Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 395
Appendix → glossary
ysis and financial reporting purposes. The State of Florida Uniform Accounting System mandates
certain object codes.
Operating Expenses: Also known as Operating and Maintenance costs, these are expenses or
day-to-day operations which exclude capital costs, such as office supplies, maintenance of equipment, and travel.
Other Appropriations: Functional classification for funds set aside to provide for unforeseen
expenses, reserves and debt payment required by bond documents, and reserves for future capital
projects.
Parks and Recreation Capital Expansion Trust Fund (063): Revenues are provided by impact
fees for parks and recreational projects to serve the public.
Per Capita Income: The average annual amount an individual would receive if their city’s entire
population of income were divided equally among all residents. When determining the per capita
income of a community, the total personal income is divided by the population.
Performance-Based Budgeting - A performance budget is one that reflects both the input of resources
and the output of services for each unit of an organization. The goal is to identify and score relative
performance based on goal attainment for specified outcomes. This type of budget is commonly used by
government bodies and agencies to show the link between taxpayer funds and the outcome of services
provided by federal, state, or local governments.
Permit & License Revenue: This category includes revenue raised for recovering the costs associated with regulating business activity. They include fees imposed on construction-related activities
and business licenses.
Personnel Services: The cost imposed on each department to support monetary personnel compensation. This includes salaries, wages, and benefits.
Physical Environment: Cost of services provided for the primary purpose of achieving a satisfactory living environment by controlling and utilizing elements of the environment, including solid
waste, water, and sewer conservation & resource management, & other physical environmental
services.
Potable Water: Water that is safe to drink.
Principal: The face amount of debt, exclusive of accrued interest.
Program: A set of activities with a common goal accomplished through a plan of action to accomplish a clear objective, with details on what work is to be done, by whom, when, and what means of
resources will be used.
Property Appraiser: The elected county official responsible for setting property valuations for tax
purposes and preparing the annual tax roll.
Proposed Budget: The budget for the upcoming fiscal year is submitted to the City Commission
for consideration. The proposed Budget includes estimated revenues, proposed expenditures, and
other financing sources and uses followed by the adopted, approved City Commission Budget. The
City Manager is responsible for a Proposed Operating Budget.
Proprietary Fund: A proprietary fund is used in governmental accounting to account for business
activities.
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City of Eustis, Florida
Adopted Budget
393
