Page 444 - Southlake FY20 Budget

Budget Glossary
Appendix

BUDGET GLOSSARY

Long-Term Debt: Debt with a maturity of more than one year after the date of issuance.

M

Mandate: A requirement imposed by one unit of government on another unit of government.

Modified Accrual Accounting: A basis of accounting in which expenditures are accrued but revenues are accounted
for on a cash basis. This accounting technique is a combination of cash and accrual accounting since expenditures
are immediately incurred as a liability while revenues are not recorded until they are actually received or are
“measurable” and “available for expenditure”. Since this type of accounting basis is a conservative financial approach,
it is recommended as the standard for most governmental funds.

O

Operating Budget: The annual appropriation to maintain the provision of City services to the public.

Operating Transfer In: Transfer from other funds which are not related to rendering of service.

P

P-Card: Acronym for procurement card. A City-issued credit card which allows employees to make purchases in a cost
effective manner.

Parks Dedication Fund: The Parks Dedication Fund was established to account for resources restricted for use by the
parks department. The primary source of revenue for the Parks Dedication Fund is user charges for the use of City
parks.

Proprietary Fund: See Enterprise Fund.

Proposed Budget: The recommended and unapproved City budget submitted to the City Council and public in August
of each year.

R

Reappropriation: A legal authorization granted by the City Council to reappropriate expenditures to the current budget
year for a specific purpose or program that was budgeted but unexpended at the end of the prior year.

Recycling Fund: This fund accounts for the revenues and expenditures surrounding the City’s contract with its solid
waste provider which requires them to make a monthly payment into the recycling fund. This money is used for several
recycling projects and initiatives.

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