Page 289 - FY2020Colleyville

INTERGOVERNMENTAL REVENUES: revenues from other governments in
the form of grants or shared revenues.

(I)NTEREST AND (S)INKING: This portion of the tax rate represents the
part associated with satisfying the City’s debt service obligations.

L

LEVY: To impose taxes for the support of City services.

LIABILITIES: Debt or other legal obligations resulting from past
transactions that need to be liquidated, renewed, or refunded at a future
date.

M

MAJOR FUND: A fund that comprises at least 10 percent of
revenues/expenditures of all funds.

MIXED BEVERAGE TAX: A tax at the rate of 10% imposed on the gross
receipts of a licensee from the sale, preparation, or serving of mixed
beverages.

MODIFIED ACCRUAL BASIS: Basis of accounting according to which
revenues are recognized in the accounting period in which they become
available and measurable and expenditures are recognized in the accounting
period in which the fund liability occurs, if measurable.

MOODY’S: An independent financial service agency that provides bond
ratings for entities, to illustrate their creditworthiness; one of the Big Three
credit rating agencies.

NON-DEPARTMENTAL: Includes debt service, operating transfers between
funds, and compensation adjustment.

NON-MAJOR FUND: A fund that comprises less than 10 percent of
revenues/expenditures of all funds.

N

NETCO: The Northeast Tarrant County radio consortium that includes the
cities of Bedford, Colleyville, Euless, Grapevine, Keller, and Southlake.

O

282