Page 253 - Colleyville FY19 Budget

DEBT SERVICE: The City's obligation to pay the principal and interest of all
bonds and other debt instruments according to a pre-determined payment
schedule.

DELINQUENT TAXES: Taxes remaining unpaid on or after the date on
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which a penalty for non-payment is attached. February 1 is the date the
unpaid taxed become delinquent in the City.

DEPARTMENT: A major administrative division of the City, which indicates
overall responsibility for an operation or a group of related operations within
a functional area.

DEPRECIATION: That portion of the cost of a capital asset that is charged
as an expense during a particular period. This is the process of estimating
and recording the expired useful life of a fixed asset that cannot or will not
be restored by repair and will be replaced.

EFFECTIVE TAX RATE: A rate, which generates the same amount of
revenues from property, which is taxed in both years.

ENCUMBRANCES: Obligations in the form of purchase orders and contracts
which are chargeable to an appropriation and for which a part of the
appropriation is reserved because the goods or services have not been
received. When paid, the encumbrance is liquidated.

EXEMPT/EXEMPTION: Amounts under state law that is deducted from the
appraised value of property for tax purposes. Tax rates are applied to the
non-exempt portion of the appraised value to calculate the annual tax levy.

ENTERPRISE FUND: A fund established to account for operations that are
financed and operated in a manner similar to private business enterprises--
where the intent of the governing body is that the costs of providing goods
or services to the general public on a continuing basis be financed or
recovered primarily through user charges.

EXPENDITURE: Decreases in (use of) financial resources other than
through interfund transfers. This term applies to all governmental type
funds.

EXPENSE: A use of financial resources denoted by its use in the enterprise
funds, which is accounted for on a basis consistent with the private business
accounting model (full accrual basis).

FTE: The acronym for Full Time Equivalent; used as a standard metric for
comparing the number of positions within an organization, as opposed to a

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