Page 559 - FortWorthFY22AdoptedBudget

Glossary and Acronyms

Rollback Rate: This is a limiting rate. If a governing body adopts a rate that exceeds the rollback rate, the voters
may be able to force the taxing unit to roll back or lower the rate to this limit. This terminology is now known as
the Voter-Approval Tax Rate

Salary Savings: The amount of salary expense that is saved when a position is vacant or filled at a lower salary
level than the budgeted level.

Sales Tax: Tax based on the value of most goods and services sold or consumed in the city. Sales tax is the second-
largest revenue source for the General Fund.

Scorecard: A tabular display of department performance measures and initiatives that highlights the current
status and overall progress.

Service Charges: Payments received as a result of administrative services such as inspections associated with the
issuance of building and other permits, automobile impoundment, private-property mowing, athletic league
administration, and library charges.

Single Audit Report (SAR): An annual publication that provides information about the government’s expenditures
of Federal and State awards. The Single Audit Report also includes the Auditor's reports on internal control and
compliance as well as findings and questioned costs relating to financial statements and Federal financial
assistance programs. The SAR consists of 6 major sections. 1. The introductory section consists of the purposes
and contents of the report, letter of transmittal, and overview. 2. Auditor’s report on internal control over
financial reporting, and report on compliance for each major federal and state program 3. Schedule of
expenditures of federal and state awards, and notes to the schedule of expenditures of federal and state awards.
4. Schedule of findings and questioned costs. 5. Corrective action plan. 6. Status of prior audit findings.

Source of Revenue: Revenues are classified according to their source or point of origin.

Special Revenue Fund: Governmental fund type used to account for the proceeds of specific revenue sources that
are restricted or committed to expenditures for a specified purpose other than debt service or capital projects
and exclusive of resources held in trust for individuals, private organizations, or other governments.

Supplemental Appropriation: A legal procedure utilized during the fiscal year by the city staff and City Council to
revise a budget appropriation. The City of Fort Worth's City Charter requires City Council approval through the
adoption of a supplemental appropriation ordinance (which specifies both the source of revenue and the
appropriate expenditure account) for any interdepartmental or interfund adjustments. City staff has the
prerogative to adjust expenditures within a departmental budget.

Target: A quantifiable, desired result to be achieved within a stated time, against which actual results can be
compared. Targets may be based on regulatory or industry standards, policy decisions, historical data, or
benchmark data.

Tax Levy: The total property taxes imposed in a year.

Tax Rate: The number when multiplied by taxable value gives the amount of tax.

Taxable Value: The appraised value is shown on the appraisal roll minus any applicable exemptions.

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