Government budgets can be tough to understand, but now the Albemarle County, Virginia is providing the next generation of accessibility in financial information that allows citizens to view, engage with, and discuss.
Appropriation A legal authorization where a sum of money can be allocated for specific purposes granted by the County Board of Supervisors to a specified unit of County Government. An appropriation is limited in dollar amount and when it may be spent, usually expiring at the end of the fiscal year.
Budget A specific plan of operations for the fiscal year that states the expenditures required to meet that plan of operations, and identifies the revenue necessary to finance the plan. The annual County budget is established (adopted) by the County Board of Supervisors.
Expenditure The act of spending funds towards the transfer of property or services for the purpose of acquiring an asset or service, or for settling a loss.
Fiscal Year A 12-month period designated as the operating year for accounting and budgetary purposes. The County’s fiscal year runs from July 1st to June 30th.
Non-Departmental Non-Departmental funds includes transfers to other funds and the annual Revenue Sharing payment to the City. This fund includes contingencies and other budgeted items that may expended from a departmental fund during the course of the year.
Operating Expenditures The cost for personnel, materials, and equipment required by a department in order to function.
Operating Revenue Funds that the government receives as income to pay for ongoing operations, including such items as taxes, fees from services, intergovernmental revenues, and grant revenues. Operating revenues are used to pay for day-to-day services.
Revenue Income generated by taxes, notes, bonds, investments, income, land rental, fees, user charges, and federal and state grants.
Revenue Sharing An agreement between the County of Albemarle and the City of Charlottesville, where the County and City contribute portions of their respective real property tax bases and revenues within the Revenue and Economic Growth Sharing Fund on an annual basis. Funds are transferred and distributed on January 31st.
The Fire Rescue Services Fund This is a recently developed fund that includes all emergency fire/rescue services provided by the County Department of Fire/Rescue, the volunteer fire companies and rescue squads as well as a transfer to the Capital Improvement Program.
The General Fund This fund accounts for all revenues and expenditures involved in daily operations of the County that are not accounted for in other funds. The General Fund is the primary operating account of the County, as well as the largest. This fund include most traditional local government programs such as police, libraries, parks, human services, etc. The General Fund also includes transfer payments to the School, County debt service, and capital improvement funds.
Transfers Budget transfers provide the opportunity to shift already budgeted funds to another area. Transfers may occur throughout the course of the fiscal year as needed for an agency’s operation.
Growth In the tablular view of this site "Growth" means increase over last fiscal year
Impact The total percent a particular category may have on the total budget revenue or expense