Page 344 - City of Colleyville FY22 Adopted Budget

PERSONNEL SERVICES: Expenditures made for salaries and related benefit
costs.

POLICY: A definite course of action adopted after a review of information
and directed at the realization of goals.

PROPERTY TAXES: Used to describe all revenues received in a period from
current taxes, delinquent taxes, penalties and interest on delinquent taxes.
Property taxes are levied on both real and personal property according to
the property’s valuation and tax rate.

PROPRIETARY FUND: used to account for a government's ongoing
organizations and activities that are similar to businesses found in the
private sector. These funds are considered self-supporting in that the
services rendered by them are generally financed through user charges or
on a cost reimbursement basis.

PROPOSED BUDGET: The budget prepared by the City Manager and
submitted to the City Council for approval.

RESERVE: An account used to indicate that a portion of fund resources is
restricted for a specific purpose, or is not available for appropriation and
subsequent spending.

RETAINED EARNINGS: An account reflecting the accumulated earnings of
an enterprise fund, as determined at the end of each fiscal year.

REVENUE BONDS: Long term debt (bonds) the repayment of which is
based upon pledged revenues from a revenue generating facility.

REVENUES: All amounts of money earned or received by the City from
external sources.

SALES TAX: A general "sales tax" is levied on persons and businesses
selling merchandise and/or services in the city limits on a retail basis. State
law defines the categories for taxation.

STRATEGY MAP: The strategic plan used by the City of Colleyville to
outline the City’s goals and objectives

SUPPLIES: A cost category for minor items (individually priced at less than
$5,000) required by departments to conduct their operations.

TAX BASE: The total property valuations on which each taxing entity levies
its tax rates.

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