Page 521 - NRH FY20 Approved Budget

GLOSSARY

reserve may also be an account used to earmark a portion of fund equity as legally segregated for a specific
future use.

RESERVE FOR REPLACEMENT AND REPAIR OF INFRASTRUCTURE AT THE AQUATIC PARK: Funds in
this reserve shall be specifically reserved annually for major improvements and replacements. This reserve is
not for routine maintenance or the addition of attractions at the Park. Refer to Resolution No. 97-54, approved
November 24, 1997.

RESOURCES: Assets that can be used to fund expenditures.

REVENUES: All amounts of money earned or received by the City from external sources.

REVENUE BONDS: Bonds whose principal and interest are payable exclusively from a revenue source
pledged as the payment source before issuance.

SALES TAX: A general “sales tax” is levied on persons and businesses selling merchandise or services in the
city limits on a retail basis. The categories for taxation are defined by state law. Monies collected under
authorization of this tax are for the use and benefit of the city; however, no city may pledge anticipated
revenues from this source to secure the payment of funds or other indebtedness.

SIDEWALK CONSTRUCTION FUND: A Fund whereby monies are solely for the purpose of construction
and/or reconstruction of sidewalks throughout the City for the safety and convenience of pedestrians. Refer to
Ordinance No. 2484, approved June 26, 2000.

SPECIAL REVENUE FUNDS: 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 specific purposes.

SUNDRY CHARGES: This includes items which 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.

SUPPLIES: Expendable materials and operating supplies necessary to conduct the business of departmental
activities.

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

TAX INCREMENT FINANCING (TIF): The act of capturing the amount of property
taxes levied by a taxing unit for the year on the appraised value of real property located within a defined
investment zone. The tax increments are paid into the TIF fund and used to pay project costs within the zone,
including debt service obligations.

TAX LEVY: The resultant product when the
tax rate per one hundred dollars is multiplied by the tax base.

TAX RATE: A percentage applied to all taxable property to raise general revenues. It is derived by dividing the
total tax levy by the taxable net property valuation.

TAX ROLL: The official list showing the amount of taxes levied against each taxpayer or property in the City.
This list is provided to the City by Tarrant Appraisal District.

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