Page 648 - City of Bedford FY22 Budget
P. 648

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
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