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City of Saint Anthony <br />Financial Plan <br />PROJECT...............................................An activity or operation created to achieve <br />a specific purpose or objective containing its <br />own budget, revenue source and approved <br />expenditures. <br />RESERVES ............................................ Funds set-aside for unanticipated expenditures <br />or unforeseen emergencies, as well as to have <br />adequate working capital for current operating <br />needs to avoid short-term borrowing. <br />REVENUE........ ........... collected as income to offset <br />operational expenses including property taxes, <br />charges for service, licenses & permits, etc. <br />RISK MANAGEMENT ............................The ways and means used to avoid accidental <br />loss or to reduce its consequences if it does <br />occur. <br />SPECIAL ASSESSMENT.. .... ....... ..A levy made against a property to defray all or <br />part of the cost of a capital improvement or <br />service deemed to benefit that property. <br />SPECIAL REVENUE FUND...................These funds are used to account for a revenue <br />which is restricted for expenditures of a <br />designated purpose. <br />TAX CAPACITY VALUE.. .... ........ _ Is the taxable portion of the market value, <br />which is based on classification rates <br />determined by the type of property tax. <br />TAX INCREMENT FINANCING <br />(TIF) .... .................................................... A financing method where bonds are the <br />anticipated incremental increase in tax revenue <br />resulting from the redevelopment of an area. <br />TAX LEVY..............................................The amount of property taxes levied to finance <br />operations that are not funded by other <br />sources. <br />TAXES .................................................... Compulsory charges levied by a government to <br />finance services performed for the common <br />benefit. <br />.123 <br />