Page 292 - CityofMansfieldFY24Budget

General Obligation Bonds Bonds that finance a variety of public projects such as streets,
buildings, and improvements; the repayment of these bonds is
usually made from the General Fund, and these bonds are
backed by the full faith and credit of the issuing government.

Governmental Fund Funds used to account for essentially the same functions
reported as governmental activities in the government-wide
financial statements.

Grant A contribution by a government or other organization to support
a particular function. Grants may be classified as either
categorical or block depending upon the amount of discretion
allowed the grantee.

Impact Fee A fee charged at the time of building permit issuance for
roadway and utility infrastructure costs in various quadrants of
the City.

Infrastructure The underlying permanent foundation or basic framework e.g.
streets, water, sewer, public buildings, and parks.

Inter-fund Transfers Amounts transferred from one fund to another.

Intergovernmental Revenue Revenue received from another government for a specified
purpose. In Mansfield, these funds are from the State of Texas
and the Federal Government.

Internal Service Fund Funds used to account for the financing of goods or services
provided by one department to another department on a cost
reimbursement basis.

Inventory A detailed listing of property currently held by the government.

Invoice A bill requesting payment for goods or services by a vendor or
other governmental unit.

Levy To impose taxes, special assessments, or service charges for the
support of City activities.

Liability Debt or other legal obligation arising out of transactions in the
past which must be liquidated, renewed, or refunded.

Line-Item Budget A budget that lists each expenditure category separately (salary,
materials, telephone service, travel, etc.), along with the dollar
amount budgeted for each specified category.

Maintenance The upkeep of physical properties in condition for use or
occupancy. Examples: inspection of equipment to detect defects
and the making of repairs.

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