Pre-launch preview — not yet public. Figures shown are the adopted 2026 budget. The 2027 budget is a working draft (proposed, not adopted) — see the 2027 Draft.
City Budget & Financial Transparency See how your tax dollars are budgeted and spent

In plain language

Budget Glossary

Government budgets are full of jargon. Here's what the most common terms actually mean — in everyday words, with examples.

Property Tax

Ad valorem tax
Latin for 'according to value' — another name for property tax, because it's based on the value of the property.
Assessed valuation (citywide)
The total assessed value of all taxable property in the city added together. The mill levy is applied to this number to figure out how much property-tax revenue the city raises.
Assessed value
The portion of a property's market value that is actually taxed. In Kansas, homes are assessed at 11.5% of market value and most commercial property at 25%. A $200,000 home has an assessed value of about $23,000.
Mill levy
The property tax rate, expressed in 'mills.' One mill is $1 of tax for every $1,000 of a property's assessed value. If the mill levy is 40, a property assessed at $20,000 owes $800 in city property tax.

How the Budget Is Organized

Enterprise (proprietary) fund
A fund that operates like a business and is paid for by user fees rather than taxes — for example, the Water and Sewer funds, which are funded by utility bills.
Fund
A separate 'pot' of money set aside for a specific purpose, with its own revenues and expenses. Cities use fund accounting so that, for example, water-bill money can only be spent on the water system.
General Fund
The city's main operating fund. It pays for services that don't have their own dedicated funding source, such as general administration, parks, and public safety.
Governmental fund
A fund that pays for traditional government services and is supported mainly by taxes and intergovernmental money, rather than by fees for a specific service.

Money In & Out

Expenditure
Money going out — what the city actually spends on salaries, services, supplies, equipment, and debt payments.
Franchise fee
A fee that utility companies (electric, gas, cable, phone) pay the city for the right to run their lines through public rights-of-way. It usually shows up as a small line item on your utility bill.
Intergovernmental revenue
Money the city receives from another level of government — for example, the city's share of the state motor-fuel (gas) tax, or state and federal grants.
Revenue
Money coming in — taxes, fees, fines, grants, and charges for services such as water.

Spending & Debt

Bond
A way cities borrow money for big projects, repaid with interest over many years — similar to a mortgage for a major purchase.
Capital improvement
A large, long-lasting purchase or project — a building, major equipment, or infrastructure — as opposed to routine day-to-day operating costs.
Cash carryover / fund balance
Money left in a fund at the end of the year that carries into the next. A healthy carryover is the city's savings cushion for emergencies and cash flow.
Debt service
The scheduled payments of principal and interest the city makes on money it has borrowed. The Bond & Interest Fund is dedicated to these payments.

The Budget Process

Adopted budget
The final budget after the Governing Body has voted to approve it. It becomes the city's official spending plan for the year and is certified to the county.
Notice of Budget Hearing
A legally required public notice, published in the newspaper, that announces the proposed budget and the date of the public hearing where residents can comment.
Don't see a term you ran into? Ask us and we'll define it here.