FY 23 Approved Budget Book

COUNTY BUDGET POLICIES AND PROCESS

Maintenance of Capital Plant and Equipment

The budget will provide for adequate maintenance of capital plant and equipment and for their orderly replacement based on the schedule prepared under the capital improvement budget policy.

Pension Plans

The County will provide for adequate funding of the Volunteer Firemen’s Pension program and the Sheriff’s Pension Plan by establishing an actuarial reserve. Pay-as-you-go pensions will not be established. Actuarial analysis on the pension systems will be performed at least biannually.

Budgetary Control

The County will maintain a budgetary control system to assist in adhering to the enacted budgets of various operating funds. In addition to this the County will prepare regular reports comparing actual revenues and expenditures to budgeted amounts.

Three Year Expenditure Plan

Annually, the County will update a three year expenditure plan. Projections include estimated operating costs of future capital improvements that are included in the Capital budget.

Fiscal Impact Statements

Fiscal Impact Statements shall be prepared for all legislative proposals and resolutions in accordance with local law. Statements shall also be prepared on any new administrative policy, procedure, or program; as well as to determine the future financial impact of subdivision approvals. The fiscal impact shall be assessed on both the expenditure and revenue side of the budget. Capital Budget Policies All capital improvements and various related projects must be made in accordance with the Approved Capital Improvement Program. Departments and Agencies will propose a capital improvement program to the Planning Advisory Board for their consideration. After their review, the Director of Planning and Zoning will transmit these recommendations to the County Executive. The County shall then coordinate the Capital Improvement budget with the Operating budget. Debt service operating costs will be projected and included in the operating budget forecasts. Debt service and approved capital projects must follow the standard debt policies of the County.

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