Page 172 - Haltom City FY20 Approved Budget
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City of Haltom City Annual Budget, FY 2020
Supplemental Information
Capital Expenditure: Acquisition of property, facilities or equipment with an initial acquisition cost
of $5,000 and a useful life greater than two years (see also capital outlay).
Capital Improvement Plan: A multi-year plan for capital expenditures to be accomplished over
a five-year period. It contains the list, purpose and financing of projects.
Capital Outlay: An expenditure which results in the acquisition of or addition to capital assets
and meets these criteria: has a value that is over the capitalization threshold established by the
City; has an anticipated useful life of more than one year; can be permanently identified as an
individual unit of property; constitutes a permanent addition to the value of City assets; and does
not constitute repair or maintenance (see also capital expenditure).
Capital Projects Funds: Fund type used to account for financial resources to be used for the
acquisition or construction of major capital facilities (other than those financed by proprietary funds
and trust funds.)
Capitalization Threshold: The dollar value at which a government elects to capitalize tangible
or intangible assets that are used in operations and that have initial useful lives extending beyond
a single reporting period. The capitalization threshold for City of Haltom City is at $5,000.
Cash Basis of Accounting: A method of accounting that recognizes transactions or events when
related cash amounts are received or disbursed.
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: Governmental fund type used to account for the accumulation of resources
for, and the payment of, general long-term debt principal and interest.
Delinquent Taxes: Taxes that remain unpaid on and after the date which a penalty for non-
payment is attached.
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