What is the difference between the amount of appropriations for the budget year and the anticipated revenues known as?

The difference between the amount of appropriations for the budget year and the anticipated revenues is referred to as the amount to be raised for taxation. This concept is essential in municipal budgeting because it reflects the funds that need to be generated through taxes to cover the expenses outlined in the budget. When appropriations exceed anticipated revenues, the shortfall represents what the municipality needs to collect in taxes to ensure that government services and operations can continue without interruption.

Understanding this difference helps stakeholders, including policymakers and citizens, grasp the financial health of the municipality. If the appropriations are significantly higher than revenues, it signals a need for increased taxation or finding alternative funding sources, which is crucial for maintaining fiscal responsibility and transparency in local government operations.