Definitions & Information
Ad Valorem Taxes
Commonly referred to as property taxes, ad valorem taxes are those taxes which are levied on real and personal property at 100% valuation according to the property's valuation and the tax rate.
Capital Projects Fund
Capital projects funds are established to account for all resources, bond proceeds, and construction grants, which are used for the acquisition of capital facilities.
Conflict of Interest Questionnaire
Conflict of Interest Questionnaire is a form for vendors or other persons doing business with local government entity as required per Local Government Code Chapter 176 enacted pursuant to HB914 and adopted by the Texas Ethics Commission.
Debt Service Fund
A debt service fund is a fund established to finance and account for the accumulation of resources for, and the payment of, general long-term debt principal and interest. Also called a SINKING FUND.
Fines and Forfeitures
Fines and forfeitures are revenues received by the city from the Municipal Court for Class C misdemeanor violations and city ordinance violations.
Franchise fees are revenues collected from utility companies for the privilege of continued use of the city's right of ways according to various franchise agreements.
The general fund is the fund that is available for any legal authorized purpose and 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.
A grant is a contribution by one governmental unit to another. The contribution is usually made to aid in the support of a specified function.
intergovernmental revenues are grants, entitlements, and cost reimbursements from other federal, state, or local governments.
Licenses & Permits
These revenues include fees charged by the city for business licenses and permits for general construction. Fees are charged for city inspections of electrical, plumbing, mechanical installations, health permits, and housing code inspections.
The term other revenues refers to miscellaneous revenues consisting primarily of interest revenue from the investment of city funds, recreational classes, league fees, and other recreational revenues, and police / fire alarm permits and false alarm fees.
The term other taxes refers to sales use taxes generated from purchases made within our city boundaries.
General property taxes are assessed on real and personal property as of January 1 of each year.
Special Revenue Fund
A special revenue fund is a fund used to account for the proceeds of specific revenue sources that are legally restricted to expenditure for specified purposes.