Page 140 - CityofBurlesonFY26Budget

Definition of Terms

Accrual Basis
The basis of accounting under which transactions are recognized when they occur regardless of the
timing of related cash flows.

Ad Valorem Tax
A tax computed on the assessed valuation of all property, real personal and improvements to
property within a taxing jurisdiction subject to taxation on January 1.

Appropriation
A legal authorization granted by a legislative body to make expenditures and to incur obligations
for specific purposes.

Assessed Valuation
A value that is established for real or personal property for use as a basis for levying property taxes.
(Note Property values are established by the Johnson County Appraisal District.)

BACC
Acronym for Burleson Area Chamber of Commerce.

BPD
Acronym for Burleson Police Department.

Base Budget
The amount of revenues and expenditures needed to maintain current service levels.

Balanced Budget
The budget where projected expenditures equal projected revenue.

Bond
Faith and credit financings requiring preparation of offering statements and bond ratings.

BRiCk
Acronym for Burleson Recreation Center

Budget
The City's financial plan for a specific fiscal year that contains both the estimated revenues to be
received during the year and the estimated expenditures to be incurred to achieve stated objectives.

Budget Document

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