Page 327 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

GRANTS Contributions or gifts of cash or other assets from another government or organization to be used or
expended for a specific purpose, activity, or facility. Grants may be classified as either categorical or
block depending upon the amount of discretion allowed the grantee.

INTERFUND TRANSFERS Amounts transferred from one fund to another.

INVENTORY A detailed listing of property currently held by the government that shows quantities, descriptions, and
values of the property as well as units of measure and unit price.

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

LEVY To impose taxes, special assessments, or service charges for the support of City activities.

LINE-ITEM BUDGET A budget that lists each expenditure category (salary, supplies, travel, repairs, etc.) separately, along
with the dollar amount budgeted for each specific category.

LONG-TERM DEBT Debt with a maturity of more than one year after the date of issuance.

MODIFIED ACCRUAL A basis of accounting in which expenditures are accrued but revenues are accounted

ACCOUNTING for on a cash basis. This accounting technique is a combination of cash and accrual accounting since
expenditures are immediately incurred as a liability while revenues are not recorded until they are
actually received.

OBJECT CODE An expenditure category, such as salaries, supplies, travel, electricity, or communications equipment.
Object codes are grouped together to form character classifications.

OPERATING BUDGET The portion of the budget that pertains to daily operations that provide the basic governmental services.
The General Fund and the Debt Service Fund comprise the City's operating budget.

ORDINANCE A formal legislative enactment by the governing board of a municipality.

PERFORMANCE BUDGET A budget wherein expenditures are based primarily upon measurable performance of activities and
work programs.

PERFORMANCE Specific quantitative and qualitative measurements of work performed as an objective
MEASUREMENT of the activity, department, division, or fund.

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