Page 445 - Southlake FY20 Budget

Appendix

BUDGET GLOSSARY

Red Light Camera Fund: This fund accounts for fines collected from violations issued from the City’s red light enforcement
camera system. Funds collected by the City of Southlake as a result of violations/citations issued must be used for traffic
safety programs.

Reforestation Fund: This fund accounts for revenues and expenditures dedicated for reforestation. These funds are
derived from assessments related to the tree preservation ordinance and policies.

Reserve: A segregation of assets to provide for future use toward a specified purpose.

Resources: Total dollars available for appropriations including estimated revenues, fund transfers and beginning fund
balances.

Revenue: Income received by the City to support programs or services to the community. It includes such items as taxes,
fees, user charges, grants, fines, forfeits, interest income and miscellaneous revenue.

Revenue Estimate: A formal estimate of how much revenue will be earned from a specific source for some future
period; typically, a year.

Rollback Tax Rate: The highest tax rate the taxing unit can set before taxpayers can start tax rollback procedures.

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Salaries and Wages: Amounts paid for services rendered by employees in accordance with rates, hours, terms and
conditions authorized by law or stated in employment contracts. This category also includes overtime and seasonal help.

Special Assessment Debt: Principal and interest on bonds related to Local Improvement Districts. This type of debt
is callable when money is available to make payments which occurs when prepayments are received from property
owners. The City budgets as if the entire debt will be paid in the current year, although this is highly unlikely.

Special Revenue Funds: General government funds where the source of revenue is dedicated to a specific purpose.

Southlake Parks Development Corporation (SPDC): A citizen approved non-profit development corporation established
to develop and operate park and recreational facilities. The SPDC utilizes a half-cent sales tax for the purpose of acquiring
land and making improvements to parks.

Southlake Parks Development Corporation (SPDC) Debt Service Fund: The Southlake Parks Development Corporation
Debt Service Fund is utilized to account for the accumulation of financial resources, primarily transfers from other
funds, for the payment of long-term principle and interest costs associated with the financing of improvements of the

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