FY2023 Adopted Operating and Capital Budget

FY2023 Adopted Budget Appendices

Glossary of Terms

O OPERATING (Expense Category) ± A classification in the budget software that groups similar accounts. Operating includes all accounts not otherwise categorized as personnel, capital, or recoveries. OPERATING BUDGET The annual budget that supports the daily operations of county agencies. P PAYMENT IN LIEU OF TAXES (PILOT) ± A payment made to the county to compensate for property tax otherwise ³ORVW´ GXH WR RZQHU H[HPSWLRQ RU RWKHU QHJRWLDWHG DUUDQJHPHQWV . PAY GO A fiscal policy in which capital projects are funded with current revenue (cash) rather than bonds or other long term financial instruments. PERFORMANCE INDICATOR A type of performance measurement that evaluates the success of an organization or a particular activity. PERSONNEL (Expense Category) ± A classification in the budget software that groups similar accounts. Personnel includes all salary and benefit accounts 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. R 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. RECOVERIES (Expense Category) ± A classification in the budget software that groups similar accounts. Recoveries are W\SLFDOO\ UHGXFH H[SHQVHV VLQFH WKH FRXQW\ ³UHFRYHUV´ WKH FRVW RI DQRWKHU H[SHQVH FDWHJRU\ 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 services desired by the public. Property taxes, building permits and receipts from State and Federal sources are examples. S 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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