FY2021 Adopted Budget

FY2021 Adopted Budget Appendices

Glossary of Terms

GRANT - A revenue source, generally awarded based on some established criteria, funding the County Government to provide a specific service or acquire a specific tangible asset. IMPACT FEES - A one-time fee imposed on property developers to recover a portion of the capital cost of new infrastructure such as schools and libraries. INTERNAL SERVICES FUND - A fund, administered by the County to achieve economy of scale and operating efficiencies by grouping like projects and costs. MAINTENANCE OF EFFORT - The state law that requires that county governments demonstrate that local funding remains relatively constant from year to year. MAJOR GOVERNMENTAL FUND ± Fund whose revenues, expenditures, assets, or liabilities (excluding extraordinary items) are at least 10 percent of corresponding totals for all governmental or enterprise funds, and at least 5 percent of the aggregate amount for all governmental and enterprise funds. NON-MAJOR GOVERNMENTAL FUND - Fund whose revenues, expenditures, assets, or liabilities (excluding extraordinary items) are less than 10 percent of corresponding totals for all governmental or enterprise funds, or are less than 5 percent of the aggregate amount for all governmental and enterprise funds. OPERATING BUDGET - The annual budget that supports the daily operations of county agencies. PAY-GO - A fiscal policy in which capital projects are funded with current revenue rather than long-term or bonds. PERFORMANCE INDICATOR - A type of performance measurement that evaluates the success of an organization or a particular activity. POSITION - The budgetary accounting of an employee of County Government included in the adopted or amended budget. Measured in Full Time Equivalents (FTE). PROPERTY TAX - A tax on the value of real or personal property levied by a government, which is paid by the owner of the property. RECORDATION TAX - A tax calculated on the value of recorded mortgages, deeds and other documents which transfer title or create liens on real or personal property. RESERVE - An account established for a particular purpose and is therefore not available for further appropriation or expenditure. REVENUES - Monies received by the County to support its budget and enable the employees to provide service desired by the public. Property taxes, building permits and receipts from State and Federal sources are examples. SPECIAL REVENUE FUND - A fund, administered by the County to collect revenues enacted for a specific purpose. Examples include: Electric Lighting Districts, Impact Fees/School Mitigation, etc.

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