Page 438 - Southlake FY23 Budget

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Budget Glossary
BUDGET GLOSSARY

Budget Hearing: The public hearings conducted by City Council to consider and adopt the annual budget.

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Capital Assets: Assets of significant value which have a useful life of several years. Also referred to as fixed assets.

Capital Budget: Major capital improvements which are beyond the routine operation of the city are budgeted under
separate capital project funds. These projects, which often require more than one year for completion, include items
such as expansion of roads and reconstruction of intersections. In total, these projects are referred to as the Capital
Budget and are not included in the annual operating budget.

Capital Improvements Program (CIP): A plan for capital expenditures to be incurred each year over a fixed period
of years, identifying the expected beginning and ending date, and the amount to be expended in each year and the
method of financing those expenditures.

Capital Outlays: Annual operating expenditures for the acquisition of, or addition to, fixed assets. These
expenditures generally cost more than $5,000, including construction projects, land acquisition, major renovations
or repairs to existing grounds or facilities, and equipment purchases.

Capital Projects: Projects which purchase or construct capital assets. Typically a capital project encompasses a
purchase of land and/or the construction of a building or facility.

Certificate of Obligations (COs): Similar to general obligation bonds except the certificates require no voter approval.

Commercial Vehicle Enforcement Fund: This fund accounts for fines collected from commercial vehicle violations.
Use of these funds is restricted for commercial vehicle enforcement, per State law.

Community Enhancement and Development Corporation (CEDC): The Community Enhancement and Development
Corporation was formed when Southlake voters approved the special levy of a 3/8 cent sales tax in 2015. The
funds are dedicated toward the construction of Phase II of The Marq Southlake, a community events and recreation
facility. Funds will also be used to support operational expenses related to The Marq as well as special economic
development projects.

Community Enhancement and Development Corporation (CEDC) Debt Service Fund: The Community Enhancement
and Development Corporation Debt Service Fund is used to account for the accumulation of financial resources for
payment of long-term principle and interest costs for debt incurred to construct The Marq Southlake Phase II.

Contingency: A budgetary reserve set aside for emergencies or unforeseen expenditures.

Court Security Fund: The Court Security Fund is used to account for municipal court fees assessed to provide for
court security.

Court Technology Fund: The Court Technology Fund is used to account for municipal court fees assessed to provide
for court technology.

Crime Control & Prevention District (CCPD): A citizen approved district that utilizes a half-cent sales tax for the
purchase of land and capital improvements for the Department of Public Safety.

Crime Control & Prevention District (CCPD) Operating Fund: The Crime Control & Prevention District Operating
Fund is a special revenue fund established to account for the operations of the Crime Control District, which was
established for the financing and development of crime control projects within the City of Southlake. This fund is

BUDGET BOOK | FY 2023 City of Southlake 437
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