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Indian River County, Florida Notes To Financial Statements Year Ended September 30 , 2002 NOTE 3 = STEWARDSHIP, COMPLIANCE , AND ACCOUNTABILITY Budgets and Budgetary Accounting The County uses the following procedures in establishing the budgetary data reflected in the financial statements : ( 1 ) The constitutional officers 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 of the Florida Statutes . (2) The Department of Revenue , State of Florida, has the final authority on the operating budgets for the Tax Collector and the Property Appraiser included in the General Fund . (3 ) Constitutional officers , all departments controlled by the Board, and outside state and local agencies submit their proposed budgets to the Office of Management and Budget for assistance , review and compilation. The County Administrator then reviews all County departments, state agencies and nonprofit organization ' s budgets and makes his budget recommendation to the Board . (4) On or before 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 . The Board then holds workshops to review the tentative budget by fund on a departmental level . (5 ) During September, public hearings are held pursuant to Section 200 . 065 of the 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 legally adopt the budgets at the fund level for all governmental and proprietary fund types . The budgets legally adopted by the Board set forth the anticipated revenues by source and the appropriations by function. (6) Formal budgetary integration on an object level is used as a management control device for the governmental and proprietary funds of the County. Management is authorized to transfer budgeted amounts between objects and departments in any fund as long as management does not exceed the total appropriations of a fund . Board approval to amend the budget is only required when unanticipated revenues are received that management wishes to have appropriated, thereby increasing the total appropriations of a fund . (7) Budgets for the governmental and proprietary fund types are adopted on a basis consistent with generally accepted accounting principles . ( 8) Appropriations for the County lapse at the close of the fiscal year. 52