Page 465 - Hurst FY20 Approved Budget

BUDGET GLOSSARY (CONTINUED)

Risk Management - An organized attempt to protect a government's assets against accidental loss in
the most economic method.

ROW – Right of Way

Strategic Information Resource Plan - A document that is available from the Information Services
Division and serves as a guideline and basis for budgeting for future citywide computer related
needs.

Special Revenue Fund - A fund used to account for the proceeds of specific revenue sources (other
than special assessments, expendable trusts or for major capital projects) that are legally restricted
to expenditures for specified purposes.

Sundry Charges - This includes items that are not in the supply or maintenance category. These
expenses may be for services provided by private business organizations, by public utilities, for
contract labor, for outside consultants, payment of claims and damages against the City, or service
provided by some department of the government agency.

Tax Base - The total value of all real and personal property in the City as of January 1st of each year,
as certified by the Appraisal Review Board. The tax base represents net value after all exemptions.

Tax Levy - The resultant product when the tax rate per one hundred dollars is multiplied by the tax
base.

Tax Rate - Total tax rate is set by Council and is made up of two components: debt service and
operations rates. The 2015-2016 tax rate for the City of Hurst is $.606 per $100.00 valuation.
According to Section 5.42 of the City Charter, the maximum tax rate shall not exceed $1.50 on the one
hundred dollars ($100.00) valuation of taxable property within the City.

Working Capital – Current assets minus current liabilities.

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