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APPROVED BUDGET FISCAL YEAR 2022-2023

Infrastructure - The underlying permanent foundation or basic framework.

Interest Earnings - The earnings from available funds invested during the year in U.S. Treasury Bonds,
Government agencies, and Certificates of Deposits.

Intergovernmental Revenues - Revenues from other governments in the form of grants, entitlements,
shared revenues or payments in lieu of taxes.

Internal Service Funds - Funds established to finance and account for services and commodities
furnished by a designated department to other departments within a single governmental unit or to other
governmental units. Amounts expended by the fund are restored thereto, either from operating earnings
or by transfers from other funds, so that the original fund capital is kept intact.

Investments - Securities, bonds, and real property (land or buildings) held for the production of
revenues in the form of interest, dividends, rentals or lease payments. The term does not include
fixed assets used in the normal course of governmental operations.

Liabilities - Debts or other legal obligations arising out of transactions in the past, which must be
liquidated, renewed or refunded at some future date.

Line Items - Expenditure classifications established to account for approved appropriations. Line
Item budgets for all departments are available upon request in the Fiscal Services Department.

Long-Term Debt - Unmatured debt of a government expected to be repaid from government funds. An
average repayment schedule is 20 years.

M&O – Maintenance and Operations

Maintenance - All materials or contract expenditures covering repair and upkeep of City buildings,
machinery and equipment, systems, and land.

Major Fund – Governmental Fund or enterprise fund reported as a separate column in the basic fund
financial statements and subject to a separate opinion in the independent auditor’s report.

Materials and Supplies - Expendable materials and operating supplies necessary to conduct
departmental activity.

Modified Accrual Accounting - A basis of accounting in which revenues are recognized in the
accounting period when they become available and measurable. Expenditures are recognized in the
accounting period in which the fund liability is incurred.

Motor Pool - Includes all City vehicles and tracks operational and maintenance costs to individual
units.

Multi Year Financial Overview - A financial overview with three years of history and five years of
projections for all operating funds is presented in July prior to City Council budget workshop in
August.

NCTCOG or COG – North Central Texas Council of Governments, is a voluntary association of, by and
for local governments, established to assist local governments in planning for common needs,
cooperating for mutual benefit, and coordinating for sound regional development.

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