Page 208 - City of Kennedale Adopted Budget FY22

OBJECTIVE
A clear, measurable statement of aim, performance intentions, and/or expected accomplishments within
the fiscal year; should imply a specific standard for performance for a given program or department

OPERATING BUDGET
Plans of current expenditures and the proposed means of financing them; Utilization of an annual
operating budget is usually required by law to regulate government spending

OPERATING COSTS
Outlays for such current period items as expendable supplies, contractual services, and utilities

ORDINANCE
Formal legislative enacted by the governing body of the municipality (the City Council); Revenue-raising
measures (such as the imposition of taxes, special assessments, and service charges) universally require
ordinances; Legislation is not passed until the plans for and costs of the expenditures are known

OTHER SERVICES AND CHARGES
The cost related to services performed for the City by individuals, business, and utilities

PERSONNEL SERVICES
Costs associated with compensating employees for their labor including all salaries, wages, and benefits

RETAINED EARNINGS
Equity account that reflects the accumulated earnings of an enterprise fund

REVENUE
Additions to the City’s financial assets (e.g., taxes, grants) which do not — in and of themselves — increase
liabilities, provided that there is no corresponding decrease in assets or increase in other liabilities

REVENUE BONDS
Bonds whose principal and interest are payable exclusively from a revenue source pledged as the payment
source before issuance

TAX BASE
Total value of all real and personal property within the City as of January 1 of each year, as certified by the
Tarrant Appraisal District (TAD); Represents the net value after all exemptions have been deducted

TAX LEVY
Result of multiplying the tax base by the tax rate and dividing that total by $100.00

TAX RATE
The amount of tax stated in terms of a unit of the tax base; For example, the City of Kennedale expresses
the tax in terms of dollars per hundred dollars of assessed valuation

UNENCUMBERED BALANCE
The amount of an appropriation that is not expended or encumbered; Essentially, the amount of money
currently available for future purchases
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WORKING CAPITAL
The excess of current assets over current liabilities

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