FY 2018-19 and 2019-20 Adopted Operating and CIP Budget

Glossary (continued)

Property Taxes - Unsecured Taxes on property for which the value of the lien is not sufficient to assure payment of the tax.

Proposition 4 The Gann Initiative – limits growth in government spending to changes in population and inflation. Proposition 111 State measure (1990) increasing gasoline and diesel fuel tax rates by 9 cents per gallon over a five- year period. Since 1994 this tax has been assessed at 18 cents per gallon. Reappropriation A governing body action that transfers spending authority from a completed fiscal year to the subsequent spending plan. Redevelopment Agency (RDA) No longer in place; was dedicated to improving the quality of life in Morgan Hill. The Agency worked to remove blight and breathe new life into deteriorated areas of the city. The Agency was responsible for many of the improvements to the city’s infrastructure (street and sewer improvements), renewal of the Downtown area, construction of community facilities, affordable housing, and economic development. Resources Total dollars available for appropriations including estimated revenues, fund transfers, and beginning fund balances. Revenues Total dollars received from taxes, fees, permits, licenses, interest, and intergovernmental sources including grants within the fiscal year. Revenue Bonds Bonds which pledge one specific revenue source to repayment. In addition to a pledge of revenues, such bonds sometimes may be secured by a lien against property. Revenue Estimate A formal estimate of how much revenue will be earned from a specific revenue source for some future period; typically, a future fiscal year. SCRWA The South County Regional Wastewater Authority - handles the disposal of wastewater from Gilroy and Morgan Hill. Reserves An account used to indicate that a portion of fund equity is legally restricted for a specific purpose.

GENERAL INFORMATION 69