OPERATIONAL OVERVIEW
FY 2026
Budget Adoption:
The County Commissioners provide a consensus to take the Proposed Budget to a public hearing to communicate to the General Public for all operating and capital funds. Advertisements are provided in the local newspaper and on the County web site. Documents and handouts are prepared for the public hearing.
Public hearings are held on the Proposed Budgets along with the current tax levy. Local Law requires a balanced budget to be adopted by July 1 st .
For fiscal year starting July 1, 2025, and onwards, the deadline for setting property tax rates will be June 20 th .
Start Up:
Department managers are responsible for their budgets throughout the fiscal year. Expenditures percentages are calculated and compared to budget. Corrective action, if necessary, is taken if serious negative trends exist. Management and the County Commissioners have real-time budgeting reports available on-line, as well as updates on major events and/or issues.
Basis of Accounting and Budgeting
GAAP Basis of Accounting:
The basis of accounting refers to the timing of when revenues and expenditures are reported in financial documents. The County presents financial statements in accordance with GAAP.
The governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized when measurable and available. Expenditures are generally recorded when incurred. In accordance with GAAP, the County considers revenue collected within 90 days of the end of the fiscal year as being available, except for property taxes, which must be collected within 60 days. When revenues have not been received within the availability periods, they have been deferred into a future fiscal year. The proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned, and expenses are recognized when a liability is incurred, regardless of the timing of cash flows.
Budgetary Basis of Accounting:
The budgetary basis of accounting determines when a government charges an expenditure to a budget appropriation, or when it credits revenue to its funds for budgeting purposes. Although the County presents financial statements in accordance with GAAP, the budget is adopted on a modified cash basis. The major areas of difference between the two basis of accounting area as follows:
For budgetary purposes, expenditures are recognized when encumbered. Under GAAP, encumbrances are classified as a reservation of fund balance.
2026 Budget Document
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