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The County's Constitutional Officers (including the Clerk of the Circuit Court, Sheriff, Supervisor of Elections, Property Appraiser and Tax Collector) submit, at various times, to the Board and to certain divisions within the Department of Revenue, State of Florida, a proposed operating budget for the fiscal year commencing the following October 1. The operating budget includes proposed expenditures and the means of financing them as set forth in Chapter 129, Florida Statutes. The Florida Department of Revenue has final authority over the operating budgets of the Tax Collector and Property Appraiser (which are included in the County's General Fund). Constitutional Officers and all departments controlled by the Board of County Commissioners submit their proposed budgets to the Office of Management and Budget for assistance, review and compilation. The County Administrator then reviews all county department budgets and makes his budget recommendation to the Board of County Commissioners. On or about July 15 of each year, the County Administrator and the Director of the Office of Management and Budget, as the Board's designated budget officer, submit to the Board a tentative budget for the ensuing fiscal year. The tentative budget includes proposed expenditures and the means of financing them. Workshops are held by the Board for the purpose of reviewing the tentative budget by fund on a department level. Budget office staff revises the budget for any changes arising from the workshops. Once this work is complete, staff begins work on the budget advertisement, required by law to be published in a newspaper of general circulation in the County (the advertisement is run between the dates of the 2 public hearings held in September). During September public hearings are held pursuant to Section 200.065, Florida Statutes, in order for the Board to receive public input on the tentative budget. At the end of the last public hearing, the Board enacts ordinances to adopt at the fund level, the budgets for all governmental fund types. The budgets legally adopted by the Board set forth the anticipated revenues by sources and the appropriations by function. Budgets for enterprise and internal service funds are adopted on a basis consistent with generally accepted accounting principles. Computerized integrated budget reports are used for management control purposes throughout the year. Management is authorized to transfer budgeted amounts between line items and departments in any fund as long as the total appropriations of a fund are not exceeded. Board approval to amend the budget is required when unanticipated revenues are received that management wishes to have appropriated, thereby increasing the total appropriations of a fund. Appropriations for the County lapse at the close of the fiscal year. Description of Financial Practices The County's accounting records for general governmental operations are maintained on a modified accrual basis, with revenues being recorded when available and measurable, and expenditures being recorded when the services or goods are received and the liabilities are incurred. Accounting records for the County's proprietary funds are maintained on the accrual basis. The County operates on a fiscal year ("FY") of October 1 to September 30. Internal accounting controls for the County are designed to provide reasonable, but not absolute, assurance regarding the safeguarding of assets against loss from unauthorized use or disposition and the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits 3247/IND38M-9/P0S-B0DY-1 19