Page 356 - HasletFY24AdoptedBudget

North Central Texas Council of Governments (NCTCOG): A voluntary
association of, by and for local governments, established to assist in regional
planning.

Operating Budget: A financial plan outlining estimated revenues and
expenditures and other information for a specified period (usually a fiscal year).
The “proposed budget” is the financial plan presented by the City Administrator
for consideration by the City Council, and the “adopted budget” is the financial
plan ultimately approved and authorized by the City Council.

Operating and Maintenance (O&M): Operating and Maintenance expenditures
such as salaries or repair of equipment.

Ordinance: A formal legislative enactment by the governing board of a
municipality. If it is not in conflict with any higher form of law, such as a State
statute or constitutional provision, it has the full force and effect of law within the
boundaries of the municipality to which it applies. The difference between an
ordinance and a resolution is that latter requires less legal formality and has a
lower legal status. Revenue raising measure, such as the imposition of taxes,
special assessment, and service charge, universally require ordinances.

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.

Retained Earnings: Term used in the Enterprise Funds to indicate the available
funds after submission of the year-end balance sheet to the primary government.

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 transfer from
contingency, or transfer from or to another department or fund.

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