FY2023-FY2028 Adopted Capital Improvement Program

FY2023 Adopted Budget Capital Improvement Program Appendices

Glossary of Terms

ENTERPRISE FUND A fund established to account for the financing of certain self supporting services provided by the County government. The services generate their own revenues from fees, charges and other receipts. EXPENDITURE The cost of goods delivered or services rendered. F FISCAL YEAR (FY) A twelve month period of time to which the annual operating and capital budgets apply. Frederick County s fiscal year begins July 1 and ends the following June 30th. FUND A separate budget/accounting grouping with its own revenues and appropriations. The general fund, for example, covers most of the daily operations of the County Divisions and is funded by a variety of taxes and other revenues. FUND BALANCE The residual amount of annual revenues recorded in excess of expenses. G GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) A common set of accounting conventions, standards and procedures followed when preparing financial statements. GENERAL FUND The primary fund which supports most general government functions in Frederick County. GENERAL GOVERNMENT The function of government comprised of the central administrative offices such as: Finance, Human Resources, Citizens Services, Public Works, etc. 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. I 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. O OPERATING BUDGET The annual budget that supports the daily operations of county agencies. P PAY GO A fiscal policy in which capital projects are funded with current revenue (cash) rather than long term or bonds. 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. 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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