Page 543 - Bedford-FY24-25 Budget

the existing valuation system, the results of an in-depth sales ratio study, and the accuracy of existing property record
information.

Revenue: Funds that the government receives as income.

(RAN): A short-term loan issued to be paid off by revenues, such as tax collections and state aid.
Revenue Anticipation Note
RANs are full faith and credit obligations.

Revenue Bond: A bond payable from and secured solely by speci c revenues and thereby not a full faith and credit obligation.

Revolving Fund: Allows a community to raise revenues from a speci c service and use those revenues without appropriation to
support the service.

Special Revenue Fund: A type of governmental fund whose revenue source(s) is restricted or committed to a speci c purpose
other than capital projects or debt service. Usually has one or more revenue resources that is not a transfer from another fund.
For example, the Tourism Fund is a special revenue fund that is primarily nanced by hotel occupancy taxes. Revenue from this
fund is used to nance the ongoing operations of several tourism-related facilities and special events.

Surplus Revenue: The amount by which cash, accounts receivable, and other assets exceed liabilities and reserves.

Tax Rate: A percentage applied to all taxable property to raise general fund revenue.

Taxes: Compulsory charges levied by a government for the purpose of nancing services performed for the common bene t.

Valuation: The legal requirement that a community’s assessed value on property must re ect its market, or full and fair cash
value.

Capital: The measurement of the operating liquidity of a proprietary fund by subtracting the current liabilities from
Working
the current assets.

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 543