Page 578 - Fort Worth City Budget 2019
P. 578
Glossary and Acronyms
federal and state awards, and notes to the schedule of expenditures of federal and state awards. 4. Schedule of
findings and questioned costs. 5. Corrective action plan. 6. Status of prior audit findings.
Source of Revenue: Revenues are classified according to their source or point of origin.
Special Revenue Fund: Governmental fund type used to account for the proceeds of specific revenue sources that
are restricted or committed to expenditures for specified purpose other than debt service or capital projects and
exclusive of resources held in trust for individuals, private organizations, or other governments.
Supplemental Appropriation: A legal procedure utilized during the fiscal year by the city staff and City Council to
revise a budget appropriation. The City of Fort Worth's City Charter requires City Council approval through the
adoption of a supplemental appropriation ordinance (which specifies both the source of revenue and the
appropriate expenditure account) for any interdepartmental or interfund adjustments. City staff has the
prerogative to adjust expenditures within a departmental budget.
Target: A quantifiable, desired result to be achieved within a stated time, against which actual results can be
compared. Targets may be based on regulatory or industry standards, policy decisions, historical data, or
benchmark data.
Tax Levy: The total property taxes imposed in a year.
Tax Rate: The number when multiplied by taxable value gives the amount of tax.
Taxable Value: The appraised value shown on the appraisal roll minus any applicable exemptions.
Taxing Unit: A local government that levies a property tax.
Total Exemption: An exemption that exempts all of a property’s value form taxation.
Total Taxable Value: The sum of the taxable values of all properties on the appraisal roll for a taxing unit.
Transfers: Amounts transferred from one fund to another.
Trust Funds: A fund held by a trustee for the specific purposes of the trust; in a more general sense, a fund which,
legally or equitably, is subject to be devoted to a particular purpose and cannot, or should not, be diverted
therefrom.
Unencumbered Balance: The amount of an appropriation that is neither expended nor encumbered. It is the
amount of money still available for future purchases.
Use of Fund Balance: Refers to an allocation of money in a Governmental Fund that the city previously received
from some source and did not expend. This category differs from all other listed categories because the amounts
in question are the result of past receipts rather than projected income during the fiscal year.
Use of Money and Property: Refers to money generated from the sale, loan, or rental of the city’s tangible and
intangible assets and includes interest earned on invested cash, short- and long-term rental income,
concessionaire payments, and proceeds from the sale of surplus or abandoned property.
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