Page 173 - Haltom City FY20 Approved Budget

City of Haltom City Annual Budget, FY 2020
Supplemental Information

Department: An entity within the City for the administration of specifically enumerated duties. A
department head is responsible for the accomplishment of the tasks assigned and the fiscal
administration of the department.

Depreciation: The process of estimating and recording the lost usefulness, expired useful life or
diminution of service from a fixed asset that cannot or will not be restored by repair and will be
replaced. The cost of the fixed asset’s lost usefulness is the depreciation or the cost to reserve
in order to replace the item at the end of its useful life.

Drainage Fund: This fund was created during the FY2005 budget preparation process in order
to generate revenue needed to address flooding and drainage issues in Haltom City. Projects
have been undertaken and studies conducted on the Big Fossil Creek, the required National
Pollution Discharge Elimination System (NPDES), Haltom Pond and Solona Drive.

Enterprise Fund: A proprietary fund in which the services provided are financed and operated
similarly to those of a private business. The rate schedules for these services are established to
insure that revenues are adequate to meet all necessary expenses. Enterprise funds in Haltom
City are established for water and sewer service and drainage utility.

Expenditures: This term refers to the outflow of funds paid or to be paid for an asset obtained or
goods and services received.

Expenses: Charges incurred (whether paid immediately or unpaid) for operation, maintenance,
interest, and other charges.

Fiscal Year: The time period designated by the City signifying the beginning and ending period
for recording financial transactions. The City of Haltom City has specified October 1 to September
30 as its fiscal year.

Fund: A fully self-contained accounting entity used for measuring the operating activities of a
standalone operational unit of the City.

Fund Balance: The difference between assets and liabilities reported in a governmental fund.

General Fund: The General Fund accounts for many of the financial resources of the
government. General Fund revenues include taxes, franchise fees, licenses and permits, service
charges, and other types of revenue. This fund usually includes most of the basic operating

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