Page 444 - Keller FY20 Approved Budget

GLOSSARY OF TERMS
INTERGOVERNMENTAL REVENUES. Rev-
enues from other governments in the form of
grants, entitlements, shared revenues or
payments-in-lieu of taxes.
−K−
KELLER CRIME CONTROL PREVENTION
DISTRICT (KCCPD). A special taxing district
authorized by an election in the City of Keller in
November 2001, levying an additional 3/8-cent
(0.375%) sales tax, designated for Police/Public
Safety programs or capital improvements. In
May 2006, voters authorized the tax for an
additional 15 years. In November 2007, voters
authorized a reduction in the rate to 0.25%.
Sometimes referred to as "Crime Tax."
KELLER DEVELOPMENT CORPORATION
(KDC). A non-profit corporation authorized by
Section 4B, Article 5190.6 of the Industrial
Corporation Act of 1979. The Corporation is
governed by a seven-member board, consisting
of four members of the City Council and three
other members, who are appointed by the City
Council. The Corporation receives the ½ cent
sales tax, which is dedicated for park
improvements. The Corporation also has the
power to issue long-term debt which is payable
from the ½ cent sales tax.
KELLER INDEPENDENT SCHOOL DISTRICT
(KISD). The local independent school district,
where an elected board of directors (trustees)
provide for the administration and operation of
schools within the KISD. The City of Keller is
included within the boundaries of KISD, but the
KISD is a separate legal entity.
−L−
LIABILITY. Debt or other legal obligations
arising out of transactions in the past that must
be liquidated, renewed, or refunded at some
future date. The term does not include
encumbrances.
−M−
M&O. Acronym for "maintenance and
operations." (1) The recurring costs associated
with a department or activity; (2) the portion of
the tax rate that is applied to the General Fund
(see TAX RATE).
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MIXED BEVERAGE TAX. A tax imposed on the
gross receipts of a licensee for the sale,
preparation or serving of mixed beverages.
MODIFIED ACCRUAL BASIS OF
ACCOUNTING. A basis of accounting in which
expenditures are accrued but revenues are
recorded when "measurable" or are available for
expenditure.
MSC. Acronym for the City's Municipal Service
Center facility and related operations.
−N−
NEFDA. Acronym for “Northeast Fire
Department Association.” A regional association
developed by a group of cities in Northeast
Tarrant County, Texas, for the purpose of
combining manpower, ideas, and education for
specialty operations. There are currently 13
area cities that comprise or participate in
NEFDA.
NETCO. Acronym for “Northeast Trunked Radio
Consortium.” An 800 MHz trunked radio system
providing the infrastructure that serves the cities
of Bedford, Colleyville, Euless, Grapevine, Keller
and Southlake. Each participating city shares in
1/6 of the maintenance and replacement cost of
the system.
NETCOM. Acronym for “Northeast Tarrant
Communications Center.” A combined
dispatch/communications center located in
Keller, that provides consolidated enhanced 911
services for the cities of Keller, Colleyville,
Southlake, and Westlake.
NON-RECURRING EXPENSES/REVENUES.
Resources/expenses recognized by the City that
are unique and occur only one time without
pattern in one fiscal year.
−O−
OBJECTIVE. A specific statement of desired
end 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 the City are controlled. The
use of annual operating budgets is required by
the City's Charter and State law.