Page 560 - FortWorthFY22AdoptedBudget

Glossary and Acronyms

Taxing Unit: A local government that levies a property tax.

Total Exemption: An exemption that exempts all of a property’s value-form taxation.

Total Taxable Value: The sum of the taxable values of all properties on the appraisal roll for a taxing unit.

Transfers: Amounts transferred from one fund to another.

Trust Funds: A fund held by a trustee for the specific purposes of the trust; in a more general sense, a fund which,
legally or equitably, is subject to be devoted to a particular purpose and cannot, or should not, be diverted
therefrom.

Unencumbered Balance: The amount of an appropriation that is neither expended nor encumbered. It is the
amount of money still available for future purchases.

Use of Fund Balance: Refers to an allocation of money in a Governmental Fund that the city previously received
from some source and did not expend. This category differs from all other listed categories because the amounts
in question are the result of past receipts rather than projected income during the fiscal year.

Use of Money and Property: Refers to money generated from the sale, loan, or rental of the city’s tangible and
intangible assets and includes interest earned on invested cash, short- and long-term rental income,
concessionaire payments, and proceeds from the sale of surplus or abandoned property.

Use of Net Position: Refers to the allocation of money in a Proprietary or Fiduciary Fund that the city previously
received from some source and did not expend. This category differs from all other listed categories because
the amounts in question are the result of past receipts rather than projected income during the fiscal year.

Vision: A description of an organization’s desired future state. The vision describes where the organization is
headed, what it intends to be, or how it wishes to be perceived in the future.

Voter-Approval Tax Rate: A calculated maximum rate allowed by law without voter approval. Most taxing units
calculate a voter-approval tax rate that divides the overall property taxes into two categories - M&O and debt
service. The voter-approval tax rate provides cities and counties with about the same amount of tax revenue it
spent the previous year for day-to-day operations plus an extra three and a half percent for operations and
sufficient funds to pay debts in the coming year.

Voucher: A document indicating that a transaction has occurred. It usually specifies the accounts related to the
transaction.

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