Page 573 - Fort Worth City Budget 2019

Glossary and Acronyms

General Obligation Bonds: Bonds that finance a variety of public projects such as streets, buildings, and
improvements. The repayment of these bonds is usually made from the debt service portion of the city’s property
tax, and these bonds are backed by the full faith and credit of the issuing government. General obligation bonds
are issued with the belief that a municipality will be able to repay its debt obligation through taxation or revenue
from projects.

Goal: The result or achievement towards which an effort is directed and intended to accomplish.

Governmental Funds: Governmental Funds are used to account for activities traditionally associated with the
government and that are primarily funded from tax revenues. Examples of such activities include public safety
services, acquisition or construction of infrastructure and other capital assets, and the servicing of general long-
term debt.

Grant: A contribution by a government or other organization to support a particular function. Grants may be
classified as either categorical or block depending upon the amount of discretion allowed to the grantee.

Initiative: A department action or project with a timeline and measureable outcomes that pursues a department
objective. Initiatives are measured by milestones which are generally qualitative.

Interest and Sinking Fund Tax: Assets and their earnings earmarked for the retirement of bonds or other long-
term liabilities. A fund arising from particular taxes, imposts, or duties, which is appropriated toward the payment
of interest and principal on a public loan.

Intergovernmental Revenue: Revenue received from another governmental entity for a specified purpose.
Examples of these are funds from Tarrant County, the State of Texas, and recovery or reimbursement of indirect
costs from federal and state agencies.

Internal Service Fund: A fund used to account for the financing of goods or services provided by one department
to another department on a cost reimbursement basis. Examples of some of these funds are as follows: the Fleet
& Equipment Services Fund and the Risk Financing Fund.

Inventory: A detailed listing of property currently held by the government showing quantities, descriptions and
values of the property, units of measure, and unit prices.

Invoice: A bill requesting payment for goods or services by a vendor or other governmental unit.

Key Performance Indicator (KPI): A strategic level performance measure that demonstrates how well the city is
achieving Council goals and management plan core objectives.

Key Performance Measure (KPM): A performance measure that demonstrates how effective a department is at
achieving management plan core objectives. These may also be identified as key performance indicators by city
management.

Levy: To impose taxes, special assessments, or service charges for the support of city activities. Also, the amount
of tax for an individual property or the sum of all individual amounts of tax.

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