Refuse Fund – Rates charged by the City cover operations and maintenance costs associated with refuse service and street sweeping.
Reserve – A portion of fund equity legally restricted for a specific purpose or not available for appropriation and subsequent spending. It is normally set aside in funds for emergencies or unforeseen expenditures that are not otherwise budgeted.
Resolution – A legislative enactment that has less legal formality than an ordinance and has a lower legal status.
Resources – Total amounts available for appropriation including estimated revenues, fund transfers, and beginning balances.
Revenue – Money received from taxes, fees, permits, licenses, interest, intergovernmental sources, and other sources.
Risk Management Fund – Provides a self-funded program for general liability and workers’ compensation insurance.
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Service – A specific deliverable provided to the public. It has a specific budget, as well as performance measures to determine the benefits received. A service is ultimately aligned to one of the Council’s seven goals.
Service Level Indicators – The service level indicators describe in specific and measurable terms the results a program (within a particular division) is expected to achieve within a given time frame. Service level indicators are derived from the action plan.
Significant Budget Changes – A significant budget change represents a major departure from historical practice or treatment of a program or line item within a department’s budget. 405
Glossary continued
Special Assessments – Compulsory charges levied by a government to finance current or permanent public services to a particular group of persons or properties.
Special Revenue Fund – An accounting entity to record revenue that is legally destined for a specific purpose and the expenditure of the dedicated revenue.
Sphere Of Influence (SOI) – A plan, adopted by Kern Local Agency Formation Commission (LAFCo), for the probable physical boundaries and service area of the City.
Successor Agency – The entity, designated as the City of Bakersfield, responsible for appointing members to the Oversight Board for the wind down and close out functions of the former City Redevelopment Agency, as defined under State Assembly Bill 26. - T -
Tax Increment Financing – Use of taxes collected within a specifically designated area for repayment of tax increment debt and major infrastructure expenditures.
Taxes – Compulsory assessments levied by a government for the purpose of financing services performed for the common benefit of the citizens. Taxes do not include specific charges made against particular persons or property for current or permanent benefit, such as special assessments.
Generally, includes property taxes, sales taxes, franchise taxes, business license taxes, real property transfer taxes, and transient occupancy taxes.
Transient Occupancy Tax – Used to account for Transient Occupancy Tax Revenues (Hotel Tax) and expenditures funded by this revenue source.
Transportation Development Fund – Used to account for funds collected from fees paid to mitigate the traffic impacts to the regional circulation system caused by a development project.
The fees are paid when a building permit for the development project is obtained and are based upon the amount of traffic the development will generate.
Trust Fund – Used when the City is custodian of money to be reserved and spent for a special purpose.
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Unencumbered Balance – The amount of an appropriation that is neither expended nor encumbered. It is essentially the amount of money still available for future purposes.
Unreserved Fund Balance – The portion of a fund’s balance that is not restricted for a specific purpose and is available for general appropriation.
User Charges/Fees – These represent payment for services which would not be provided to the individual if the charge were not paid.
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