Page 95 - Forest Hill FY20 Annual Budget

CITY OF FOREST HILL

Retained Earnings: The difference between assets and liabilities for enterprise and internal service funds.

Revenue: Increases in the net current assets of a governmental fund type from other than expenditure
refunds and residual equity transfers, and increases in net total assets of a proprietary fund type from other
than expense refunds, capital contributions and residual equity transfers. Included are such items as tax
payments, fees from specific services, receipts from other governments, fines, forfeitures, grants, shared
revenues, and interest income.

Revenue Bonds: Bonds usually sold for constructing a project that will produce revenue for the
government. All or part of the revenue is used to pay the principal and interest of the bond.

Rollover: Rollovers are the desired uses of fund balance for the purpose of meeting prior year
commitments. Rollovers may be requested for items that ,a) were budgeted in the prior fiscal year, b) are
from departments that did not spend to their appropriated budget the prior year (i.e. ,have savings), and c)
can demonstrate that the funds were encumbered for the purpose identified in the rollover request.

Source of Revenue: Revenues are classified according to their source or point of origin.

Unassigned Balance: The amount of an appropriation that is neither expended nor encumbered. It is the
amount of money still available for future purchases.

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