Page 645 - City of Bedford FY22 Budget
P. 645

B on d  a n d  I n te re st Re cord :   ( B o nd  Reg i s t er )   –  The  per m anent   and  co m pl et e  r eco r d  m ai nt ai ned  by   a  t r eas ur er   f o r   each  bo nd
            i s s ue.  It   s ho ws   t he  am o unt   o f   i nt er es t   and  pr i nci pal   co m i ng   due  each  dat e  and  al l   o t her   per t i nent   i nf o r m at i o n  co ncer ni ng   t he
            bo nd  i s s ue.

            B on d s A u th oriz e d  a n d  Un issu e d :   B al ance  o f   a  bo nd  aut ho r i zat i o n  no t   y et   s o l d.  Upo n  co m pl et i o n  o r   abando nm ent   o f   a
            pr o j ect ,  any   r em ai ni ng   bal ance  o f   aut ho r i zed  and  uni s s ued  bo nds   m ay   no t   be  us ed  f o r   o t her   pur po s es ,  but   m us t   be  r es ci nded
            by   t he  co m m uni t y ' s   l eg i s l at i v e  bo dy   t o   be  r em o v ed  f r o m   co m m uni t y ' s   bo o ks .

            B on d  I ssu e :   G eneral l y ,  t he  s al e  o f   a  cer t ai n  num ber   o f   bo nds   at   o ne  t i m e  by   a  g o v er nm ent al   uni t .
            B on d  Ra tin g  (Mu n icip a l):   A  cr edi t   rat i ng   as s i g ned  t o   a  m uni ci pal i t y   t o   hel p  i nv es t o r s   as s es s   t he  f ut ur e  abi l i t y ,  l eg al   o bl i g at i o n,
            and  wi l l i ng nes s   o f   t he  m uni ci pal i t y   ( bo nd  i s s uer )   t o   m ake  t i m el y   debt   s er v i ce  pay m ent s .  S t at ed  o t her wi s e,  a  rat i ng   hel ps
            pr o s pect i v e  i nv es t o r s   det er m i ne  t he  l ev el   o f   r i s k  as s o ci at ed  wi t h  a  g i v en  { xed-i nco m e  i nv es t m ent .  Rat i ng   ag enci es ,  s uch  as
            Mo o dy ' s   and  S t andar d  and  Po o r s ,  us e  rat i ng   s y s t em s ,  whi ch  des i g nat e  a  l et t er   o r   a  co m bi nat i o n  o f   l et t er s   and  num eral s   wher e
            AAA  i s   t he  hi g hes t   rat i ng   and  C1  i s   a  v er y   l o w  rat i ng .

            B u d g e t:   A  pl an  f o r   al l o cat i ng   r es o ur ces   t o   s uppo r t   par t i cul ar   s er v i ces ,  pur po s es   and  f unct i o ns   o v er   a  s peci { ed  per i o d  o f   t i m e.
            ( S ee  Per f o r m ance  B udg et ,  Pr o g ram   B udg et )

            B u d g e t Ca le n d a r:   The  s chedul e  o f   dat es   and  us ed  as   a  g ui de  t o   co m pl et e  t he  v ar i o us   s t eps   o f   t he  budg et   pr eparat i o n  and
            ado pt i o n  pr o ces s .

            B u d g e ta ry B a sis:   The  Ci t y ' s   acco unt i ng   r eco r ds   f o r   g eneral   g o v er nm ent al   o perat i o ns   ar e  m ai nt ai ned  o n  a  m o di { ed  accr ual
            bas i s ,  wi t h  t he  r ev enues   r eco g ni zed  when  t hey   beco m e  bo t h  av ai l abl e  and  m eas urabl e  and  expendi t ur es   r eco g ni zed  when  t he
            s er v i ces   o r   g o o ds   ar e  r ecei v ed  and  t he  l i abi l i t i es   ar e  i ncur r ed.    Acco unt i ng   r eco r ds   f o r   t he  Ci t y ' s   pr o pr i et ar y   f unds   ar e
            m ai nt ai ned  o n  an  accr ual   bas i s .

            B u d g e ta ry Con trol:   The  co nt r o l   o f   m anag em ent   o f   t he  o r g ani zat i o n  i n  acco r dance  wi t h  an  appr o v ed  budg et   f o r   t he  pur po s es
            o f   keepi ng   expendi t ur es   wi t hi n  t he  l i m i t at i o ns   o f   av ai l abl e  appr o pr i at i o ns   and  r ev enues .
            B u d g e t D ocu m e n t:   The  co m pi l at i o n  o f   t he  s pendi ng   pl ans   f o r   t he  v ar i o us   f unds ,  al o ng   wi t h  s uppo r t i ng   s chedul es ,  t abl es ,  and
            char t s   whi ch,  i n  t o t al ,  co m pr i s es   t he  annual   r ev enue  and  expendi t ur es   pl an.

            Ca p ita l A sse ts:   Al l   r eal   and  t ang i bl e  pr o per t y   us ed  i n  t he  o perat i o n  o f   g o v er nm ent ,  whi ch  i s   no t   eas i l y   co nv er t ed  i nt o   cas h,  and
            has   an  i ni t i al   us ef ul   l i v e  ext endi ng   bey o nd  a  s i ng l e  { nanci al   r epo r t i ng   per i o d.  Capi t al   as s et s   i ncl ude  l and  and  l and
            i m pr o v em ent s ;  i nf ras t r uct ur e  s uch  as   r o ads ,  br i dg es ,  wat er   and  s ewer   l i nes ;  eas em ent s ;  bui l di ng s   and  bui l di ng   i m pr o v em ent s ;
            v ehi cl es ,  m achi ner y   and  equi pm ent .  Co m m uni t i es   t y pi cal l y   de{ ne  capi t al   as s et s   i n  t er m s   o f   a  m i ni m um   us ef ul   l i f e  and  a
            m i ni m um   i ni t i al   co s t .  ( S ee  F i xed  As s et s )

            Ca p ita l B u d g e t:   An  appr o pr i at i o n  o r   s pendi ng   pl an  t hat   us es   bo r r o wi ng   o r   di r ect   o ut l ay   f o r   capi t al   o r   { xed  as s et
            i m pr o v em ent s .  Am o ng   o t her   i nf o r m at i o n,  a  capi t al   budg et   s ho ul d  i dent i f y   t he  m et ho d  o f   { nanci ng   each  r eco m m ended
            expendi t ur e,  i .e.,  t ax  l ev y   o r   rat es ,  and  i dent i f y   t ho s e  i t em s   t hat   wer e  no t   r eco m m ended.  ( S ee  Capi t al   As s et s ,  F i xed  As s et s )

            Ca p ita l O u tla y:   An   expendi t ur e  whi ch  r es ul t s   i n  t he   acqui s i t i o n   o f ,   o r   addi t i o n  t o ,  { xed  as s et s ,   and   m eet s   t hes e  cr i t er i a:   has    an
            ant i ci pat ed  us ef ul   l i f e  o f   m o r e  t han  o ne  y ear ;  can  be  per m anent l y   i dent i { ed  as   an  i ndi v i dual   uni t   o f   pr o per t y ;  bel o ng s   t o   o ne  o f
            t he  f o l l o wi ng    cat eg o r i es :  Land,   B ui l di ng s ,  Equi pm ent    and  Vehi cl es ;   co ns t i t ut es   a   t ang i bl e,   per m anent   addi t i o n   t o    t he   v al ue   o f
            Ci t y    as s et s ;  co s t    g eneral l y    exceeds   at    l eas t    $ 1,000;   do es    no t   co ns t i t ut e  r epai r    o r    m ai nt enance;  and,   i s    no t    r eadi l y    s us cept i bl e  t o
            l o s s .

            Ca p ita l   Proje ct   Fu n d s:    The   capi t al    pr o j ect    f unds    ar e   us ed   t o    acco unt    f o r    t he   acqui s i t i o n   o r    co ns t r uct i o n   o f    capi t al    f aci l i t i es
            bei ng   { nanced  f r o m   g eneral   o bl i g at i o ns   o r   cer t i { cat e  o f   o bl i g at i o n  bo nd  pr o ceeds ,  g rant s ,  o r   t rans f er s   f r o m   o t her   f unds .
            Ca sh :   Cur r ency ,  co i n,  checks ,  po s t al   and  expr es s   m o ney   o r der s   and  banker s ’  draf t s   o n  hand  o r   o n  depo s i t   wi t h  an  o f { ci al   o r
            ag ent   des i g nat ed  as   cus t o di an  o f   cas h  and  bank  depo s i t s .

            Ca sh  Ma n a g e m e n t:   The  pr o ces s   o f   m o ni t o r i ng   t he  ebb  and  | o w  o f   m o ney   i n  an  o ut   o f   m uni ci pal   acco unt s   t o   ens ur e  cas h
            av ai l abi l i t y   t o   pay   bi l l s   and  t o   f aci l i t at e  deci s i o ns   o n  t he  need  f o r   s ho r t -  t er m   bo r r o wi ng   and  i nv es t m ent   o f   i dl e  cas h.

            Ce rti{ ca te  of D e p osit (CD ):   A  bank  depo s i t   ev i denced  by   a  neg o t i abl e  o r   no n-neg o t i abl e  i ns t r um ent ,  whi ch  pr o v i des   o n  i t s
            f ace  t hat   t he  am o unt   o f   s uch  depo s i t   pl us   a  s peci { ed  i nt er es t   pay abl e  t o   a  bear er   o r   t o   any   s peci { ed  per s o n  o n  a  cer t ai n
            s peci { ed  dat e,  at   t he  expi rat i o n  o f   a  cer t ai n  s peci { ed  t i m e,  o r   upo n  no t i ce  i n  wr i t i ng .

                 City of Bedford, TX | Budget Book 2022                                                    Page 645
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