Page 650 - City of Bedford FY22 Budget
P. 650

t he  exi s t i ng   v al uat i o n  s y s t em ,  t he  r es ul t s   o f   an  i n-dept h  s al es   rat i o   s t udy ,  and  t he  accuracy   o f   exi s t i ng   pr o per t y   r eco r d
            i nf o r m at i o n. 
            Re ve n u e :   F unds   t hat   t he  g o v er nm ent   r ecei v es   as   i nco m e.

            Re ve n u e  A n ticip a tion  Note  (RA N):   A  s ho r t -t er m   l o an  i s s ued  t o   be  pai d  o f f   by   r ev enues ,  s uch  as   t ax  co l l ect i o ns   and  s t at e  ai d.
            RANs   ar e  f ul l   f ai t h  and  cr edi t   o bl i g at i o ns .

            Re ve n u e  B on d :   A  bo nd  pay abl e  f r o m   and  s ecur ed  s o l el y   by   s peci { c  r ev enues   and  t her eby   no t   a  f ul l   f ai t h  and  cr edi t   o bl i g at i o n.
            Re volvin g  Fu n d :   Al l o ws   a  co m m uni t y   t o   rai s e  r ev enues   f r o m   a  s peci { c  s er v i ce  and  us e  t ho s e  r ev enues   wi t ho ut   appr o pr i at i o n
            t o   s uppo r t   t he  s er v i ce. 
            Sp e cia l  Re ve n u e    Fu n d :    A   f und   who s e   r ev enue   s o ur ce( s )    i s    r es t r i ct ed   o r    co m m i t t ed   t o    a   s peci { c   pur po s e   o t her    t han   capi t al
            pr o j ect s   o r   debt    s er v i ce.   Us ual l y    has    o ne  o r   m o r e  r ev enue  r es o ur ces   t hat   i s    no t    a   t rans f er    f r o m   ano t her    f und.   F o r   exam pl e,   t he
            To ur i s m   F und  i s    a   s peci al    r ev enue   f und  t hat   i s   pr i m ar i l y    { nanced  by    ho t el   o ccupancy    t axes .  Rev enue   f r o m   t hi s   f und   i s    us ed   t o
            { nance  t he  o ng o i ng   o perat i o ns   o f   s ev eral   t o ur i s m -r el at ed  f aci l i t i es   and  s peci al   ev ent s .

            Su rp lu s Re ve n u e :   The  am o unt   by   whi ch  cas h,  acco unt s   r ecei v abl e,  and  o t her   as s et s   exceed  l i abi l i t i es   and  r es er v es .
            T a x Ra te :   A  per cent ag e  appl i ed  t o   al l   t axabl e  pr o per t y   t o   rai s e  g eneral   f und  r ev enue.

            T a xe s:   Co m pul s o r y   char g es   l ev i ed  by   a  g o v er nm ent   f o r   t he  pur po s e  o f   { nanci ng   s er v i ces   per f o r m ed  f o r   t he  co m m o n  bene{ t .

            Va lu a tion  (10 0  Pe rce n t):   The  l eg al   r equi r em ent   t hat   a  co m m uni t y ’s   as s es s ed  v al ue  o n  pr o per t y   m us t   r e| ect   i t s   m ar ket ,  o r   f ul l
            and  f ai r   cas h  v al ue.

            Workin g  Ca p ita l:   The  m eas ur em ent   o f   t he  o perat i ng   l i qui di t y   o f   a  pr o pr i et ar y   f und  by   s ubt ract i ng   t he  cur r ent   l i abi l i t i es   f r o m
            t he  cur r ent   as s et s .














































                 City of Bedford, TX | Budget Book 2022                                                    Page 650
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