Page 454 - City of Bedford FY20 Approved Budget

Revenue Bonds: Bonds whose principal and interest are payable exclusively from earnings of an
enterprise fund, in addition to a pledge of revenues.

Special Revenue Fund: A fund whose revenue source(s) is restricted or committed to a specific
purpose other than capital projects or debt service. Usually has one or more revenue resources that is
not a transfer from another fund. For example, the Tourism Fund is a special revenue fund that is
primarily financed by hotel occupancy taxes. Revenue from this fund is used to finance the ongoing
operations of several tourism-related facilities and special events.

Tax Rate: A percentage applied to all taxable property to raise general fund revenue.

Taxes: Compulsory charges levied by a government for the purpose of financing services performed
for the common benefit.

Working Capital: The measurement of the operating liquidity of a proprietary fund by subtracting
the current liabilities from the current assets.

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