Page 249 - BudgetBookCover_FY26_Adopted.pdf
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Infrastructure
That portion of a City's assets located at or below ground level, including streets, water, and sewer systems.
Internal Service Fund
Internal Service Funds are used to account for the financing of goods or services provided by one department to other departments on a cost-reimbursement
basis.
Johnson County Appraisal District
The Johnson County Appraisal District was created by the Texas legislature to appraise all real and personal property within Johnson County for ad valorem
taxation. Each taxing authority in the county uses the property values determined by JCAD to set tax rates. JCAD operates under the supervision of a board of
directors appointed by the local taxing units, ensuring the fair and accurate administration of property valuations countywide.
Levy
To impose taxes or special assessments. The total of taxes or special assessments imposed by a governmental unit.
Liability
Debt or other legal obligations arising out of transactions in the past that must be liquidated, renewed, or refunded at some future date. The term does not
include encumbrances.
Long-term Debt
Debt with a maturity of more than one year after the date of issuance.
Materials and Supplies
Expendable materials and operating supplies necessary to conduct the business of departmental activities.
Mixed Beverage Tax
A tax imposed on the gross receipts of a licensee for the sale, preparation, or serving of mixed beverages.
Modified Accrual Basis
The basis of accounting under which expenditures other than accrued interest on general long-term debt are recorded at the time liabilities are incurred, and
revenues are recorded when received in cash, except for material and/or available resources, which should be accrued to reflect properly the taxes levied and
revenue earned.
No New Revenue Tax Rate
Defined by State law. In general, the tax rate that will raise the same amount of property tax revenue as the previous year, based on properties taxed in both
years.
Objectives
A specific statement of desired end results that can be measured.
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