramandthefollowingtables,iso37120:9.1isequivalenttoclass‘Debtserviceratio(debtserviceexpenditureasapercentageofamunicipality’sown-sourcerevenue)(coreindicator)’in

iso37120:9.1


gci:City

gci:for_city

FiscalYear

gci:for_FiscalYear

9.1_TotalDebtExpenditure

9.1_TotalDebt

expe

nse_

For

9.1_TotalOwnSourceRevenue

9.1_TotalDebt_MonetaryValue

amount_Of

9.1_Creditor has_Creditor

gcif:Expense MonetaryValue

gcif:Revenue

MonetaryValue

9.1_Lease Payments

9.1_Temporary FinancingPayments

9.1_Other DebtCharges

9.1_Total Revenue

Sum_Term

9.1_TransferRevenue Sum_Term

"anobjectproperty"

Owl:subClassOf


Finance.owl.ItdefinestheratioforthefirstFinanceindicatoraswellasitsnumeratoranddenominator,andisimportedfromGCIFoundationontology.Class Property ValueRestrictioniso37120:9.1 owl:subClassOf gci:‘FinanceIndicators’

gci:‘forcity’ exactly1gci:Cityfor_FiscalYear exactly1FiscalYeargci:numerator exactly19.1_TotalDebtExpendituregci:denominator exactly19.1_TotalOwnSourceRevenue

Debtserviceexpenditureisdefinedasthesumofleasepayments,temporaryfinancingpaymentandotherdebtcharges,whereasownsourcerevenueisthedifferencebetweentotalrevenueandtransfersrevenue.Althoughsubtypesofownsourcerevenuearespecifiedin9.3,theyarenotconsideredhereduetothedefinitionusedinthefirstindicator.ThewayISOFinanceOntologyrepresentstheserelationshipsisdemonstratedinthefollowingtable.Class Property ValueRestriction9.1_TotalDebtExpenditure owl:subClassOf gcif:TotalDebtExpenditure

gcif:for_FiscalYear exactly19.1_FiscalYeargcif:sum_Term only(9.1_LeasePaymentsand

9.1_OtherDebtChargesand9.1_TemporaryFinancingPayments)

expense_For only9.1_TotalDebt9.1_TotalOwnSourceRevenue owl:subClassOf gcif:TotalOwnSourceRevenue9.1_TotalRevenue owl:subClassOf gcif:TotalPublicRevenue

sum_Term only(9.1_TotalOwnSourceRevenueand9.1_TransferRevenue)

Additionalaxiomsareneededtocompletetheabovedefinitions:

1. Debttypes'LeaseFinancing''TemporaryFinancing'and'OtherDebt'allhavesome'Creditor'.2. 'LeasePayments'istheexpensefor'LeaseFinancing','TemporaryFinancingPayments'isthe

expensefor'TemporaryFinancing',and'OtherDebtCharges'istheexpensefor'OtherDebt'.3. 'TotalDebt'isthesumofterms'LeaseFinancing','TemporaryFinancing'and'OtherDebt'.4. 'TotalOwnSourceRevenue'isatermofthesumquantity'TotalPublicRevenue'.

7.2. Capitalspendingasapercentageoftotalexpenditures(supportingindicator)(ISO37120:9.2)

ThesecondISO37120Financeindicatorisasupportingindicator,andisdefinedasthecapitalspendingasapercentageoftotalexpenditures.SincecapitalspendingisdefinedinISO37120asthetotalexpenditureonfixedassets,weneedtoincludeclassesrepresentingfixedassetsinourontology,includingspecifictypesoffixedassetsaslistedinISO37120:9.2.


Inthefollowingdiagram,tablesandcontents,weuse“iso37120:9.2”torepresenttheclass“Capitalspendingasapercentageoftotalexpenditures(supportingindicator)”.

Figure14:ISO37120-9.2Definition

SimilartoISO37120:9.1,indicator9.2definestheratiobetweentwomonetaryvalues–capitalspendingandtotalexpenditure.Theclass'iso37120:9.2'hasbeendirectlyimportedfromGCIFoundationontology,andISOFinanceontologydefinesitspropertiesincluding'forcity',for_FiscalYear,numeratoranddenominator.Class Property ValueRestrictioniso37120:9.2 owl:subClassOf gci:‘FinanceIndicators’

gci:‘forcity’ exactly1gci:Cityfor_FiscalYear exactly1FiscalYeargci:numerator exactly19.2_CapitalSpendinggci:denominator exactly19.2_TotalExpenditure

ISO37120:9.2indicatesthattotalexpenditurecomprisescapitalspendingandoperatingexpenditure,andthatcapitalspendingistheexpenditureonfixedassets,whichcanbebuilding,equipment,fixture,furniture,land,leaseholdimprovementorotherfixedasset.

iso37120:9.2


gci:City gci:for_city

FiscalYear gci:for_FiscalYear

9.2_CapitalSpending

9.2_FixedAsset_Buliding

gci:expense_For

9.2_TotalExpenditure

9.2_OperatingExpenditure

sum_Term

9.2_FixedAsset_Equipment

9.2_FixedAsset_Fixture

9.2_FixedAsset_Furniture

9.2_FixedAsset_Land

9.2_FixedAsset_LeaseholdImprovement

9.2_FixedAsset_Other

"anobjectproperty"

Owl:subClassOf


Class Property ValueRestriction9.2_CapitalSpending_MonetaryValue owl:subClassOf gcif:ExpenseMonetaryValue

gcif:amount_Of exactly19.2_CapitalSpending9.2_CapitalSpending owl:subClassOf gcif:CapitalSpending

gcif:expense_For only(9.2_FixedAsset_Buildingor9.2_FixedAsset_Equipmentor9.2_FixedAsset_Fixtureor9.2_FixedAsset_Furnitureor9.2_FixedAsset_Landor9.2_FixedAsset_LeaseholdImprovementor9.2_FixedAsset_OtherFixedAsset

9.2_TotalExpenditure owl:subClassOf gcif:TotalExpendituregcif:sum_Term only(9.2_CapitalSpendingand

9.2_OperatingExpenditure)

7.3. Own-sourcerevenueasapercentageoftotalrevenues(supportingindicator)(ISO37120:9.3)

ThethirdISO37120Financeindicatorisasupportingindicator,andisrelatedtoonlypublicrevenues.Itisdefinedastheratiobetweenown-sourcerevenueandtotalrevenues.InthefirstFinanceindicator,wehavealreadydefinedandexpandedonown-sourcerevenue.HereISO37120:9.3providesanotherdefinitionofown-sourcerevenue:thetotalamountoffundsobtainedthroughpermitfees,userchargesforcityservices,andtaxescollectedforcitypurposesonly.Thisdefinitionisdifferentfromtheonein9.1,andherewedon'tneedtotalrevenuetocalculateownsourcerevenue.9.3indicatesthattotalrevenueincludesoperatingrevenueandre-occurringrevenue,whichiscapturedintheISO37120Financeontology.Wewilluseiso37120:9.3torepresentthemainclass‘Own-sourcerevenueasapercentageoftotalrevenues(supportingindicator)’inthefollowing.



Likepreviousindicators,ISO37120:9.3alsocapturesthecityandfiscalyearthattheindicatorisfor.'iso37120:9.3'hasbeenimportedfromunder‘FinanceIndicators’classinGCIFoundationontology.Class Property ValueRestrictioniso37120:9.3 owl:subClassOf gci:‘FinanceIndicators’

gci:‘forcity’ exactly1gci:Cityfor_FiscalYear exactly1FiscalYeargci:numerator exactly19.3_TotalOwnSourceRevenuegci:denominator exactly19.3_TotalRevenue

Asexplainedabove,totalownsourcerevenueisthesumoffees,chargesandtax,andtotalpublicrevenueisthesumofoperatingrevenueandre-occurringrevenue.Class Property ValueRestriction9.3_TotalOwnSourceRevenue owl:subClassOf gcif:TotalOwnSourceRevenue

gcif:sum_Term only(9.3_Chargesand9.3_Feesand9.3_Tax)

9.3_TotalRevenue owl:subClassOf gcif:TotalRevenuegcif:sum_Term only(9.3_OperatingRevenueand

9.3_Recurring_Revenue)

"anobjectproperty"

Owl:subClassOf iso37120:9.3




9.3_TotalOwnSourceRevenue 9.3_TotalRevenue

9.3_Charges

sum_Term

9.3_Fees 9.3_Tax

9.3_OperatingRevenue 9.3_RecurringRevenue

sum_Term


7.4. Taxcollectedasapercentageoftaxbilled(supportingindicator)(ISO37120:9.4)Thefourthindicatorisalsoasupportingindicator.Itfocusesontax,whichisaformofpublicrevenue.Itisdefinedastheratiooftheactualtaxcollectedtothemandatedtax(taxbilled).Thisindicatorisdistinctfromthepreviousthreeindicators,becauseinordertoanswersomeofitscompetencyquestionsweneedtoconsidernotonlythefinancialactivitiesandmonetaryvalues,butalsoindividualtaxpayers,eitherpersonororganization.Eachtaxitem,collectedorbilled,isimposedbyoneormoreorganizations/agents.Italsohasatleastoneofindividualtaxpayersororganizationtaxpayers.Thesepropertiesareshowninthefollowingdiagram.ForeachTaxpayerIndividual,wehavedefinedproperty“resident_Of”inordertocapturewhetherthetaxpayersresideinthecitythattheindicatorisfor.Thisclassalsoinheritspropertiessuchasbirthdateandemploymentstatus,whichareusedtoanswercompetencyquestionsthatconcerntheindividuals'backgroundinformation.9.4_TaxpayerOrganizationisasubclassof“gcif:TaxpayerOrganization”,andwedefineitsownershipas“9.4_Ownership”,apropertyinheritedfromgci:Organization.


"anobjectproperty"

Owl:subClassOf iso37120:9.4

9.4_TotalTaxBilled 9.4_TotalTaxCollected




amount_Of

9.4_TaxCollected

amount_Of

9.4_TaxBilled

gci:OrganizationAgent

Imposed_By

Imposed_By

9.4_Taxpayer Individual

9.4_TaxpayerOrganization

has_Taxpayer has_Taxpayer

has_Taxpayer has_Taxpayer

Resident_Of

gci:City

has_Ownership

9.4_Ownership


Thistableshowshowiso37120:9.4definesthemainclasswhichcapturestheratiooftheindicator.Class Property ValueRestrictioniso37120:9.4 owl:subClassOf gci:‘FinanceIndicators’

gci:‘forcity’ exactly1gci:Cityfor_FiscalYear exactly1FiscalYeargci:numerator exactly19.4_TotalTaxCollectedgci:denominator exactly19.4_TotalTaxBilled

Asexplainedabove,taxcollectedandtaxbilledneedpropertiestocapturetheirimposingagentandtaxpayerinformation.Becauseeachtaxcanbeenforcedby1ormoreorganizationagents,9.4_TaxBilledand9.4_TaxCollectedhaveproperty“imposed_Bymin1OrganizationAgent”.Class Property ValueRestriction9.4_TotalTaxCollected owl:subClassOf gcif:TotalTaxCollected

gcif:sum_Term only(9.4_CapitationTaxCollectedand9.4_ConsumptionTaxCollectedand9.4_EffectiveTaxCollectedand9.4_FeesTollsTaxCollectedand9.4_IncomeTaxCollectedand9.4_OtherTaxCollectedand9.4_PayrollTaxCollectedand9.4_PropertyTaxCollectedand9.4_TariffTaxCollected)

owl:subClassOfowl:subClassOf

gcif:TotalTaxBilled9.4_Things

9.4_TotalTaxBilled gcif:sum_Termowl:subClassOf

only(9.4_CapitationTaxBilledand9.4_ConsumptionTaxBilledand9.4_EffectiveTaxBilledand9.4_FeesTollsTaxBilledand9.4_IncomeTaxBilledand9.4_OtherTaxBilledand9.4_PayrollTaxBilledand9.4_PropertyTaxBilledand9.4_TariffTaxBilled)gcif:TotalTaxBilled

AllthesubtypesofTaxBilledandTaxCollectedhavethefollowingproperties:Class Property ValueRestriction9.4_IncomeTaxBilled imposed_By some9.4_OrganizationAgent

gcif:has_Taxpayer only(9.4_TaxpayerIndividualor9.4_TaxpayerOrganization)

Inordertocompletetheabovedefinitions,weneedadditionalaxiomsregardingtaxpayerandownership:

1. Each'TaxpayerIndividual'isa'resident_Of'a'City'.2. Each'TaxPayerOrganizationhasan'Ownership'.


Class Property ValueRestriction9.4_Taxpayer owl:subClassOf gcif:TaxPayer9.4_TaxpayerIndividual owl:subClassOf 9.4_Taxpayer

owl:subClassOf gcif:TaxPayerIndividualresident_Of gci:City

9.4_TaxpayerOrganization owl:subClassOf 9.4_Taxpayerowl:subClassOf gcif:TaxPayerOrganizationhas_Ownership 9.4_Ownership

9.4_Ownership owl:subClassOf gci:Ownership

8. EvaluationInthissectionweverifytheFinanceontologybydemonstratingthatitcananswerthecompetencyquestions.WeusetheCityofTorontointheProvinceofOntario,Canadatoanswerthecompetencyquestions.InthefollowingwedefinetheexamplefromtheCityofToronto,usingourontology,thatwillusedtoanswerthecompetencyquestions.Instance Property Valuegn:6251999 rdfs:label Canada

rdfs:type gn:Featurerdfs:type sc:Country

gn:6093943 rdfs:label “Ontario”rdfs:type gn:Featurerdfs:type sc:Province

gn:6167865 rdfs:label “Toronto”rdfs:type gn:Featurerdfs:type sc:City

alan_inc rdfs:type gcif:CreditorOrganizationgci:hasLegalName “AlanIncorporated”gci:has_Ownership “AlanGroup”

Instancesthatinstantiatethe6.1indicatoraredefinedinthefollowingtable:Instance Property Value9.1_ex(instanceof9.1)

rdfs:type iso:9.1gci:numerator 9.1_DE_totalgci:denominator 9.1_OSR_totalgcif:for_FiscalYear 9.1_FiscalYeargci:for_City gn:6167865


om:phenomenon gn:6167865om:value 9.1_ex_value

9.1_ex_value(thevalueof9.1)

rdfs:type om:Measureom:numerical_value 0.018om:Unit gci:Monetary_Ratio_Unit(changetoinstance)

9.1_DE_total(numeratorof9.1)

rdfs:type isof:9.1_TotalDebtExpendituregcif:sum_Term 9.1_LPgcif:sum_Term 9.1_ODCgcif:sum_Term 9.1_TFPom:value 9.1_DE_total_value

9.1_DE_total_value(valueofthenumeratorof9.1)

rdfs:type om:Measureom:numerical_value 153,838,048gcif:originalCurrency gci:Monetary_Unit(changetoinstance)gcif:exchangeRatio Double(changetoinstance)om:unit gci:Monetary_Unit(changetoinstance)

9.1_OSR_total(denominatorof9.1)

rdfs:type isof:9.1_TotalOwnSourceRvenueom:value 9.1_OSR_total_value

9.1_OSR_total_value(valueofthedenominatorof9.1)

rdfs:type om:Measureom:numerical_value 8,546,558,272gcif:originalCurrency gci:Monetary_Unit(changetoinstance)gcif:exchangeRatio Double(changetoinstance)om:unit gci:Monetary_Unit(changetoinstance)

9.1_DE_total(Numeratormonetarysum)

rdfs:type isof:9.1_DebtExpenditure_MonetaryValuegcif:sum_Term 9.1_LPgcif:sum_Term 9.1_ODCgcif:sum_Term 9.1_TFP

9.1_LP rdfs:type isof:9.1_LeasePaymentsgcif:expense_For 9.1_LF

9.1_LF rdfs:type isof:9.1_LeaseFinancing9.1_ODC rdfs:type isof:9.1_OtherDebtCharges

gcif:expense_For 9.1_OtherDebt9.1_OD rdfs:type isof:9.1_OtherDebt9.1_TFP rdfs:type isof:9.1_TemporaryFinancingPayments

gcif:expense_For 9.1_TF9.1_TF rdfs:type isof:9.1_TemporaryFinancing9.1_exp_total rdfs:type isof:9.1_TotalExpenditure

gcif:for_FiscalYear 9.1_FiscalYeargci:for_City gn:6167865om:value 9.1_totalexp_value

9.1_totalexp_value rdfs:type om:Measureom:numerical_value 10,650,071,000om:unit gci:Monetary_Unit(changetoinstance)


9.1_TR_amt rdfs:type isof:9.1_TransferRevenue_MonetaryValuegcif:amount_Of 9.1_TRom:phenomenon 9.1_TRom:value 9.1_TR_value

9.1_TR_value rdfs:type om:Measureom:numerical_value 3,174,610,000om:unit CAD

9.1_TR rdfs:type isof:9.1_TransferRevenuegcif:for_FiscalYear 9.1_FiscalYeargci:for_City gn:6167865gcif:revenueSource String(Changetoinstance)

9.1_rev_total rdfs:type isof:9.1_TotalRevenuegcif:sum_Term 9.1_OSR_totalgcif:sum_Term 9.1_TRom:value 9.1_totalrev_value

9.1_totalrev_value rdfs:type om:Measureom:numerical_value 11,345,858,000om:unit gci:Monetary_Unit(changetoinstance)

9.1_totaldebt rdfs:type isof:9.1_TotalDebtgcif:sum_Term isof:9.1_LFgcif:sum_Term isof:9.1_TFgcif:sum_Term isof:9.1_ODom:value 9.1_totaldebt_value

9.1_totaldebt_value rdfs:type om:Measureom:numerical_value 3,418,623,309om:unit CAD

bond_payment refs:type isof:9.1_DebtExpendituregcif:expense_For 10yr_gov_bond

bond_payment_amt refs:type isof:9.1_DebtExpenditure_MonetaryValuegcif:amount_Of bond_paymentom:value bond_payment_value

bond_payment_value rdfs:type om:Measureom:numerical_value 250om:unit CAD

10yr_gov_bond rdfs:type isof:9.1_TemporaryFinancingorg:memberOf 9.1_TFgcif:paymentTerms Principaldueonmaturitydate;interestduefirstmonth

ofeachyeargcif:due_Date "2022/10/10"gcif:interestRate "0.025"gcif:has_Creditor alan_inc

10yr_bond_amt rdfs:type gcif:'monetaryvalue'


gcif:amount_Of 10yr_gov_bondom:value 10yr_bond_value

10yr_bond_value rdfs:type om:Measureom:numerical_value 12,500om:unit CAD

9.1_FiscalYear gcif:starting_Year 2012gcif:starting_Month Januarygcif:ending_Year 2012gcif:ending_Month December

ThefollowingillustrateshowthecompetencyquestionsforISO37120:9.1areimplementedinSPARQL.

1. (F)Whatcityistheindicatorfor?SELECT?citynameWHERE

{9.1_exgci:for_City?city?cityrdfs:label?cityname}

Answer:“Toronto”

2. (CI)Forwhattimeperiodisthedebtserviceexpenditureofamunicipalitymeasured?Forwhattimeperiodisamunicipality’sown-sourcerevenuemeasured?SELECT?startyear1?startmonth1?endyear1?endmonth1WHERE {9.1_TDEgcif:for_FiscalYear?fyear1. ?fyear1gcif:starting_Year?startyear1. ?fyear1gcif:starting_Month?startmonth1. ?fyear1gcif:ending_Year?endyear1. ?fyear1gcif:ening_Month?endmonth1}Answer:2011 January 2011 DecemberSELECT?startyear2?startmonth2?endyear2?endmonth2WHERE {9.1_TOSRgcif:for_FiscalYear?fyear2. ?fyear2gcif:starting_Year?startyear2. ?fyear2gcif:starting_Month?startmonth2. ?fyear2gcif:ending_Year?endyear2. ?fyear2gcif:ening_Month?endmonth2}Answer:2011 January 2011 December

3. (F)Whatarethemunicipality’stotalexpenditureanddebtforthefiscalyear?


SELECT?expvalueWHERE{9.1_exgci:for_City?city.9.1_exgcif:for_FiscalYear?fyear.?expamtom:value?expvalue.?expamtgcif:amount_Of?totalexp.?totalexpgci:for_City?city.?totalexpgcif:for_FiscalYear?fyear.?totalexprdfs:typeisof:9.1_TotalExpenditure}

Answer:10650071000

SELECT?debtvalueWHERE{9.1_exgci:for_City?city.9.1_exgcif:for_FiscalYear?fyear.?debtamtom:value?debtvalue.?debtamtgcif:amount_Of?debt.?debtgcif:sum_term9.1_LF.?debtgcif:sum_term9.1_TF.?debtgcif:sum_term9.1_OD.?debtgci:for_City?city.?debtgcif:for_FiscalYear?fyear}

Answer:4411296000

4. (D)Whatpercentageofthetotaldebtisrepaid?SELECT(?debtexpvalue/?debtvalue)AS?percentageWHERE

{9.1_exgci:for_City?city.9.1_exgcif:for_FiscalYear?fyear.9.1_exgci:numerator?debtexpvamt.?debtexpamtom:value?debtexpvalue.?debtamtom:value?debtvalue.?debtamtgcif:amount_Of?debtagg.?debtagggcif:defined_by?debt.?debtgci:for_City?city.?debtgcif:for_FiscalYear?fyear.?debtrdfs:typeisof:9.1_TotalDebt}

Answer:0.35

5. (F)Whattypesofdebtarepaidforbyamunicipality’sdebtexpenditure?SELECT?debtWHERE

{9.1_exgci:numerator?debtexpamt.


?debtexpamtgcif:amount_Of?debtexp.?debtexpgcif:defined_by?debtexp.?debtexpgcif:sum_term?determ.?determgcif:expense_For?debt}

Answer:9.1_LF 9.1_OD 9.1_TF

6. (D)ForeachdebtexpendituretypeX,whatpercentagedoesitcontributetothetotaldebtexpenditure?SELECT(?bondpayvalue/?debtexp)as?debtcontributionWHERE

{?bondpayamtom:value?bondpayvalue.?bondpayamtgcif:amount_Of?bondpay.?bondpaygcif:expense_For10yr_gov_bond.?debtamtom:value?debtvalue.?debtamtgcif:amount_Of?debt.?debtgcif:sum_term9.1_LF.?debtgcif:sum_term9.1_TF.?debtgcif:sum_term9.1_OD}

Answer:0.00008

7. (F)ForeachdebttypeX:Whoisthecreditor?Whatistheinterestrate?Whatisthepaymentperiodandwhatarethepaymentterms?SELECT?creditor?interest?due?termsWHERE

{10yr_gov_bondgcif:has_Creditor?creditor.10yr_gov_bondgcif:interestRate?interest.10yr_gov_bondgcif:paymentTerms?terms}

Answer:alan_inc “0.025” “2022/10/10”“Principaldueonmaturitydate;interestduefirstmonthofeachyear”

8. (D)WhatpercentageofeachdebttypeXisrepaid?SELECT(?bondpayvalue/?bondvalue)as?repaypercWHERE

(?bondpayamtom:value?bondpayvalue.?bondpayamtgcif:amount_Of?bondpay.?bondpaygcif:expense_For10yr_gov_bond.?bondamtgcif:amount_Of10yr_gov_bond.?bondamtom:value?bondvalue}

Answer:0.02


9. (F)Whatisthetotalrevenueforthefiscalperiod?SELECT?revvalueWHERE

{9.1_exgci:for_City?city.9.1_exgcif:for_FiscalYear?fyear.?revamtom:value?revvalue.?revamtgcif:amount_Of?totalrev.?totalrevgci:for_City?city.?totalrevgcif:for_FiscalYear?fyear.?totalrevrdfs:typeisof:9.1_TotalRevenue}

Answer:11345858000

10. (F)Whatisthetotaltransfersrevenueforthefiscalperiod?

SELECT?tranvalueWHERE{?tranamtom:value?tranvalue.?tranamtgcif:amount_Of9.1_TR}

Answer:2799300000

11. (F)Whatisamunicipality’sown-sourcerevenue?SELECT(?revvalue-?tranvalue)as?osrvalueWHERE

{?revamtom:value?revvalue.?revamtgcif:amount_Of9.1_totalrev.?tranamtom:value?tranvalue.?tranamtgcif:amount_Of9.1_TR}

Answer:8546558000

12. (D)ForeachrevenuetypeY,whatpercentagedoesitcontributetothetotalown-sourcerevenue?SELECT(?revxvalue/?revvalue)as?revxcontributionWHERE

{?revxamtom:value?revxvalue.?revxamtgcif:amount_Of?revx.?revxorg:memberOf?revclass.9.1_totalrevgcif:sum_Term?revclass.?revamtgcif:amout_Of9.1_totalrev.?revamtom:value?revvalue}

Answer:0.753


13. (F)Fromwhichsourcesdotransferrevenuesoriginate?SELECT?revsourceWHERE

{9.1_exgci:for_City?city.9.1_exgcif:for_FiscalYear?fyear.?tranrevgci:for_City?city.?tranrevgcif:for_FiscalYear?fyear.?tranrevrdfs:typeisof:9.1_TransferRevenue.?tranrevgcif:revenueSource?revsource}

Answer:“Internaltransfers”

14. (F)Whatcurrencyandexchangeratioareusedinreportingdebtserviceexpenditureandown-sourcerevenue?SELECT?decurr?deexch?osrcurr?osrexchWHERE

{9.1_exgci:numerator?deamt.?deamtom:value?devalue.?devaluegcif:originalCurrency?decurr.?devaluegcif:exchangeRatio?deexch.9.1_exgci:denominator?osramt.?osramtom:value?osrvalue.?osrvaluegcif:originalCurrency?osrcurr.?osrvaluegcif:exchangeRatio?osrexch}

Answer:“CAD” “1” “CAD” “1”

9. ConclusionsThegoalofthisresearchwastodefineanontologyfortherepresentationofISO37120Financethemeindicatordefinitionsandthedatausetoderiveacity’sspecificindicatorvalue.Inordertoconstructthisontology,wehadtodefineageneric(akacommonsense)ontologyforFinanceknowledge.TheISOdefinitionsrelyonthiscommonsensefinanceknowledgeinconstructingtheirdefinitions.Forexample,informationthatisn'tdirectlyincludedintheindicators,suchascreditor,assetandtaxpayer,iscapturedintheFinanceontology.Inconstructingthegenericfinanceontology,wefoundalackoffinanceontologiesthatcoveruniversallyusedfinancialentitiesandrelationships.Insummary,thisresearchhasmadethefollowingcontributions:

1) Definesafinanceontologythatcoversabroaderrangeoffinancialconceptsrelatedtopublicfinanceandmayalsobeapplicabletosomedomainswithcorporatefinance,aswellasmorein-depthdefinitionsandpropertiesfortheseclasses;

2) Usestheaboveconceptstosupportandexpandthedefinitionsforindicatorsin"ISO37120:9.Finance";


3) DefineseachoftheISO37120:9FinanceindicatorsusingthefoundationandGCIFinanceontology,providingaformalizedcomputationallyprecisedefinition;and

4) Providesastandardrepresentationforgeneralfinanceknowledgerelatedtoindicators,cityspecificversionsoffinanceknowledgeandthedatausedtoderiveanindicator’svalue.

10. AcknowledgementsThisresearchissponsoredbytheNaturalScienceandEngineeringResearchCouncilofCanada.

11. ReferencesCityofToronto,(2012),“2011StatisticalInformation”,CityofTorontoFinancialReport,http://www1.toronto.ca/city_of_toronto/accounting_services/financial_reports/files/pdf/2011fr_si.pdf.CityofToronto,(2012),“2011Treasurer’sReport”,CityofTorontoFinancialReport,http://www1.toronto.ca/City%20Of%20Toronto/Accounting%20Services/Financial%20Reports/Files/pdf/2/2011fr_treasurersreport.pdf.CityofToronto,(2012),“2011ConsolidatedFinancialStatements”,CityofTorontoFinancialReport,http://www1.toronto.ca/city_of_toronto/accounting_services/financial_reports/files/pdf/2011fr_cfs.pdf.Forde,A.,andFox,M.S.,(2015),"AnInnovationOntologyforGlobalCityIndicators(ISO37120)",WorkingPaper,EnterpriseIntegrationLaboratory,UniversityofToronto,http://eil.mie.utoronto.ca/wp-content/uploads/2015/06/GCI-Innovation-Ontology-v15.pdf.Fox,M.S.,(2013),“AFoundationOntologyforGlobalCityIndicators”,WorkingPaper,EnterpriseIntegrationLab,UniversityofToronto,http://eil.utoronto.ca/wp-content/uploads/smartcities/papers/GCI-Foundation-Ontology.pdf.Fox,M.S.,(2014),“AnEducationOntologyforGlobalCityIndicators(ISO37120)”,WorkingPaper,EnterpriseIntegrationLab,UniversityofToronto,http://eil.utoronto.ca/wp-content/uploads/smartcities/papers/GCI-Education.pdf.Fox,M.S.,(2015),“PolisGnosisProject:OntologiesforCityIndicators”,MechanicalandIndustrialEngineeringDepartment,UniversityOfToronto,http://www.eil.utoronto.ca/wp-content/uploads/smartcities/papers/PolisGnosis-11mar2015.pdf.Fox,M.S.,andGrüninger,M.,(1998),"EnterpriseModelling",AI&Magazine,AAAIPress,Fall1998,pp.109-121.Fox,M.S.,andHuang,J.,(2005),“KnowledgeProvenanceinEnterpriseInformation”,International


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Ogunquit,Maine.NewYork:ACMPress.Pattuelli,M.C.,(2003),“TheGovStatOntology:TechnicalReport”.TheGovStatProject,IntegrationDesignLaboratory,SchoolofInformationandLibraryScience,UniversityofNorthCarolinaatChapelHill,http://ils.unc.edu/govstat/papers/govstatontology.doc.Plehn,C.C.,(1902),IntroductiontoPublicFinance.Retrievedfromhttp://www.isec.ac.in/Introduction_%20to_%20public_%20finance.pdf.Rijgersberg,H.,vanAssem,M.,Top,J.,(2012),“Ontologyofunitsofmeasureandrelatedconcepts”,SemanticWebJ.4,3e13.Rijgersberg,H.,Wigham,M.,andTop,J.L.,(2011),“HowSemanticscanImproveEngineeringProcesses:ACaseofUnitsofMeasureandQuantities”,AdvancedEngineeringInformatics,Vol.25,pp.276-287.StatisticsCanada,(2015),“OwnSourceRevenue”,http://www.statcan.gc.ca/pub/68f0023x/2006001/app-ann/app-ann3/01-eng.htm.StatisticsCanada,(2015),“Classificationofgovernmentrevenueandexpenditures”,http://www.statcan.gc.ca/pub/68f0023x/2006001/chap/chap6-eng.htm.TangibleProperty.(n.d.).InWikipedia.RetrievedJanuary14,2016,fromhttps://en.wikipedia.org/wiki/Tangible_property.TemporaryFinancing.(n.d.).InNasdaq.RetrievedFebruary1,2016,fromhttp://www.nasdaq.com/investing/glossary/t/temporary-financing.Uceda-Sosa,R.,Srivastava,B.,andSchloss,B.,(2012),“BuildingaHighlyConsumableSemanticModelforSmarterCities”,InProceedingsoftheworkshoponAIforanIntelligentPlanet,ACM.

12. AppendixTheGlobalCityIndicatorFoundationontologycanbefoundin:http://ontology.eil.utoronto.ca/GCI/Foundation/GCI-Founation.owl.TheGlobalCityIndicatorFinanceontologycanbefoundin:http://ontology.eil.utoronto.ca/GCI/Finance/GCI-Finance.owl.URIsforalloftheISO37120indicatorscanbefoundin:http://ontology.eil.utoronto.ca/ISO37120.owl.


DefinitionsoftheISO37120Financeindicators,usingtheGCIFoundationandFinanceontologiescanbefoundin:http://ontology.eil.utoronto.ca/GCI/ISO37120/Finance.owl.

a finance ontology for global city indicators (iso...

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