OPERATIONAL OVERVIEW
FY 2026
Comprehensive Fiscal Policies
T he summaries of the County’s fiscal policies below provide guidelines and goals that influence and guide the financial management practices of the County and are the cornerstone of sound financial management. By adhering to both short and long-term policies, the County will achieve fundamentally sound financial objectives of a successful organization. The following represents a summary of the County’s fiscal policies, which require an annual review.
OPERATING POLICIES:
1. The County will maintain timely collection systems and take a proactive approach in the collection of those accounts. 2. Revenues will be monitored regularly and compared to established trends to ensure collections are consistent with those trends. 3. The County shall strive to maintain a diversified and stable revenue structure to shelter it from short-term fluctuations in any one revenue source.
4. The County will prepare multi-year projections of revenues and other sources.
5. The County shall attempt to optimize all appropriate revenue sources to achieve an effective mix of revenues and shall strive to seek new sources of revenue to broaden its revenue base. 6. The County will periodically recalculate the full cost of activities currently supported by user fees and charges to identify the impact of inflation and other cost increases. 7. The County will attempt to set fees and user charges for each enterprise fund at a level that fully supports the total direct and indirect costs of operations and debt service.
8. The County will prepare annually a five-year forecast summary budget.
9. The County will adopt a balanced budget, by fund, for all funds maintained by the County using current revenue sources which could include reserve funds under the guidelines of the reserve policy.
10. Non-recurring revenue will be used for non-recurring expenditures or reserves only.
11. The County will depreciate all capital assets over the capitalization threshold of $10,000 with a useful life of five years or more on a straight-line basis. 12. The County maintains control over assets that are not considered capital assets and classifies them as controllable assets since they fall under the capitalization limit of $10,000. 13. Physical inventories are required on consumable inventories in excess of $5,000 and all merchandising inventories. 14. The County has an identity theft prevention program designed to detect, prevent, and mitigate identity theft in connection with the opening of a covered account or an existing covered account and to provide for the continued administration of the program.
2026 Budget Document
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