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GLOSSARY OF TERMS

CAPITAL OUTLAY. An expenditure which DEBT SERVICE. The City's obligation to pay the
results in the acquisition of or addition to fixed principal and interest of all bonds and other debt
assets, and meets these criteria: having an instruments according to a predetermined
anticipated useful life of more than one year; can payment schedule.
be permanently identified as an individual unit of
property; belonging to one of the following DEBT SERVICE FUND. A fund used to account
categories – land, buildings, machinery and for resources and expenditures related to
equipment, vehicles, or furniture and fixtures; retirement of the City's general obligation debt
constitutes a tangible, permanent addition to the service, sometimes referred to as a "sinking
value of City assets; cost generally exceeds fund."
$5,000; does not constitute repair or
maintenance; and is not readily susceptible to DECISION PACKAGE. A request for additional
loss. In the budget, capital outlay is budgeted as funding for a program, service, or the expansion
expenditures in all fund types. of current services. A decision package is also
required for any new personnel and capital
CAPITAL PROJECT FUND. A fund used to requests. Decision packages are used during the
account for the financial resources to be used for budget preparation process in order to identify
the acquisition or construction of major capital specific departmental requests in the proposed
facilities or equipment, usually financed by the budget. Decision packages are ranked in their
issuance of debt. order of priority by the department manager
making the request. Decision packages are
CERTIFICATES OF OBLIGATION. Tax- distinguished in the proposed budget separately
supported bonds that are similar to general from the "base line" or "current services" funding
obligation bonds and can be issued after meeting levels. (See BUDGET ENHANCEMENT)
strict publication requirements and with final
approval of the City Council. DEFERRED REVENUE. Cash received from
customers in advance of services received.
CERTIFIED APPRAISAL ROLL. The final Recorded as a liability under general accepted
property appraisals roll, as calculated by the accounting principles. Used primarily for
Tarrant Appraisal District (TAD). The certified roll operations of The Keller Pointe
is required to be prepared by TAD by July 25 of Recreation/Aquatic Center, where annual
each year. memberships are recorded as deferred revenue
in 12 monthly installments. Also referred to as
CITY CHARTER. The document of a home rule Unearned Revenue.
City similar to a constitution, which establishes
the City's government structure and provides for DELINQUENT TAXES. Taxes that remain
the distribution of powers and duties among the unpaid after the date on which a penalty for
various branches of government. nonpayment is attached. Property taxes are
delinquent if not paid by January 31.
CITY COUNCIL. The elected governing body of
the City, consisting of the Mayor and six (6) DEPARTMENT. A major administrative organ-
Council members, collectively acting as the izational unit of the City containing one or more
legislative and policy-making body of the City. divisions or activities.

CRIME CONTROL PREVENTION DISTRICT
SALES TAX. (See KELLER CRIME CONTROL
PREVENTION DISTRICT.)

CURRENT TAXES. Taxes levied and due within
one year.

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