Page 325 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

CHARACTER A basis for distinguishing types of expenditures; the major classifications used by the

CLASSIFICATION City are: Personal Services, Supplies and Materials, Contractual Services, Repair and Maintenance,
Capital Outlay, and Debt Service.

COMBINED SUMMARY A summary of two or more funds presented on a single page that includes a total of
STATEMENT the funds presented.

CURRENT TAXES Taxes that are levied and due within one year.

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.

DEBT SERVICE FUND A fund established to account for the accumulation of resources for and the payment of long-term debt
principal and interest.

DEBT SERVICE FUND The amount of revenues which must be provided for a Debt Service Fund so that all

REQUIREMENTS principal and interest payments can be made in full and on time.

DEFICIT The excess of expenditures over revenues during an accounting period.

DELINQUENT TAXES Taxes that remain unpaid on or after the date on which penalty for non-payment is attached.

DEPARTMENT A major administrative organizational unit of the City which indicates overall management responsibility
for one or more activities.

DISBURSEMENT Payment for goods and services in cash or by check.

DIVISION A major administrative organizational unit of the City which indicates overall management responsibility
for one or more departments. The City has five divisions: General Government, Staff Services, Public
Safety, Public Services, and Community Development.

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