HomeMy WebLinkAbout15-Acronyms-Glossary-IndexAcronyms
Glossary
Index
293
Commonly Used Acronyms
AMR Automatic Meter Reading
BRA Brazos River Authority
CAPCOG Capital Area Council of Governments
CIP Capital Improvement Plan
CIS Customer Information System
CSR Customer Service Representative
CTSUD Chisholm Trail Special Utility District
EARZ Edwards Aquifer Recharge Zone
EPA Environmental Protection Agency
ERCOT Electric Reliability Council of Texas
ERT Encoder Receiver Transmitter
ESD Emergency Services District
ETJ Extra-territorial Jurisdiction
FAA Federal Aviation Administration
GEDCO Georgetown Economic Development Corporation
GIS Geographic Information System
GISD Georgetown Independent School District
GPS Global Positioning System
GTAB Georgetown Transportation Advisory Board
GTEC Georgetown Transportation Enhancement Corporation
HEB H.E. Butt (Grocer)
HVAC Heating Ventilating and Air Conditioning
IRS Internal Revenue Service
ISF Internal Service Fund
ISO Insurance Services Office
LCRA Lower Colorado River Authority
OTP Overall Transportation Plan
PCI Pavement Condition Index
RFP Request for Proposal
RSMP Regional Stormwater Master Plan
SCADA Supervisory Control and Data Acquisition
SRF Special Revenue Fund
TCEQ Texas Commission on Environmental Quality
TCLEOSE Texas Commission of Law Enforcement Officer Standards and Education
TDS Texas Disposal System
TEC Texas Electric Cooperatives
TEEX Texas Engineering Extension Service
TLETS Texas Law Enforcement Telecommunications System
TxDot Texas Department of Transportation
UDC Unified Development Code
WCAD Williamson Central Appraisal District
WWTP Wastewater Treatment Plant
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Glossary
Accrual Accounting - A basis of accounting in which revenues are recognized in the accounting period in which
they are earned, and expenses are recognized in the period in which they are incurred.
Administrative Charges - The charges imposed upon a fund for support services provided by another fund.
For example, the Accounting Department (Joint Services Fund) provides services to the Electric Fund, therefore
the Joint Services Fund charges the Electric Fund for these services based on reasonable allocation methods.
Adopted - Adopted, as used in fund summaries and department and division summaries within the budget
document, represents the budget as approved by formal action of the City Council which sets the spending limits
for the fiscal year.
Ad Valorem - In proportion to value. A basis for levy of taxes on property.
Amended Budget - Includes the adopted budget for a fiscal year, plus any budget amendments or budget
transfers.
Annexed Property - Land previously outside the City limits that becomes part of the City during a year through
the legal process of incorporation.
Annual Operating Plan - The Century Plan requires the preparation and adoption of an annual operating plan,
or budget, that focuses on the Policies of the Century Plan as a way to account for projects and work activities
initiated by the City. The Annual Operating Plan acts as the City’s short range guideline for revenue projections,
cost of service budgeting and project planning and demonstrates incremental progress towards the
implementation of the Century Plan. The Annual Operating Plan includes programs, projects and work activities
for the one, two and five year time horizons.
Appropriation - An authorization made by the City Council through an approved budget which permits the City
to incur obligations and to make expenditures of resources. Appropriations lapse at the end of the fiscal year.
Assessed Valuation - A valuation set upon real estate or other property by the County Appraisal District to be
used as a basis for levying taxes.
Asset - Resources owned or held which have monetary value.
Audit - A comprehensive review of the manner in which the government's resources were actually utilized. A
certified public accountant issues an opinion over the presentation of financial statements, tests the controls over
the safekeeping of assets and makes recommendations for improvements where necessary.
Balance Sheet - A financial statement that discloses the assets, liabilities, reserves and balances of a specific
fund as of a specific date.
Base Budget - The on-going expense for personnel, operating services and the replacement of supplies and
equipment to maintain service levels. The base budget does not include new programs or projects, which are
approved on an individual basis.
Benchmarking – Measures progress from a point in time and is something that serves as a standard by which
others may be measured.
Bond - A written promise, generally under seal, to pay a specified sum of money, called the face value, at a
fixed time in the future, called the date of maturity, and carrying interest at a fixed rate, usually payable
periodically. The difference between a note and a bond is that the latter usually runs for a longer period of time
and requires greater legal formality.
Budget - A plan of operation embodying an estimate of proposed expenditures for a given period and the
proposed means of financing them. The City of Georgetown’s budget is called the Annual Operating Plan.
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Budget by Program/Function - A breakdown of the annual budget that groups like expenditures by the
type of program or function. Interfund charges and Internal Service fund premiums or leases are
eliminated for presentation purposes.
Budget Year - The fiscal year of the City which begins October 1 and ends September 30.
Capital Budget - A plan of proposed capital outlays and the means of financing them for the current fiscal
period.
Capital or Capital Outlay - See the Capitalization Policy in this Budget for a definition of this term.
Capital Improvement Program - The Capital Improvement Program (CIP) is a comprehensive plan of
capital investment projects which identifies priorities as to need, method of financing, and project costs and
revenues that will result during a five year period. The program is a guide for identifying current and future
fiscal year requirements and becomes the basis for determining the annual capital budget.
CIP or Capital Projects - A group of planned expenditures for construction of large scale assets, such as
a water line. Significant maintenance projects, such as street overlay, are also considered capital projects,
but are capitalized only in the event they extend the life of the asset.
Capital Recovery Fees - Capital Recovery Fees are developer paid infrastructure fees adopted under
Chapter 395 of Texas Local Government Code or as part of a development agreement.
Capital Replacement Fund - Vehicle which allows purchase of operating capital items on a long-term
basis through budgeted annual payments and transfers during the fiscal year. The City’s Fleet and
Information Services Internal Service Funds act as capital replacement funds.
Cash Accounting - A basis of accounting in which transactions are recorded when cash is either received
or expended.
Century Plan - The City’s comprehensive plan that acts as a cornerstone for the City’s present and future
development and reflects the aspirations of the citizens for their City and describes an ongoing process by
which Georgetown will strive to enhance its quality of life. The Century Plan is currently in effect until 2010
and contains the Policy Plan, which contains the overriding policies and administrative structure of the
Plan and the Functional Plan elements, which address specific elements is detail.
City Charter - The document that establishes the City as an incorporated political subdivision (municipal
government) in accordance with the statutes of the State of Texas. The charter provides the form, roles
and powers of the municipal government that is the City of Georgetown.
Conservation Rate - A stepped water rate, effective only during the summer months for residential
customers, to encourage water conservation. All revenue generated from these increased rates is put
aside to be used for future expansion of water treatment plants.
Contingency - A budgetary appropriation reserve set aside for emergencies or unforeseen expenditures
not otherwise budgeted for. The primary contingency account requires City Council approval for all
expenditures.
Contingency Reserves - A portion of the budgeted ending fund balance or working capital that is not
available for appropriation. The intent of the reserves are to provide flexibility, should actual revenues fall
short of budgeted revenues and to provide adequate resources to implement budgeted expenditures
without regard to the actual cash flow of the fund.
Coverage Ratio - A term defined by revenue bond indenture. Refers to the ratio of net revenues of the
electric, water and wastewater systems, after all maintenance and operations expenses are considered, to
total debt service. The minimum ratio required by the current bond indenture is 1.25. The City’s Fiscal
Policy requires 1.5 times coverage.
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Debt Margin - The difference between the maximum amount of debt that is legally permitted and the amount of
debt outstanding subject to the limitation.
Debt Payments - Scheduled payments of principle and interest on outstanding debt. The payments are often
referred to as “debt service”.
Debt Principle Reduction - The scheduled yearly payment that reduces the amount of outstanding debt.
Debt Service - The City's obligation to pay principal and interest on bonded debt.
A. Self-Supported Debt - Debt for which the City has pledged a repayment source separate from its
general tax revenues (e.g. stormwater bonds repaid from stormwater drainage fees.)
B. Tax Supported - Debt for which the City has pledged a repayment from its property taxes.
Debt to Valuation Ratio - The amount of taxable debt outstanding as a percentage of the taxable property
assessment. This is a common benchmark used to determine the appropriateness of a city’s property tax
supported general obligation debt (including Certificates of Obligation).
Dedicated Property Tax - The portion of property taxes that is set aside for a specific use, such as street
maintenance. The City Council has dedicated five cents of the property tax rate to street capital improvements.
Del E. Webb Corporation (Del Webb) - see Sun City Texas.
Delinquent Taxes - Taxes that remain unpaid after the date on which a penalty for nonpayment is attached.
Property tax statements are mailed out in October and become delinquent if unpaid by January 31.
Department - A specific functional area within a City division.
Depreciation - The process of estimating and recording the expired useful life of a fixed asset which is used to
distribute its cost over its revenue producing years.
Division - An administrative unit of the City having management responsibility for a group of departments.
Effective Tax Rate - Texas law prescribes a formula for calculating the effective tax rate for cities. The net
effect of the formula is to produce a tax rate that goes down when property values rise (and vice versa) to
generate a rate that produces approximately the same revenue as the year before. The formula makes
adjustments for additional debt service, newly annexed property, and newly constructed property. If the tax rate
is raised by three percent or more over the prior year's effective tax rate, State law requires that special notices
must be posted and published. If the increase is more than 8%, the increase above 8% is subject to a possible
rollback election by the voters.
Employee Benefits - For the purpose of budgeting, this term refers to the City’s costs of health insurance,
pension contributions, social security contributions, workers’ compensation and unemployment insurance costs.
Encumbrance - Any commitment of funds against an appropriation. It may be in the form of a purchase order
or a contract. Encumbrance accounting is formally integrated into the accounting system for expenditure control
purposes. An encumbrance differs from an account payable as follows: an account payable represents a legal
liability to pay and results from the goods and/or services requested in a purchase order or contract having been
delivered to the City. Until such time as the goods and/or services are delivered, the commitment is referred to
as an encumbrance.
Enterprise Fund - A fund established to finance and account for operations (1) that are financed and operated
in a manner similar to private business enterprises - where the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods or services to the general public on a continuing basis be
financed or recovered primarily through user charges; or (2) where the governing body has decided that periodic
determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance,
public policy, management control, accountability, or other purpose.
Executive Limitations - Specific boundaries stated as part of the City’s governance model. The boundaries
serve as the limits within which staff must accomplish the goals and objectives of the City.
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Expenditures - If the accounts are kept on the accrual basis this term designates total charges incurred,
whether paid or unpaid, including expenses, provision for retirement of debt not reported as liability of the
fund from which retired, and capital outlays. If accounts are kept on the cash basis, the term covers only
actual disbursements for these purposes. Encumbrances are not considered expenditures.
Expense - Charges incurred, whether paid or unpaid, for operation, maintenance, and interest, and other
charges which are presumed to benefit the current fiscal period. Legal provisions sometimes make it
necessary to treat as expense charges whose benefits extend over future periods.
Fiscal Year - An accounting period, typically twelve months, to which the annual budget applies and at
the end of which a city determines its financial position and results of operations. The City's fiscal year is
October 1 through September 30.
Fixed Assets - Assets of a long-term character which are intended to continue to be held or used, such
as land, buildings, machinery, furniture and other equipment.
Franchise fees - A fee that a government imposes to permit the continuing use of public property and
right of ways, such as city utility poles, streets, etc.
Full Time Equivalent (FTE) - A part-time position converted to the decimal equivalent of a full-time
position based on 2,080 hours per year, or a full value of one for a full-time position.
Functional Plan - Elements of the Century Plan which describe 15 policy plan categories that detail the
manner in which the Policy Plan will be fulfilled. City Council has adopted to date four Functional Plan
elements: Economic Development Strategic Plan, Development Plan, Parks and Recreation Plan and
Facilities and Services Plan. The preparation and adoption of the Functional Plans, including Land Use,
Transpiration, Utilities, Environmental, Citizen Participation, Housing, Health and Human Services,
Historic Preservation, Airport, Annexation, Urban Design and Capital Improvements, are to be completed
in subsequent years.
Fund - An independent fiscal and accounting entity with a self-balancing set of accounts recording cash
and/or other resources, together with all related liabilities, obligations, reserves, and equities which are
segregated for the purpose of carrying on in accordance with special regulations, restrictions, or
limitations.
Fund Balance - The excess of a fund's assets over its liabilities and reserves.
Funding Source - Identifies the source of revenue to fund appropriations.
General Fund - The fund that is available for any legal authorized purpose and which is therefore used to
account for all revenues and all activities except those required to be accounted for in another fund. Note:
The General Fund is used to finance the ordinary operations of a governmental unit.
Generally Accepted Accounting Principles (GAAP) - The uniform minimum standards and guidelines
for financial accounting and reporting. The primary authoritative body on the application of GAAP to state
and local governments is the Governmental Accounting Standards Board (GASB).
General Obligation Debt - Tax supported bonded debt which is backed by the full faith and credit of the
City.
Geographic Information System (GIS) - A computer system, which transforms geographically-
referenced data into maps and other geographic relationship information.
Georgetown Transportation Enhancement Corporation (GTEC) – This corporation was formed to
promote economic and community development within the City and the State of Texas through the
payment of costs for streets, roads, drainage, and other related transportation system improvements,
including the payment of maintenance and operating expenses associated with such authorized projects.
Grant - A contribution by one governmental unit to another. The contribution is usually made to aid in the
support of a specified function (for example, education), but it is sometimes also for general purposes.
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Index
Accounting ..........................................................................................................................................................76
Advisory Boards & Commissions......................................................................................................................289
Airport................................................................................................................................................................128
Animal Services ................................................................................................................................................150
Annual Operating Plan Preparation ....................................................................................................................15
Automatic Meter Reading (AMR)......................................................................................................................110
Budget Adoption and Management Process.......................................................................................................13
Building Inspections............................................................................................................................................54
Capital Projects & Five Year Plans...................................................................................................................153
City Council.......................................................................................................................................................124
City Manager’s Office........................................................................................................................................126
Code Enforcement..............................................................................................................................................52
Commonly Used Acronyms...............................................................................................................................293
Community Profile...............................................................................................................................................17
Contingency Reserve Requirements Worksheet..............................................................................................268
Convention & Visitors Bureau.............................................................................................................................62
Current Planning.................................................................................................................................................56
Customer Service (Meter Readers-incorporated in Utility Office department)....................................................90
Debt Management & Policy...............................................................................................................................213
Economic Development....................................................................................................................................130
Electric Operations............................................................................................................................................102
Electric Contracts..............................................................................................................................................104
Facilities Maintenance.........................................................................................................................................82
Finance Administration........................................................................................................................................74
Fire Administration..............................................................................................................................................94
Fire Operations ...................................................................................................................................................96
Fiscal and Budgetary Policy..............................................................................................................................241
Fleet Management ..............................................................................................................................................86
Fund Summaries.................................................................................................................................................36
General Government Contracts........................................................................................................................132
General Debt Service (General Obligation Debt)..............................................................................................216
Georgetown Century Plan.....................................................................................................................................1
Georgetown Economic Development Corporation (GEDCO) Budget for Reference Only..............................287
Georgetown Transportation Enhancement Corporation (GTEC) Budget for Reference Only ........................288
GTEC Principal & Interest Requirements – A Blended Component Unit for Reference Only .........................221
Georgetown Utility Systems Administration........................................................................................................99
Glossary ...........................................................................................................................................................294
Human Resources ............................................................................................................................................134
Information Technology.....................................................................................................................................138
Information Technology Capital Replacement..................................................................................................140
Internal Service Premiums................................................................................................................................270
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Home Rule City – A City in which Council is free to enact legislation, adopt budgets, and determine policies,
subject only to the limitations imposed by the Texas Constitution and City Charter.
Impact Fees - Fees assessed to developers to help defray a portion of the costs that naturally result from
increased development. By Texas law, these fees must be used for capital acquisition or debt service relating
to capital projects.
Indicator - A benchmark used to measure performance or workload or compare against a predetermined
standard.
Infrastructure - Roads, bridges, curbs and gutters, streets, sidewalks, drainage systems, lighting systems,
water lines, wastewater lines and other improvements that are installed for the common good.
Interfund Transfer - A movement of cash between funds for the purpose of return on investment or funding
projects and operations.
Internal Service Fund (ISF) - A fund established to finance and account for services and commodities
furnished by a designated department or agency to other departments or agencies within a single governmental
unit or to other governmental units. Amounts expended by the fund are restored thereto, either from operating
earnings or by transfers from other funds, so that the original fund capital is kept intact.
ISF Premiums - Fees charged by one fund to other departments based on replacement costs and usage costs
for vehicles, computers and buildings and administrative fees charged to funds based on service needs.
Modified Accrual Accounting - A basis of accounting in which expenditures are accrued but revenues are
accounted for when it becomes measurable and available.
Operating Budget - This budget, associated with providing on-going services to citizens, includes general
expenditures such as personal services, professional services, maintenance costs, supplies and operating
capital items.
Personnel Expenditures - For the purpose of budgeting, this term refers to all wages and related items:
regular pay, premium pay, longevity pay, social security, life insurance, retirement plan contributions, health
insurance and workers' compensation insurance.
Policy Plan - A part of the Century Plan that provides a general background for the plan and sets the policies
which will guide the City’s actions until the year 2010.
Program - A group of related activities performed by one or more organizational units for the purpose of
accomplishing a function for which the City is responsible.
Projected Actual - An estimate of year ending balances for all accounts used for budgeting purposes.
Property Taxes - Used to describe all revenue received in a period from current taxes and delinquent taxes.
Property taxes are levied on both real and personal property according to the property's valuation and tax rate.
Public Improvement District (PID) - An area where property owners are charged a special levy to defray part
or all of the costs of specific improvements or services that are presumed to be a general benefit to the public
and of special benefit to such properties.
Reservation - A balance of funds that are set aside by policy for a specific purpose or to draw upon for
emergencies (as in contingency reservation).
Revenue - The yield of taxes and other monetary resources that the City collects and receives into the treasury
for public use. For those revenues which are recorded on the accrual basis, this term designates additions to
assets which (1) do not increase any liability; (2) do not represent the recovery of an expenditure; (3) do not
represent contributions of fund capital in enterprise and internal service funds. The same definition applies to
those cases where revenues are recorded on the modified accrual or cash basis, except that additions would
be partially or entirely to cash.
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Revenue Bonds - Bonds of the City which are supported by the revenue generating capacity of the
electric, water and wastewater system.
Service Improvement Program (SIP) Fees - Charges paid, on a per unit cost basis, by a developer for a
portion of the cost of infrastructure improvements such as fire protection, road improvements, electric,
wastewater and water system improvements needed to service a development. Fees are set as part of a
Council approved development agreement.
Special Revenue Fund (SRF) - A fund used to account for the proceeds of specific revenue sources
(other than special assessments, expendable trusts, or for major capital projects) that are legally restricted
to expenditure for specified purposes.
Special Utility District - A legally separate political subdivision under Texas law to provide utility
services.
Sun City Texas - Del E. Webb Corporation (Del Webb) broke ground in May 1995 on a 9,500 home,
5,300 acre active retirement community called Sun City Texas. The City’s development agreement with
Del Webb provides for fire protection, wastewater, water and electric services, and collector and arterial
street improvements, as well as annexation as each phase is started. The City is providing the off-site
improvements with the construction and carrying costs offset by special impact fees, paid by Del Webb,
without cash shortfalls or increases in overall service rates for water and wastewater. The scope of the
project was amended in 2003 to include only 5,000 units.
Surplus - The excess of the assets of a fund over its liabilities; or if the fund has other resources and
obligations; the excess of resources over the obligations. The term should not be used without a properly
descriptive adjective unless its meaning is apparent from the context. See also Fund Balance.
Tax Base - The total value of all real, personal and mineral property in the City as of January 1st of each
year, as certified by the County Appraisal Board. The tax base represents net value after all exemptions.
Tax Levy - The resultant product when the tax rate per one hundred dollars is multiplied by the tax base.
Tax Rate - Total tax rate is set by Council and is made up of two components: debt service and
operations rates. It is the amount levied for each $100 of assessed valuation.
Tax Roll - The official list showing the amount of taxes levied against each taxpayer or property.
Times Coverage Ratio - A calculation of the revenue available divided by the combined debt payment
requirement of the utilities. This ratio is one indication of the City’s ability to pay its revenue debt
obligations.
Transfers In/Out - Amounts transferred from one fund to another to assist in financing the services or
programs for the recipient fund.
Unencumbered Fund Balance - For budget purposes, the unencumbered fund balance is the amount of
undesignated fund balance of a fund available for allocation.
Urban Design - The unique character of Georgetown formed primarily by its man made physical features.
User Charges - The payment of a fee for direct receipt of a public service by the party benefiting from the
service.
Working Capital - For enterprise funds, the excess of current assets over current liabilities. Working
capital of a fund is important because budgeted expenditures of the fund must be provided for from cash
receipts during the year supplemented by working capital carried over from prior years, if any.
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Legal Contract ...................................................................................................................................................142
Long Range Planning..........................................................................................................................................58
Main Street ..........................................................................................................................................................64
Municipal Court....................................................................................................................................................78
Ordinances ........................................................................................................................................................275
Organizational Chart............................................................................................................................................16
Parks....................................................................................................................................................................68
Personnel Summary by Division........................................................................................................................262
Personnel Summary – FTE’s.............................................................................................................................263
Personnel Summary – New Positions Added....................................................................................................264
Police - Administrative Services Bureau............................................................................................................144
Police - Field Operations Bureau.......................................................................................................................146
Police - Support Services Bureau......................................................................................................................148
Priorities and Strategies Linked to the Century Plan.............................................................................................3
Proposed Debt...................................................................................................................................................220
Public Library.......................................................................................................................................................66
Purchasing...........................................................................................................................................................80
Recreation ...........................................................................................................................................................70
Reuse Irrigation .................................................................................................................................................118
Sanitation...........................................................................................................................................................120
Statistical Information ........................................................................................................................................223
Stormwater Drainage.........................................................................................................................................112
Streets ...............................................................................................................................................................110
Systems Engineering.........................................................................................................................................108
Transfers Between Funds..................................................................................................................................269
Transmittal Letter....................................................................................................................................................i
Utility Debt Service ............................................................................................................................................218
Utility Revenue Bond Coverage.........................................................................................................................219
Utility Office..........................................................................................................................................................90
Utility Rate Schedule .........................................................................................................................................272
Water Services - Wastewater ...........................................................................................................................114
Water Services - Water......................................................................................................................................116
Finance and Administration Department
Budget Staff
Micki Rundell, CGFO, Director
Leticia Zavala, CGFO, Acting Controller
Lorie Lankford, CGFO, Accountant III
Jose Lara, Utilities Financial Analyst
Danella Elliott, Administrative Analyst