Page 337 - City of Watauga FY22 Adopted Budget

GLOSSARY OF TERMS

Overlapping Debt: Proportionate share that property must bear of the debts of other local
governments located wholly or in part within the geographic boundaries of the reporting
government. Examples include BISD/KISD School Districts and debts related to County.

Paying (Fiscal) Agent Fee: Fee paid to the financial institution that receives and disburses bond
payments made on the City’s debt obligations.

Per Capita Costs: The cost of service per person. Per capita costs are based on the population
estimates provided by the North Texas Council of Governments.

Performance Measures: Specific quantitative measures of work performed within a City
department.

Personnel Services: The costs associated with compensating employees for their labor. This
includes salaries and fringe benefits.

Proprietary Fund: A fund to account for activities that focus on operating income and cash flows.
Such activities are often business-like, whether internal or external to the organization.

Refunding: The issuance of new debt whose proceeds are used to repay previously issued debt.

Reserve: An account used to indicate that a portion of a fund balance is restricted for a specific
purpose.

Revenues: All amounts of money earned or received by the City from external sources.

Revenue Bonds: Bonds usually sold for constructing a project that will produce revenue for the
governmental entity. All or part of the produced revenue is used to pay the principle and interest of
the bond.

Revised Budget: A department’s authorized budget as modified by City Council action, through
new or decreased appropriation or appropriation transfers from contingency, or transfers from or to
another department or fund.
Rollback Rate: A Total Tax Rate that incorporates an eight-percent (8%) increase over the
calculated effective M&O rate, plus the I&S rate. Any rate proposed above the Rollback Rate is
subject to taxpayer petition to “rollback” the rate to the Rollback Rate.

SCADA: Supervisory Control and Data Acquisition is an automated system that is the normal daily
means of water system operation. This automated system records flow data and operates pumps
and valves.

Special Revenue Fund: A governmental fund, which is used to account for activities in which a
specific revenue source is legally restricted for a specific activity.

Tap Fees: Fees charged to join or to extend an existing utility system.

Tax Anticipation Notes: Short-term, interest bearing note issued by a government in anticipation
of tax revenues to be received at a later date.

Taxes: Compulsory charges levied by a government for the purpose of financing services
performed for the common benefit. The term does not include specific charges made against
particular persons or property for current or permanent benefits such as special assessments.
Neither does the term include charges for services rendered only to those paying such charges as,
for example, sewer service charges. 328