FY 18 Annual Report

Revenue: Sources of income financing the operations of government. Revenue Bond: This type of bond is backed only by the revenues from a specific enterprise or project, such as a sewer utility. Rollack: The amount of reduction between the 100% property vaule and teh taxable value, (minue any tax credits). The Rollback amount is calucalted by the State of Iowa and is applied to Residential, Agricultural, Commerical, and Industrial classes of property. Special Assessment: A compulsory levy made against certain properties to defray part or all of the cost of a specific improvement or service deemed to primarily benefit those properties. Special Assessment Account: An account within the Debt Service Fund which for budgeting purposes is used to account for the financing of public improvements or services deemed to benefit primarily the properties against which special assessments are levied. Special Revenue Funds: These funds account fro proceeds from specific sources (other than those accounted for within capital projects funds) that are usually required by law or regulation to be accounted for in separate funds and to be expended for specific purposes. Taxes: Compulsory charges levied by a government for the purpose of financing services performed for the common benefit of the people. This term does not include specific charge made against particular persons or property for current or permanent benefit, such as special assessments. Tax Increments: These revenues refer to the amount of resources cities generate when they establish tax increment financing (TIF) districts. In a TIF district, the increase in property tax revenues in the redeveloped area are used to pay the costs of development and redevelopment in the district rather then the general services of the city, county, and school district. Transfers In/Out: Amounts transferred from one fund to another to assist in financing the services for the recipient fund. User Charges (Fees): The payment of a fee for direct receipt of a public service by the party who benefits from the service.

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