FY2021 Adopted Budget

FY2021 Adopted Budget Fund Budgets

Parks Acquisition/Development

Parks Acquisition/Development This fund records the collections of recordation taxes dedicated to the acquisition and development of recreational and open space land. Funds are then transferred to the Capital Projects Fund or the Debt Service Fund to assist in this goal. Bill No. 17-02 which became effective May 20, 2017 sets aside 12.5% of the County's recordation tax revenue for use in funding the County's acquisition and development of recreational and open space land. Budget Highlights The FY21 Budget is higher in other financing uses than the FY20 Adopted Budget due to issuance of new bonds and a large park project being financed with fund balance. Effective October 1, 2020, the recordation tax will increase from $6/$500 of consideration to $7/$500 of consideration. The $1 increase is dedicated to other programs. This will effectively decrease the percentage dedicated to this fund from 12.5% to 10.71% but does not affect the overall budgeted revenue to the fund. If applicable, all personnel budgets have been updated to reflect changes in salaries and benefits based on contracts, individual benefit elections, tax laws, minimum wage requirements, etc.

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