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. City of Saint Anthon.: - 48 Financial Plan PROJECT...............................................An activity or operation created to achieve a specific purpose or objective containing its • own budget, revenue source and approved expenditures. RESERVES............................................Funds set-aside for unanticipated-expenditures or unforeseen emergencies; as well as to have adequate working capital for current operating needs to avoid short-term borrowing. REVENUE..............................................Funds collected as income to offset operational expenses including property taxes, charges for service, licenses & permits, etc. RISK MANAGEMENT............................The ways and means used to avoid accidental loss or to reduce its consequences if it does occur. SPECIAL ASSESSMENT ......................A levy made against a property to defray all or part of the cost of a capital improvement or service deemed to benefit that property. SPECIAL REVENUE FUND...................These funds are used to account for a revenue • which is restricted for expenditures of a designated purpose. TAX CAPACITY VALUE........................Is the taxable portion of the market value, which is based on classification rates determined by the type of property tax. TAX INCREMENT FINANCING - (TIF)........................................................A financing method where bonds are the anticipated incremental increase in tax revenue resulting from the redevelopment of an area. TAX LEVY..............................................The amount of property taxes levied to finance operations that are not funded by other sources. TAXES....................................................Compulsory charges levied by a government to finance services performed for the common benefit. • iv