WASHINGTON COUNTY APPROVED BUDGET
FY 2026
Cash Basis of Accounting :
A basis of accounting in which transactions are recognized only when cash is increased or decreased.
Constant Yield Tax Rate :
A rate which, when applied to the coming year’s assessable base, exclusive of the estimated assessed value of property appearing on the tax rolls for the first time (new construction), will produce tax revenue equal to that produced in the current tax year. When a taxing authority plans to impose a Real Property Tax Rate that is higher than the current year ’ s Real Property Tax Rate, it must advertise the tax rate increase and hold a public hearing. The Constant Yield Tax Rate is no longer part of this determination. If the taxing authority plans to set a Real Property Tax Rate that is equal to or less than the current year ’ s Real Property Tax Rate, then the statute does not require a notice or a hearing.
Contingency Reserve:
A budgetary reserve set aside for emergencies or unforeseen expenditures not otherwise budgeted.
Debt Service:
The annual requirement to finance the County’s outstanding indebtedness. It includes both the periodic payment of interest and the redemption of principal. The expiration of the useful life of a fixed asset over a determined period of time attributable to wear and tear, deterioration, action of the physical elements, inadequacy, and obsolescence. Also, the portion of the cost of a fixed asset charged as an expense during a particular period. The major organizational unit in Washington County. Departments, offices, and other names organizational units report up to a division. Obligations in the form of purchase orders, contracts, or other commitments, which are chargeable to an appropriation and for which a part of the appropriation is reserved. They cease to be encumbrances when the obligations are paid or otherwise extinguished. A fund used to record the fiscal transactions of government activities financed and operated in a manner similar to private enterprise, with the intent that the costs of providing goods and services, including financing, are wholly recovered through charges to consumers or users.
Depreciation :
Division:
Encumbrances:
Enterprise Fund :
2026 Budget Document
270
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