FY2026 Operating and Capital Budgets

FY2026 Proposed 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. OTHER FINANCING SOURCES – Other sources of revenue, including transfers from other funds, sales of capital assets, insurance proceeds, and bond issue proceeds. P PAYMENT IN LIEU OF TAXES (PILOT) – A payment made to the county to compensate for property tax otherwise “lost” due to owner exemption or other negotiated arrangements. 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. PROPRIETARY FUND - A fund established to account for business-like activities provided by the County government. These types of funds are usually self-supporting and generate their own revenues from fees, charges and other receipts. 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 typically reduce expenses since the county “recovers” the cost of another expense category. 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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