Page 184 - Haltom City FY19 Annual Budget

Drainage Fund: This fund was created during the FY2005 budget preparation process
in order to generate revenue needed to address flooding and drainage issues in Haltom
City. Projects have been undertaken and studies conducted on the Big Fossil Creek, the
required National Pollution Discharge Elimination System (NPDES), Haltom Pond and
Solona Drive.

Enterprise Fund: A proprietary fund in which the services provided are financed and
operated similarly to those of a private business. The rate schedules for these services
are established to insure that revenues are adequate to meet all necessary expenses.
Enterprise funds in Haltom City are established for water and sewer service and drainage
utility.

Expenditures: This term refers to the outflow of funds paid or to be paid for an asset
obtained or goods and services received.

Expenses: Charges incurred (whether paid immediately or unpaid) for operation,
maintenance, interest, and other charges.

Fiscal Year: The time period designated by the City signifying the beginning and ending
period for recording financial transactions. The City of Haltom City has specified October
1 to September 30 as its fiscal year.

Fund: A fully self-contained accounting entity used for measuring the operating activities
of a standalone operational unit of the City.

Fund Balance: The difference between assets and liabilities reported in a governmental
fund.

General Fund: The General Fund accounts for many of the financial resources of the
government. General Fund revenues include taxes, franchise fees, licenses and permits,
service charges, and other types of revenue. This fund usually includes most of the basic
operating services, such as fire and police protection, finance, administration, park and
recreation, libraries, streets, and building maintenance.

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 general revenues of the entity. These bonds are backed by the full faith and
credit of the issuing government.

Generally Accepted Accounting Principles (GAAP): Uniform minimum standards for
financial accounting and recording, encompassing the conventions, rules and procedures
that define accepted accounting principles.

Governmental Funds: Funds generally used to account for tax-supported activities.
There are five different types of governmental funds: the general fund, special revenue
funds, debt service funds, capital projects funds, and permanent funds.

Impact Fees: Fees charged to developers to cover, in whole or in part, the anticipated
cost of improvements that will be necessary as a result of the development (e.g. parks,
sidewalks).

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