Page 648 - City of Bedford FY22 Budget

G ove rn m e n ta l Fu n d s: Appl i es t o al l f unds except f o r t he pr o { t and l o s s f unds ( e.g ., ent er pr i s e f und) .
G ra n t: A co nt r i but i o n by a g o v er nm ent o r o t her o r g ani zat i o n t o s uppo r t a par t i cul ar f unct i o n.

I n d ire ct Cost: Co s t s o f a s er v i ce no t r e| ect ed i n t he o perat i ng budg et o f t he ent i t y pr o v i di ng t he s er v i ce. An exam pl e o f an
i ndi r ect co s t o f pr o v i di ng wat er s er v i ce wo ul d be t he v al ue o f t i m e s pent by no n-wat er depar t m ent em pl o y ees pr o ces s i ng
wat er bi l l s . A det er m i nat i o n o f t hes e co s t s i s neces s ar y t o anal y ze t he t o t al co s t o f s er v i ce del i v er y . The m at t er o f i ndi r ect co s t s
ar i s es m o s t o f t en i n t he co nt ext o f ent er pr i s e f unds .
I n fra stru ctu re : That po r t i o n o f a ci t y ' s as s et s l o cat ed at o r bel o w g r o und l ev el , i ncl udi ng t he wat er s y s t em , s ewer s y s t em , and
s t r eet s .
I n p u ts: A t y pe o f per f o r m ance m eas ur e r epo r t i ng t he r es o ur ces us ed by a depar t m ent o r di v i s i o n t o pr o duce o ut put s and
o ut co m es . Exam pl es i ncl ude: num ber o f f ul l t i m e equi v al ent s , equi pm ent , f aci l i t i es and s uppl i es .

I n te re st: Co m pens at i o n pai d o r t o be pai d f o r t he us e o f m o ney , i ncl udi ng am o unt s pay abl e at per i o di c i nt er v al s o r di s co unt ed
at t he t i m e a l o an i s m ade. In t he cas e o f m uni ci pal bo nds , i nt er es t pay m ent s accr ue o n a day -t o -day bas i s , but ar e pai d ev er y
s i x m o nt hs .
I n te re st a n d Sin kin g (I . & S. ): The co m po nent o f t he ad v al o r em t ax rat e t hat f unds G eneral O bl i g at i o n and Cer t i { cat es o f
O bl i g at i o n debt pay m ent s .

I n te re st Ra te : The i nt er es t pay abl e, expr es s ed as a per cent ag e o f t he pr i nci pal av ai l abl e f o r us e dur i ng a s peci { ed per i o d o f
t i m e. It i s al way s expr es s ed i n annual t er m s .

I n ve stm e n ts: S ecur i t i es and r eal es t at e hel d f o r t he pr o duct i o n o f i nco m e i n t he f o r m o f i nt er es t , di v i dends , r ent al s o r l eas e
pay m ent s . The t er m do es no t i ncl ude { xed as s et s us ed i n g o v er nm ent al o perat i o ns .

Lia b ilitie s: D ebt o r o t her l eg al o bl i g at i o ns ar i s i ng o ut o f t rans act i o ns i n t he pas t whi ch m us t be l i qui dat ed, r enewed, o r
r ef unded at s o m e f ut ur e dat e. Thi s t er m do es no t i ncl ude encum brances .

Lin e I te m B u d g e t: A budg et t hat s eparat es s pendi ng i nt o cat eg o r i es , o r g r eat er det ai l , s uch as s uppl i es , equi pm ent ,
m ai nt enance, o r s al ar i es , as o ppo s ed t o a pr o g ram budg et .

Lon g -Te rm D e b t: Unm at ur ed debt o f a g o v er nm ent expect ed t o be r epai d f r o m g o v er nm ent f unds . An av erag e r epay m ent
s chedul e i s 20 y ear s .

Ma in te n a n ce : Al l m at er i al s o r co nt ract expendi t ur es co v er i ng r epai r and upkeep o f Ci t y B ui l di ng s , m achi ner y , equi pm ent ,
s y s t em s , and l and.

Ma jor Fu n d : A f und who s e r ev enues , expendi t ur es /expens es , as s et s , o r l i abi l i t i es ar e at l eas t 10 per cent o f t he co r r es po ndi ng
t o t al s f o r al l g o v er nm ent al o r ent er pr i s e f unds and at l eas t 5 per cent o f t he ag g r eg at e am o unt f o r al l g o v er nm ent and
ent er pr i s e f unds .

Ma tu rity D a te : The dat e t hat t he pr i nci pal o f a bo nd beco m es due and pay abl e i n f ul l .
Mod i{ e d A ccru a l A ccou n tin g : A bas i s o f acco unt i ng i n whi ch r ev enues ar e r eco g ni zed i n t he acco unt i ng per i o d when t hey
beco m e av ai l abl e and m eas urabl e. Expendi t ur es ar e r eco g ni zed i n t he acco unt i ng per i o d i n whi ch t he f und l i abi l i t y i s i ncur r ed.

Mu n icip a l(s): ( As us ed i n t he bo nd t rade) “Muni ci pal ” r ef er s t o any s t at e o r s ubo r di nat e g o v er nm ent al uni t . “Muni ci pal s ” ( i .e.,
m uni ci pal bo nds ) i ncl ude no t o nl y t he bo nds o f al l po l i t i cal s ubdi v i s i o ns , s uch as ci t i es , t o wns , s cho o l di s t r i ct s , s peci al di s t r i ct s ,
co unt i es but al s o bo nds o f t he s t at e and ag enci es o f t he s t at e.

Ne t A sse ts: As s et s i n exces s o f a f und' s l i abi l i t i es t hat ar e r es t r i ct ed, i nv es t ed i n capi t al as s et s , net o f r el at ed debt and/o r
unr es t r i ct ed.
Note : A s ho r t -t er m l o an, t y pi cal l y wi t h a m at ur i t y dat e o f a y ear o r l es s .

O b je cts of Exp e n d itu re s: A cl as s i { cat i o n o f expendi t ur es t hat i s us ed f o r co di ng any depar t m ent di s bur s em ent , s uch as
“per s o nal s er v i ces ,” “expens es ,” o r “capi t al o ut l ay .”

City of Bedford, TX | Budget Book 2022 Page 648