Page 442 - Keller FY20 Approved Budget
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GLOSSARY OF TERMS
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CAPITAL OUTLAY. An expenditure which DEBT SERVICE. The City's obligation to pay
results in the acquisition of or addition to fixed the principal and interest of all bonds and other
assets, and meets these criteria: having an debt instruments according to a predetermined
anticipated useful life of more than one year; can payment schedule.
be permanently identified as an individual unit of
property; belonging to one of the following DEBT SERVICE FUND. A fund used to
categories – land, buildings, machinery and account for resources and expenditures related
equipment, vehicles, or furniture and fixtures; to retirement of the City's general obligation debt
constitutes a tangible, permanent addition to the service, sometimes referred to as a "sinking
value of City assets; cost generally exceeds fund."
$5,000; does not constitute repair or
maintenance; and is not readily susceptible to DECISION PACKAGE. A request for additional
loss. In the budget, capital outlay is budgeted funding for a program, service, or the expansion
as expenditures in all fund types. of current services. A decision package is also
required for any new personnel and capital
CAPITAL PROJECT FUND. A fund used to requests. Decision packages are used during
account for the financial resources to be used the budget preparation process in order to
for the acquisition or construction of major identify specific departmental requests in the
capital facilities or equipment, usually financed proposed budget. Decision packages are
by the issuance of debt. ranked in their order of priority by the
department manager making the request.
CERTIFICATES OF OBLIGATION. Tax- Decision packages are distinguished in the pro-
supported bonds that are similar to general posed budget separately from the "base line" or
obligation bonds and can be issued after "current services" funding levels. (See BUDGET
meeting strict publication requirements and with ENHANCEMENT)
final approval of the City Council.
DEFERRED REVENUE. Cash received from
CERTIFIED APPRAISAL ROLL. The final customers in advance of services received.
property appraisals roll, as calculated by the Recorded as a liability under general accepted
Tarrant Appraisal District (TAD). The certified accounting principles. Used primarily for
roll is required to be prepared by TAD by July 25 operations of The Keller Pointe
of each year. Recreation/Aquatic Center, where annual
memberships are recorded as deferred revenue
CITY CHARTER. The document of a home in 12 monthly installments. Also referred to as
rule City similar to a constitution, which Unearned Revenue.
establishes the City's government structure and
provides for the distribution of powers and duties DELINQUENT TAXES. Taxes that remain
among the various branches of government. unpaid after the date on which a penalty for
nonpayment is attached. Property taxes are
CITY COUNCIL. The elected governing body delinquent if not paid by January 31.
of the City, consisting of the Mayor and six (6)
Council members, collectively acting as the DEPARTMENT. A major administrative organ-
legislative and policy-making body of the City. izational unit of the City containing one or more
divisions or activities.
CRIME CONTROL PREVENTION DISTRICT
SALES TAX. (See KELLER CRIME CONTROL
PREVENTION DISTRICT.)
CURRENT TAXES. Taxes levied and due
within one year.
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