Recommended FY 2022-2024 Operating Budget and CIP

Glossary (continued)

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. RHNA (Regional Housing Needs Allocation) State mandate that quantifies the need for housing within a jurisdiction during specified planning periods. SCRWA The South County Regional Wastewater Authority - handles the disposal of wastewater from Gilroy and Morgan Hill. Special Revenue Fund Separate fund used to account for the proceeds of special revenue sources that are restricted by law (or administrative action) to expenditures for specific purposes. Transit Occupancy Tax (TOT) Tax on persons staying 30 days or less in a hotel, inn, motel, tourist home, non-membership campground, or other lodging facility. Morgan Hill Tourism Business Improvement District (MHTBID) The assessments levied for the MHTBID shall be applied toward sales and marketing programs and sports facility management to market assessed lodging businesses in Morgan Hill as tourist, meeting, and event destinations. The annual assessment rate is one and a one-half of one percent (1.5%) of gross short-term room rental revenue. Based on the benefit received, assessments will not be collected on: stays of more than thirty (30) consecutive days; stays by any officer or employee of a foreign government who is exempt by reason of express provision of federal law or international treaty; and stays pursuant to contracts executed prior to December 31, 2018.

UI Unemployment Insurance

User Charges The payment of a fee for direct receipt of a public service by the party benefiting from the service.

Year-End This term means as of June 30th (end of fiscal year)

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