Page 483 - Bedford-FY23-24 Budget

Revenue Bond: A bond payable from and secured solely by speci c revenues and thereby not a full faith and credit obligation.

Revolving Fund: Allows a community to raise revenues from a speci c service and use those revenues without appropriation to
support the service.

Fund: A fund whose revenue source(s) is restricted or committed to a speci c purpose other than capital
Special Revenue
projects or debt service. Usually has one or more revenue resources that is not a transfer from another fund. For example, the
Tourism Fund is a special revenue fund that is primarily nanced by hotel occupancy taxes. Revenue from this fund is used to
nance the ongoing operations of several tourism-related facilities and special events.

Surplus Revenue: The amount by which cash, accounts receivable, and other assets exceed liabilities and reserves.

Tax Rate: A percentage applied to all taxable property to raise general fund revenue.
Taxes: Compulsory charges levied by a government for the purpose of nancing services performed for the common bene t.

Valuation ( 100 Percent): The legal requirement that a community’s assessed value on property must re ect its market, or full
and fair cash value.

Working Capital: The measurement of the operating liquidity of a proprietary fund by subtracting the current liabilities from
the current assets.

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 483