Page 340 - City of Colleyville FY22 Adopted Budget
P. 340

CAPITAL OUTLAY: An expenditure greater than $5,000 which results in the
               acquisition of or addition to fixed assets, and meets  these criteria: has an
               anticipated useful life of more than one year; can be permanently identified
               as an individual unit of property; belongs to one of the following categories:
               Land, Buildings, Structures & Improvements, Equipment; constitutes a
               tangible, permanent addition to the value of City assets; does not constitute
               repair or maintenance; and, is not readily susceptible to loss.

               CAPITAL PROJECT: A specific and identifiable improvement or purpose for
               which expenditures are proposed within the capital budget or capital
               improvement program.

               CCCPD: Acronym for the Colleyville Crime Control and Prevention District, a
               special  district  funded by a ½ cent sales and use tax which is  legally
               restricted to police department operations as approved by the Colleyville
               Crime Control and Prevention Board.

               CEDC:  Acronym for the Colleyville Economic Development Corporation, a
               nonprofit corporation, formed under the Development  Corporation Act of
               1979, which provides funding to the City for economic development, parks,
               library and cultural improvements.  This corporation is funded by a ½ cent
               sales and use tax.

               CERTIFICATES OF OBLIGATION (C.O.):  Tax-supported bonds  that are
               similar to general  obligation bonds and can be issued after meeting strict
               publication requirements and with final approval of the City Council.

               CITY CHARTER: The document of a home rule City similar to a constitution,
               which establishes  the City’s government structure and provides for the
               distribution of powers and duties among the various branches of
               government.

               CITY COUNCIL: The Mayor and six (6) Council members collectively acting
               as the legislative and policymaking body of the City.

               CONTRACTUAL SERVICES: Services purchased by the City such as utility
               services, insurance, maintenance contracts, and outside consulting.

               CURRENT TAXES:  Taxes levied and due within one year.

               DEBT SERVICE: The City's obligation to pay the principal and interest of all
               bonds and other debt instruments according to a pre-determined payment
               schedule.






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