Page 319 - CityofWataugaAdoptedBudgetFY24

GLOSSARY OF TERMS

Overlapping Debt: Proportionate share that property must bear of the debts of other local
governments located wholly or in part within the geographic boundaries of the reporting government.
Examples include BISD/KISD School Districts and debts related to County.

Paying (Fiscal) Agent Fee: Fee paid to the financial institution that receives and disburses bond
payments made on the City’s debt obligations.

Per Capita Costs: The cost of service per person. Per capita costs are based on the population
estimates provided by the North Texas Council of Governments.

Performance Measures: Specific quantitative measures of work performed within a City
department.

Personnel Services: The costs associated with compensating employees for their labor. This
includes salaries and fringe benefits.

Property Taxes: Used to describe all revenues received in a period from current taxes, delinquent
taxes, penalties, and interest on delinquent taxes. Property taxes are levied on both real and
personal property according to the property’s valuation and tax rate.

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.

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

Sales Tax: A general sales tax is levied on persons and businesses selling merchandise or
services in the city limits on a retail basis.

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.

STEP: Acronym for Selective Traffic Enforcement Program whose goal is to reduce the number of
crashes caused by excessive speed, disregard of traffic control devices, and alcohol.

Tap Fees: Fees charged to join or to extend an existing utility system.

Tax Anticipation Notes: Short-term, interest bearing note issued by a government in anticipation of
tax revenues to be received at a later date.

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