Page 357 - HasletFY24AdoptedBudget

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.

Sales Tax: A general “sales tax” levied on persons and businesses selling
merchandise or services within the city limits on a retail basis. The basic tax is
one-cent, but cities have the option of imposing additional sales taxes in varying
amounts of up to one-cent. The additional sales taxes are knows as dedicated
taxes, because their proceeds may be spent only for certain purposes.

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 date and operated pumps and values.

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 charge to join or to extend an existing utility system.

Tax Levy: The resultant product when the tax rate per one hundred dollars is
multiplied by the tax base.

Tax Rate: An amount applied to the taxable value of assessed property,
expressed as cents per $100 of assessed property.

Tax Rate Limit: The maximum rate at which a government may levy a tax. The
limit may apply to taxes raised for a particular purpose, or to taxes imposed for all
purposes, and may apply to a single government, to a class of governments, or
to all governments operating in a particular area. Overall tax rate limits usually
restrict levies for all purposes and of all governments, state and local, having
jurisdiction in a given area.

Tax Roll: The official list of taxable property for a given tax year and the amount
of taxes levied against each taxpayer.

Texas Municipal Retirement System (TMRS): An agent multiple-employer public
retirement system. Haslet provides pension benefits for all permanent
employees through a joint contributory plan in the statewide Texas Municipal
Retirement System.

Trinity River Authority (TRA): A conservation and reclamation district that
provides water from reservoir facilities, water and wastewater treatment, along

Haslet Adopted Budget FY 2023-2024 349