FYE 14 Budget prelim - City of Norman

CITY OF NORMANTAXES - Compulsory charges levied by a government for the purpose of financing services performedfor the common benefit.TIP – Transportation Improvement PlanTMA – Traffic Management AreaTMDL (Total Maximum Daily Load) – The amount of pollutants, from natural and man-made sources,which can be discharged to a specific body of water without causing harm to the water’s quality or aquaticlife. Any pollutant loading above the TMDL results in violation of applicable water quality standards.TSS – Total suspended solidsTTD – Trial Total Disability (payments)USE TAX – A tax levied by the City of Norman on out-of-state purchases of tangible personal propertythat is stored, used or otherwise consumed within the State of Oklahoma by the purchaser.WTP – Water Treatment PlantWWTP – Wastewater Treatment PlantWASTEWATER TREATMENT PLANT INVESTMENT FEE (WWTPIF) – A source of revenue tooffset the cost of improvements made to the Norman Wastewater Treatment Plant in 2000. The WWTPIFis the Norman Wastewater Utility’s version of an impact fee that was authorized by Ordinance 9697-2 onJuly 23, 1996. The WWTPIF is a one-time charge paid at the time new homes or businesses are permittedfor connection to the sewerage system. The WWTPIF will expire at the point that sufficient funds havebeen generated to pay the portion of the costs of the improvements attributable to new development($6,192,039).ZERO-BASED BUDGETING – The process of preparing an operating plan or budget that starts with noauthorized funds. Each activity to be funded must be justified every time a new budget is prepared.ANNUAL BUDGET443