Page 650 - City of Bedford FY22 Budget

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