Page 310 - Southlake FY24 Budget

Budget Glossary
R Rollback Tax Rate: See voter-approval tax rate.
Reappropriation: A legal authorization granted
by the City Council to reappropriate expenditures
to the current budget year for a specific purpose
or program that was budgeted but unexpended
at the end of the prior year.
Appendix
Recycling Fund: This fund accounts for the
revenues and expenditures surrounding the City’s
contract with its solid waste provider which
requires them to make a monthly payment into
the recycling fund. This money is used for several
recycling projects and initiatives.
Red Light Camera Fund: This fund accounts
for fines collected from violations issued from
the City’s red light enforcement camera system.
Funds collected by the City of Southlake as a
result of violations/citations issued must be used
for traffic safety programs.
Reforestation Fund: This fund accounts for
revenues and expenditures dedicated for
reforestation. These funds are derived from
assessments related to the tree preservation
ordinance and policies.
Reserve: A segregation of assets to provide for
future use toward a specified purpose.
Resources: Total dollars available for
appropriations including estimated revenues,
fund transfers and beginning fund balances.
Revenue: Income received by the City to support
programs or services to the community. It
includes such items as taxes, fees, user charges,
grants, fines, forfeits, interest income and
miscellaneous revenue.
Revenue Estimate: A formal estimate of how
much revenue will be earned from a specific
source for some future period; typically, a year.
310 FY 2024 City of Southlake | Budget Book
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Salaries and Wages: Amounts paid for services
rendered by employees in accordance with rates,
hours, terms and conditions authorized by law or
stated in employment contracts. This category
also includes overtime and seasonal help.
Special Assessment Debt: Principal and interest
on bonds related to Local Improvement Districts.
This type of debt is callable when money is
available to make payments which occurs when
prepayments are received from property owners.
The City budgets as if the entire debt will be
paid in the current year, although this is highly
unlikely.
Special Revenue Funds: General government
funds where the source of revenue is dedicated
to a specific purpose.
Southlake Parks Development Corporation
(SPDC): A citizen approved non-profit
development corporation established to
develop and operate park and recreational
facilities. The SPDC utilizes a half-cent sales tax
for the purpose of acquiring land and making
improvements to parks.
Southlake Parks Development Corporation
(SPDC) Debt Service Fund: The Southlake Parks
Development Corporation Debt Service Fund
is utilized to account for the accumulation of
financial resources, primarily transfers from other
funds, for the payment of long-term principle
and interest costs associated with the financing
of improvements of the Southlake Parks
Development Corporation.