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Debt Service Fund
A fund established to account for the accumulation of resources
for, and the payment of, general long-term debt principal
and interest.
Deficit
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The excess of the
liabilities of a fund over its assets.
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The excess of expenditures
over revenues during an accounting period; or, in the
case of proprietary funds, the excess of expense over
income during an accounting period.
Department
A major administrative division of Metro reflecting overall
management responsibility for an operation or a group of related
operations within a functional area. Identities the highest
level in the formal Metro organization in which a specific
activity is carried out. For budgetary purposes, the word
"department" includes boards, commissions, agencies, and elected
offices.
District
 An
area of the county that receives certain services and pays
a property tax rate related to those services. The General
Services District (GSD) is all of Davidson County, and receives
county-wide services. The Urban Services District (USD) is
the former City of Nashville plus annexed areas; it is an
area within and overlapping part of the GSD. In the illustrationat
right, the USD is the shaded area within the GSD.
Encumbrances
The commitment of appropriated funds to purchase an item or
service. To encumber funds means to set aside or commit funds
for a future expenditure.
Enterprise Fund
A fund established to account for operations that are financed
and operated in such a way that the costs of providing goods
or services to the general public on a continuing basis is
financed or recovered primarily through user charges. Examples
in Metro are the Convention Center Fund and the Farmers' Market
Fund.
Estimated Revenue
The amount of projected revenue to be collected during the
fiscal year.
Expenditures
Decreases in net financial resources. Expenditures include
current operating expenses that require the current or future
use of net current assets, debt service, and capital outlays.
This term designates the cost of goods delivered or services
rendered, whether paid or unpaid, including expenses, provision
for debt retirement not reported as a liability of the fund
from which retired, and capital outlays. See also "Encumbrances".
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