Page 307 - Southlake FY24 Budget
P. 307
Budget Glossary
Crime Control & Prevention District (CCPD) E
Operating Fund: The Crime Control & Prevention
District Operating Fund is a special revenue fund Economic Development Investment Fund: The
established to account for the operations of the Southlake Economic Development Strategic Plan
Crime Control District, which was established for includes the following as recommendation ED15: Appendix
the financing and development of crime control “Maintain ongoing, dedicated funding to achieve
projects within the City of Southlake. This fund is economic development goals by continuing
funded primarily through the receipt of municipal investment in the Economic Development
sales taxes. Investment Fund.” This fund was created in 2013
for that purpose.
Current Assets: Those assets which are available
or can be made readily available to finance Encumbrance: The commitment of appropriated
current operations or to pay current liabilities. funds to purchase an item or service.
Current Liabilities: Debt or other legal Enterprise Fund: A type of proprietary fund
obligations arising out of transactions in the past containing the activities of funds where the
which must be liquidated, renewed, or refunded intent is for the direct beneficiaries to pay for
within one year. all costs of the fund through fees, or where a
periodic determination of revenues and expenses
D is desired by management.
Debt Service: The annual payment of principal Effective Tax Rate: See no new revenue tax rate.
and interest on the City’s indebtedness.
Expenditures: Where accounts are kept on the
Deficit: The excess of the liabilities of a fund accrual or modified accrual basis of accounting,
over its assets. The excess of expenditures over the costs of goods received or services rendered
revenues during an accounting period; or, in the whether cash payments have been made or
case of proprietary funds, the excess of expense not. Where accounts are kept on a cash basis,
over income during an accounting period. expenditures are recognized only when the cash
payments for the above purposes are made.
Delinquent Taxes: Taxes that remain unpaid on
and after the due date on which a penalty for F
non-payment is attached.
Fiscal Year: Any yearly accounting period,
Depreciation: The periodic expiration of an without regard to its relationship to a calendar
asset’s useful life. Depreciation is a requirement, year. The fiscal year for the City of Southlake
in proprietary type funds (such as enterprise and begins on October 1 and ends on September 30.
internal service funds).
Fixed Assets: Assets of a long-term character,
which are intended to continue to be held or
used, such as land, buildings, improvements
other than buildings, machinery and equipment.
FY 2024 City of Southlake | Budget Book 307
