Page 343 - City of Colleyville FY22 Adopted Budget

LEVY: To impose taxes for the support of City services.

MAJOR FUND: A fund that comprises at least 10 percent of
revenues/expenditures of all funds

MIXED BEVERAGE TAX: A tax at the rate of 10% imposed on the gross
receipts of a licensee from the sale, preparation, or serving of mixed
beverages

MODIFIED ACCRUAL BASIS: Basis of accounting according to which
revenues are recognized in the accounting period in which they become
available and measurable and expenditures are recognized in the accounting
period in which the fund liability occurs, if measurable.

NON-DEPARTMENTAL: Includes debt service, operating transfers between
funds, and compensation adjustment.

NETCO: The Northeast Tarrant County radio consortium that includes the
cities of Bedford, Colleyville, Euless, Grapevine, Keller, and Southlake.

(O)PERATIONS AND (M) AINTENANCE: Represents the portion of taxes
assessed for the operations and maintenance of General Fund Services.

OPERATING BUDGET: A financial plan outlining estimated revenues and
expenditures and other information for a specified period (usually a fiscal
year). The "proposed budget" is the financial plan presented by the City
Manager for consideration by the City Council, and the "adopted budget" is
the financial plan ultimately approved and authorized by the City Council.

OPERATING EXPENSES: Proprietary fund expenses directly related to the
fund’s primary service activities.

OPERATING REVENUES: Proprietary fund revenues directly related to the
fund’s primary service activities. They consist primarily of user charges for
services.

ORDINANCE: A formal legislative enactment by the governing body of a
municipality. It is not in conflict with any higher form of law, such as a state
statute or constitutional provision; it has the full force and effect of law
within the boundaries of the municipality to which it applies.

PER CAPITA DEBT: Total tax supported debt outstanding divided by
population.

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