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INDIAN RIVER COUNTY, FLORIDA <br />NOTES TO FINANCIAL STATEMENTS - CONTINUED <br />Year Ended September 30, 1991 <br />1. Summary of Significant Accounting Policies - Continued: <br />S. Budgets and Budgetary Accounting - The County uses the following procedures in <br />establishing the budgetary data reflected in the financial statements: <br />(1) The Constitutional Officers submit, at various times, to the Board and to <br />certain divisions within the Department of Revenue, State of Florida, a <br />proposed operating budget for the fiscal year commencing the following <br />October 1. The operating budget includes proposed expenditures and the <br />means of financing them. <br />(2) The Department of Revenue, State of Florida, has the final authority on <br />.the operating budgets for the Tax Collector and Property Appraiser <br />included in the General Fund. <br />(3) On or before July 15 of each year, the Director of the Office of <br />Management and Budget, as the Board's designated budget officer, submits <br />to the Board a tentative budget for the ensuing fiscal year. The tenta- <br />tive budget includes proposed expenditures and the means of financing <br />them. The Board then holds workshops to review the tentative budget by <br />Fund on an object level. <br />(4) During September, public hearings are held pursuant to Section 200.065 of <br />the Florida Statutes in order for the Board to receive public input on the <br />tentative budget. At the end of the last public hearing, the Board enacts <br />ordinances to legally adopt the budgets for all governmental fund types. <br />The budgets legally adopted by the Board set forth the anticipated <br />revenues by source and the appropriations by function. <br />(5) Formal budgetary integration of an object level is used as a management <br />control device for the governmental funds of the County. Management is <br />authorized to transfer budgeted amounts between objects and departments in <br />any fund as long as management does not exceed the total appropriations of <br />a fund. Board approval to amend the budget is only required when <br />unanticipated revenues are received that management wishes to have <br />appropriated thereby increasing the total appropriations of a fund. <br />B-21 <br />