Page 466 - Microsoft Word - FY 2021 tax info sheet

GLOSSARY OF TERMS
OPERATING BUDGET. Plans of current REIMBURSEMENT. Repayment to a specific
expenditures and the proposed means of fund for expenditures incurred or services
financing them. The annual operating budget is performed by that fund to or for the benefit of
the primary means by which most of the another fund.
financing, acquisition, spending and service
delivery activities of the City are controlled. The RESERVE FUND BALANCE. A fund resources
use of annual operating budgets is required by that is restricted for a specific purpose, or is not
the City's Charter and State law. available for appropriation and subsequent
spending.
OPERATIONS AND MAINTENANCE EXPEND-
ITURES. Expenditures for routine supplies and RESIDENT HOMESTEAD EXEMPTION. See
maintenance costs necessary for the operation of homestead exemption.
a department of the City.
RETAINED EARNINGS. The excess of total
ORDINANCE. A formal legislative enactment of assets over total liabilities for an enterprise fund.
the City Council. Retained earnings include both short-term and
long-term assets and liabilities for an enterprise
−P− fund. (See WORKING CAPITAL.)

PAYMENT-IN-LIEU OF TAXES. A payment REVENUE. Funds that the City receives as
made to the City in lieu of taxes. These payments income. Revenues increase fund balance.
are generally made by tax exempt entities for
which the City provides specific services. The REVENUE BONDS. Bonds whose principal and
City's water and wastewater utility fund provides interest are payable exclusively from earnings of
these payments to the City's general fund an enterprise fund, in addition to a pledge of
because of the fund's exemption from property revenues.
taxation.
−S−
PEG FEE. Acronym for “Public Education and
Government” fee. See PUBLIC EDUCATION SALES TAX. A general tax on certain retail sales
AND GOVERNMENT (PEG) FEE. levied on persons and businesses selling taxable
items in the city limits. The City's current sales
PERSONNEL SERVICES. Expenditures for tax rate is 8.25%, consisting of 6.25% for the
salaries, wages and related fringe benefits of City State of Texas; 1% for the City; 0.5% for the
employees. Keller Development Corporation, 0.25% for the
Keller Crime Control Prevention District, and
POSITION. See Full-Time Equivalent. 0.25% for maintenance and repair of City streets.

PROPOSED BUDGET. The financial plan SCADA. Acronym for Supervisory Control and
initially developed by departments and presented Data Acquisition. An automated system that
by the City Manager to the City Council for electronically monitors and controls water
approval. storage tanks, pumping stations, and water
supply levels. The system monitors and
PUBLIC EDUCATION AND GOVERNMENT coordinates water supply throughout the City in
(PEG) FEE. Cable franchise fees charged in order to meet customer water demands, by
accordance with Section 622(g)(2)(C) of the allowing remote facilities to be operated from a
Cable Act (47 U.S.C. SS542(g)(2)(c). PEG fees central location.
are remitted to the City by television cable
providers. Fees may be used for capital costs SERVICES & OTHER EXPENDITURES. Costs
for PEG facilities, including purchases of cameras related to services performed by the City by
and equipment used in the broadcasting and/or individuals, businesses, or utilities, and other
dissemination of public information. expenditures not classified in any other category.

−R−

REDUCTION IN FORCE (RIF). Dismissal and/or
layoff of an employee or employees, usually by
elimination of the position(s).

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