HomeMy WebLinkAbout17 - Glossary/IndexGLOSSARY / INDEX
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.
Annual Operating Plan - The Century Plan
requires the preparation and adoption of an annual
operating plan, or budget, that focuses on the Policies,
Ends and Means 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.
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ANNUAL OPERATING PLAN ELEMENT 1998/99
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.
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 4
Georgetown's budget is called the Annual Operating
Plan.
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
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period. The program is a guide for identifying current
and future fiscal year requirements and becomes the
basis for determinig the annual capital budget.
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.
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
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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 1.50.
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.
Del E. Webb Corporation (Del Webb) - see
Sun City Georgetown.
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
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ANNUAL OPERATING PLAN ELEMENT 1998/99
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.
End - Part of the "Ends and Mean's" concept adopted
by the City Council to represent an improved way to
manage the City. Ends are specific targets based upon
the 13 policies found in the Century Plan - Policy
Plan. There is at least one end for each policy area.
These statements allow the City organization to focus
first on a finalrp oduct such as "a dynamic and positive
business climate" rather than on therp ocess of making
that product, such as maintaining sewer lines, planning
downtown improvements and keeping emergency
service response times low.
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
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ANNUAL OPERATING PLAN ELEMENT 1998/99
appropriate for capital maintenance, public policy,
management control, accountability, or other purpose.
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 expenses 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.
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.
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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.
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.
Infrastructure - The assets that are immovable and
of value only to the government unit such as streets,
bridges, sidewalks, and the electric, water, wastewater
and drainage systems, which are installed for the
common good.
Internal Service Fund - 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
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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.
Means - The method, or process, by which the City
Manager and the City of Georgetown organization
plans to achieve the Ends specified by the City
Council. By allowing City staff to focus on the means
of the issue, the City Council is freed to discuss and
define the long term direction of the City, its ends.
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, ends and means 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.
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 the tax rate.
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ANNUAL OPERATING PLAN ELEMENT 1998/99
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 revenue
are recorded on the modified accrual or cash basis,
except that additions would be partially or entirely to
cash.
Revenue Bonds - Bonds of the City which are
supported by the revenue generating capacity of the
water and wastewater system.
Service Improvement Program (SIP) Fees -
Charges paid, on a per unit cost basis, by a developer
(currently Del Webb Corporation only) 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 - 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.
Sun City Georgetown - 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 Georgetown. 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. Sun City Georgetown had 1,331
occupied homes as of August 1, 1998.
Surplus - The excess of the assets of a fund over its
liabilities; or if the fund has other resources and
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ANNUAL OPERATING PLAN ELEMENT 1998/99
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 1 st 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.
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.
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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Accounting.......................................................................... 130
Advisory Boards & Commissions......................................................... 312
Airport.............................................................................. 100
Animal Services...................................................................... 102
Annual Operating Plan Preparation.......................................................... 8
Budget & Financial Policies.............................................................. 293
Capital Projects & Five Year Plan ......................................................... 225
CityCouncil.......................................................................... 176
City Manager's Office.................................................................. 178
Community Owned Utilities Administration.................................................. 66
Community Profile...................................................................... 16
Community Services Administration........................................................ 94
Contingency Reserve Requirements Worksheet ................................................ 308
Convention & Visitors Bureau............................................................ 104
Councilmembers(photos)................................................................ xii
Customer Service (Meter Readers -incorporated in Utility Office department) ....................... 148
Debt Management & Policy.............................................................. 249
Development Process Team.............................................................. 118
Development Support ................................................................... 120
Electric.............................................................................. 68
Employee & Organizational Services...................................................... 182
Ends & Means - Community Owned Utilities ................................................. 60
Ends & Means - Community Services....................................................... 91
Ends & Means - Development Services ..................................................... 115
Ends & Means - Finance & Administration.................................................. 127
Ends & Means - Fire Services............................................................ 152
Ends & Means - Information Resources .................................................... 162
Ends & Means - List of Ends............................................................... 3
Ends & Means- Management Services ..................................................... 170
Ends & Means - Parks, Library & Recreation ................................................. 190
Ends & Means -Police Services.......................................................... 209
Facilities Maintenance.................................................................. 134
Finance Administration................................................................. 132
Fire Administration.................................................................... 154
Fire Operations........................................................................ 156
Fire Prevention & Community Analysis .................................................... 158
Fleet Management..................................................................... 138
Fund Summaries........................................................................ 40
General Government Contracts............................................................ 98
General Debt Service (General Obligation Debt) .............................................. 251
Georgetown Century Plan ................................................................. 1
Glossary............................................................................ 315
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320 ANNUAL OPERATING PLAN ELEMENT 1998/99
Human Resources ................................... (See Employee & Organizational Services)
Information Resources Operations......................................................... 164
Information Resources Capital Replacement ................................................. 166
Inspection Services.................................................................... 122
Internal Service Premiums............................................................... 283
Legal Services........................................................................ 180
Municipal Court ....................................................................... 144
Ordinances........................................................................... 284
Organization........................................................................... 9
Parks............................................................................... 194
Patrol Services........................................................................ 220
Personnel........................................................................... 259
Police Administration.................................................................. 212
Police Information Management.......................................................... 218
Professional Standards.................................................................. 222
Programs, Projects & Equipment.......................................................... 265
ProposedDebt........................................................................ 256
Public Library ........................................................................ 198
Pump Maintenance..................................................................... 72
Purchasing & Properties................................................................ 146
Recreation........................................................................... 202
Safety Services........................................................................ 186
Sanitation........................................................................... 108
Special Operations..................................................................... 216
Stormwater Drainage.................................................................... 76
Streets............................................................................... 78
Systems Engineering.................................................................... 74
Transfers Between Funds............................................................... 281
TransmittalLetter........................................................................i
Utility Debt Service.................................................................... 254
Utility Office......................................................................... 148
Utility Rates Schedule.................................................................. 309
Water Distribution...................................................................... 80
- Water Treatment Facilities................................................................ 84
_ Water Contracts........................................................................ 83
Wastewater Collection................................................................... 84
- Wastewater Treatment Facilities........................................................... 86
Wastewater Contracts................................................................... 87
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CITY OF GEORGETOWN
The following awards attest to the recognized excellence of the various operations of the government.
1998 1995 (cont)
Government Finance Officers Association Police Executive Research Forum
Distinguished Budget Presentation Award for the City's Annual Operating Herman Goldstein Excellence in Problem Solving Award
Plan and Program of Services for the Fiscal Years 1990 through 1998
(Nine consecutive years) Sam Walton Community Leader Award
American Hometown Leadership Award to Mayor Leo Wood
Texas Recreation and Parks Society
Gold Medal Award for Outstanding Accomplishments in Parks and
Recreation Services, Facilities and Park Development
U.S. Environmental Protection Agency - Region P7
Regional Administrators Environmental Excellence Award for Public
Water Supply Excellence in Operation & Management in the 113 Category
-3,300 - 50,000 population served. (This award was also received in 1990)
1997
3 CMA
Award for Excellence - On Line Information Services for Cities &
Counties over 200,000 (Joint effort with Williamson County)
Government Finance Officers Association
Certificate of Achievement for Excellence in Financial Reporting -
Comprehensive Annual Financial Report for Fiscal Years 1987 through
1997 (11 consecutive years)
National Trust for Historic Preservation & the Edward Jones Co.
Great American Main Street Award
Quality Texas
Texas Quality Award recognition for Participation & Achievement in
Quality (Police Services)
Texas Public Power Association
Award for "Overall Customer Service" - Georgetown Utility Office
1996
Environmental Protection Agency National Second Place Award
Operations & Maintenance - Berry Creek Wastewater Treatment Plant
National Recreation & Parks Association
Gold Medal Award Finalist
Sam Walton Community Leader Award
American Hometown Leadership Award to Mayor Pro Tem - Ferd Tonn
TX Natural Resource Conservation Commission Pinnacle Award
Operation & Maintenance Award - Small - Non -Discharging Plant -
Berry Creek Wastewater Treatment Plant
Texas Public Power Association
Electric System Achievement Award
1995
3 CMA
Silver Circle Award - Marketing Communications Plan for Cities
Under 25,000
American Planning Association
Outstanding Planning Award for Comprehensive Planning in a Small
Jurisdiction for the Georgetown Century Plan
Associated Texans Against Crime
Outstanding Law Enforcement Award
Texas Public Power Association
"Best Newsletter" for City with less than 50,000 customers
Texas Water Utilities Association
Best Tasting Water - Surface Water (Three consecutive years)
1993
Association of Wholesale Customers of the LCRA
Distinguished Service Award
Lower Colorado RiverAuthority
Environmental Award - Energy Conservation
Lower Colorado River Authority
Environmental Award for Recycling Programs at the Georgetown Public
Collection Station
Texas Chapter of American Planning Association
Community of the Year
Texas Department of Housing and Community Affairs
Award for Affordable Housing & Community Partnerships
Texas Department of Transportation, Division of Aviation
Airport Manager of the Year for the State of Texas
Texas Natural Resource Conservation Commission
Clean City 2000 - Governor's Award for Environmental Excellence
Teras Recreation and Parks Society
Gold Medal Award for Outstanding Accomplishments in Parks and
Recreation Services, Facilities and Park Development
Texas Water Commission
Operation and Maintenance Excellence Award for best wastewater
treatment system of its size in Texas
U.S. Environmental Protection Agency - Region VI
Administrators Environmental Excellence Award in five state region -
Wastewater
1992
Association of Wholesale Customers oflhe LCRA
System Achievement Award for Outstanding Electric Utility
Texas Downtown Association
Best Rehabilitation Project for renovation of the 1930's Post Office
(Municipal Office Building)
Texas Historical Foundation
Citation of Merit for renovation of the Municipal Office Building
Texas Water Commission
Operation and Maintenance Excellence Award for best wastewater
treatment system of its size in Texas
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