Glossary RI7HUPV
Ad Valorem Taxes:
Real estate property taxes collected by the ounty. These revenues are ŽƌŐĂŶŝnjĞĚ in the General Fund for general municipal operations, the Library Fund for general library operations, ƚŚĞ>ŝďƌĂƌLJ ŵƉůŽLJĞĞĞŶĞĨŝƚƐ&ƵŶĚĨŽƌ ůŝďƌĂƌLJĨƵůůͲƚŝŵĞĞŵƉůŽLJĞĞďĞŶĞĨŝƚƐ͕ and the Debt, Bond, and Interest Fund for municipal debt payments. This tax is remitted by merchants to the state on the sales of packaged alcohol, beer, and wine. Funds are allocated based on population state- wide and distributed quarterly. ϭͬϮ is deposited in the Special Parks Fund and ϭͬϮ is deposited in the Special Parks and Recreation Fund for improvements to City park land.
Alcohol Tax:
Appropriation:
The official act of authorizing a budget or part of a budget.
Capital Projects Fund:
A distinct fund of City accounts that is dedicated to capital improvement projects, including debt service for capital improvements. The county sales tax provides the ŵĂũŽƌŝƚLJŽĨ revenue for this fund.
Capital Reserve Fund:
This fund provides reserve funding for any capital work. Funding is provided by special receipts and transfers from other funds.
Debt Service Charge:
A monthly surcharge on all municipal utility accounts to assist in covering the debt payments on utility infrastructure improvements.
Debt, Bond & Interest Fund:
This fund covers the payment of general obligation debt, lease payments for City vehicles and equipment and the City's commitment to inter-local agreements with Leavenworth County. Ad-valorem taxes ĂŶĚƚƌĂŶƐĨĞƌƐ provide the revenue for this fund. This is a distinct fund of City accounts that consolidate Ě the employer’s payment share of insurance benefits, payroll taxes, and workman's compensation payments. Effective FY 2014, the Employee Benefits Fund is defunded and all employee benefits are paid from the General Fund in the respective department where salaries are paid. In formal budgetary terms, to estimate refers to the amount of anticipated revenue in any part of the budget. The expenditure budget is appropriated based on estimated revenue.
Employee Benefits Fund:
Estimate:
Page 45 of 50
Made with FlippingBook flipbook maker