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Powell Bill Funds –

Revenue from state-

shared gasoline tax which is restricted for use on

maintenance of local streets and roads.

Proprietary Funds –

A fund that accounts for

operations that are financed and operated in a

manner similar to private business enterprises.

Operations are financed from charges to users for

services provided. Also referred to as an

Enterprise Fund.

Resources –

Assets that can be used to fund

expenditures such as property taxes, charges for

services, beginning fund balances, or working

capital.

Revenue –

A term used to represent actual or

expected income to a specific fund.

Retirement Healthcare Fund (OPEB)

– A

legal trust fund having been established to

account for the collection of assets to be expended

for medical coverage for retired Morrisville

employees up to the age of Medicare eligibility.

Special Revenue Fund –

Funds that are set

aside to pay for large expenditure items. The

fund provides a means to provide consistent

funding from General Fund without competition

with other community investment projects or

increasing debt.

Standard & Poor’s Corporation –

recognized bond rating agency.

Structurally Balanced Budget –

A balanced

budget that supports financial sustainability for

multiple years into the future.

Surplus

– The amount by which revenues

exceed expenditures.

Tax Base –

The total assessed valuation of real

property within the Town.

Tax Levy –

The product when the tax rate is

multiplied by assessed values.

Tax Rate –

The amount per $100 pf property

valuation that is levied for the support of

government services or activities.

Transfer

– An appropriation to or from another

fund. A transfer is the movement of money from

one fund to another to wholly or partially support

the functions of the receiving fund.

Unencumbered Balance –

The amount of an

appropriation that is neither expended nor

encumbered. It is essentially the amount of

money still available for future purchases.

Unassigned Fund Balance –

That portion of

resources, which at year’s end, exceeded

requirements and has not been assigned to some

future time for a specific project or use. Money in

the unassigned fund balance is not in the Budget

and therefore has not been appropriated for

expenditure. However, those funds are available

for use if the need arises in accordance with Town

Policy.

Workload Measure

– A performance measure

identifying how much or how many products or

services were produced (ex. Number of yard

waste/leaf collection points served).