Page 362 - Honorable Mayor and Members of the City Council

BUDGET GLOSSARY

ORDINANCE A formal legislative enactment by the governing board of a municipality.

PERFORMANCE BUDGET A budget wherein expenditures are based primarily upon measurable performance
of activities and work programs.

PERFORMANCE Specific quantitative and qualitative measurements of work performed as an objective
MEASUREMENT of the activity, department, division, or fund.

PROGRAM BUDGET A budget that focuses upon the goals and objectives of an agency or jurisdiction
rather than upon its organizational budget units or object classes of expenditures.

PROPERTY TAX Property taxes are levied on both real and personal property according to the
property's valuation and the tax rate.

RECONCILIATION A detailed summary of the increases and decreases from one budget year to the next.

REQUISITION A written request from one department to the Purchasing Agent for specific goods or
services. This action precedes the authorization of a purchase order.

RESERVES An account used to indicate a portion of a fund balance is restricted for a specific
purpose and is therefore not available for general appropriations.

REVENUE Funds that the government receives as income. Revenue includes such items as: tax
payments, fees from specific services, receipts from other governments, fines,
forfeitures, and interest income.

REVENUE REFUNDING Bonds with principal and interest payable exclusively from a revenue source pledged
BONDS as the payment source before issuance. These types of bonds can be issued with or
without voter approval.

CITY OF BENBROOK 2018-19 ANNUAL BUDGET
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