Page 464 - Hurst FY20 Approved Budget

BUDGET GLOSSARY (CONTINUED)

Non- Major Funds- Funds not classified as major funds that should be reported in the aggregate in a
separate column in the basic fund financial statements.

Objectives - Specific statements of desired ends, which can be measured.

Operating Budget - Plans of current expenditures and the proposed means of financing them. The
annual operating budget is the primary means by which most of the financing acquisition, spending
and service delivery activities of a government are controlled. The use of an annual operating budget
is usually required by law.

Operating Costs – Outlays for such current period items as expendable supplies, contractual
services, and utilities.

Ordinance - A formal legislative enactment by the governing board of a municipality. If it is not in
conflict with any higher form of law, such as a State statute or constitutional provision, it has the full
force and effect of law within the boundaries of the municipality to which it applies. The difference
between an ordinance and a resolution is that the latter requires less legal formality and has a lower
legal status. Revenue raising measures, such as the imposition of taxes, special assessments and
service charges, universally require ordinances. Ordinances and other legislation are not passed
until the plans for and costs of endorsements are known.

Part-Time - Part-time employees work less than 30 hours per week and are not entitled to full-time
employee benefits.

Per Capita Costs - The cost of service per person. Per capita costs are based on a 38,750-population
estimate provided by the North Central Texas Council of Governments.

Performance Measures - Specific quantitative measures of work performed within an activity or
program. They may also measure results obtained through an activity or program.

Personnel Services - The costs associated with compensating employees for their labor. This
includes salaries and fringe benefits.

Projected - The amount of projected revenues, expenditures or activity to be collected or
accomplished during the fiscal year.

Property Taxes - Used to describe all revenues received in a period from current taxes, delinquent
taxes, penalties, and interest on delinquent taxes. Property taxes are levied on both real and personal
property according to the property's valuation and tax rate.

Proprietary Funds – Such as the City’s Enterprise and Internal Service funds are used to account for
services provided by one department or agency of a government to other departments, other
governmental units, or the general public on a user charge basis.

Public Hearing - The portions of open meetings held to present evidence and provide information on
both sides of an issue.

Reserve - An account used to indicate that a portion of a fund balance is restricted for a specific
purpose.

Retained Earnings - The excess of assets less liabilities in the proprietary funds.

Revenue - Funds that the government receives as income.

Revenue Bonds - Bonds whose principal and interest are payable exclusively from a revenue source
pledged as the payment source before issuance.

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