Page 389 - CityofSouthlakeFY27Budget
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TABLE OF CONTENTS
BUDGET GLOSSARY
sales tax for the purchase of land and capital
improvements for the Department of Public E
Safety.
Economic Development Investment Fund: The
Crime Control & Prevention District (CCPD) Southlake Economic Development Strategic Plan Appendix
Operating Fund: The Crime Control & Prevention includes the following as recommendation ED15:
District Operating Fund is a special revenue fund “Maintain ongoing, dedicated funding to achieve
established to account for the operations of the economic development goals by continuing
Crime Control District, which was established for investment in the Economic Development
the financing and development of crime control Investment Fund.” This fund was created in 2013
projects within the City of Southlake. This fund is for that purpose.
funded primarily through the receipt of municipal
sales taxes. Encumbrance: The commitment of appropriated
funds to purchase an item or service.
Current Assets: Those assets which are available
or can be made readily available to finance Enterprise Fund: A type of proprietary fund
current operations or to pay current liabilities. containing the activities of funds where the
intent is for the direct beneficiaries to pay for
Current Liabilities: Debt or other legal all costs of the fund through fees, or where a
obligations arising out of transactions in the past periodic determination of revenues and expenses
which must be liquidated, renewed, or refunded is desired by management.
within one year.
Effective Tax Rate: See no-new-revenue tax rate.
D
Expenditures: Where accounts are kept on the
Debt Service: The annual payment of principal accrual or modified accrual basis of accounting,
and interest on the City’s indebtedness. the costs of goods received or services rendered
whether cash payments have been made or
Deficit: The excess of the liabilities of a fund not. Where accounts are kept on a cash basis,
over its assets. The excess of expenditures over expenditures are recognized only when the cash
revenues during an accounting period; or, in the payments for the above purposes are made.
case of proprietary funds, the excess of expense
over income during an accounting period. F
Delinquent Taxes: Taxes that remain unpaid on Fiscal Year: Any yearly accounting period,
and after the due date on which a penalty for without regard to its relationship to a calendar
non-payment is attached. year. The fiscal year for the City of Southlake
begins on October 1 and ends on September 30.
Depreciation: The periodic expiration of an
asset’s useful life. Depreciation is a requirement, Fixed Assets: Assets of a long-term character,
in proprietary type funds (such as enterprise and which are intended to continue to be held or
internal service funds). used, such as land, buildings, improvements
other than buildings, machinery and equipment.
FY 2027 City of Southlake | Budget Book 389
