Fiscal Year 2013 Recommended Budget Book - Lake County

Financial StructureCounty’s Organizational UnitsThe County’s organizational units follow the FloridaState Chart of Accounts, and are organized on the basisof funds. The County prepares a budget for 56 separatefunds. The operations of each fund are accounted for witha separate set of self-balancing accounts that comprise itsrevenues and expenditures, or expenses, as appropriate.Government resources are allocated to and accounted forin these funds based upon the purposes for which they areto be spent and the means by which spending activitiesare controlled.Departments are responsible for carrying out a majorgovernmental activity, such as public safety or growthmanagement services.A department is comprised of one or more uniquedivisions to further define a service delivery, such as theMaintenance Division of the Facilities Development andManagement Department.A section or program divides specific responsibilitieswithin a division, for example, Energy Managementwithin the Maintenance Division.Budgeting by FunctionPresentation of the operating budget is alsostructured by Functions which delineate budgetexpenditures in terms of broad goals and objectives.Major functions include: 1) General Government, 2)Public Safety, 3) Physical Environment, 4)Transportation, 5) Economic Environment, 6)Human Services, 7) Culture and Recreation, and 8)Court-Related Expenditures.The Comprehensive Annual Financial Report(CAFR) depicts the operating budget by function.Functions may transcend specific fund ordepartmental boundaries in that a functionencompasses all associated activities, regardless offund or department, directed toward the attainmentof a general goal or objective.Financial StructureGovernmental Fund TypesGeneral Fund - The General Fund is the generaloperating fund of the County. All general taxrevenues and other receipts that are not requiredeither legally or by Generally Accepted AccountingPrinciples (GAAP) to be accounted for in otherfunds are accounted for in the General Fund.General operating funds of the Clerk of Courts, PropertyAppraiser, Sheriff and Tax Collector are held andaccounted for by each respective Constitutional Office.Funds transferred to these offices from the Board’sGeneral Fund are reported in the Constitutional Officessection of this document.Special Revenue Funds - Special Revenue Funds areused to account for the proceeds of specific revenuesources (other than major capital projects) that are legallyrestricted to expenditures for specified purposes. LakeCounty maintains 37 Special Revenue funds.Debt Service Funds - Debt Service Funds are used toaccount for the accumulation of resources for, and thepayment of general long-term debt principal, interest, andrelated costs. The County’s budget includes four DebtService funds.Capital Projects Funds - Capital Projects Funds areused to account for financial resources to be used for theacquisition or construction of major capital facilities.There are five Capital Projects funds in the total budget.Proprietary Fund TypesEnterprise Funds - Enterprise Funds are used to accountfor operations that are financed and operated in a mannersimilar to private business enterprises. The intent of thegoverning body is that the costs (expenses, includingdepreciation) of providing goods or services to thegeneral public on a continuing basis be financed orrecovered primarily through user charges. Lake County’stwo Enterprise funds are associated with solid wastemanagement.Internal Service Funds - Internal Service Funds are forthe financing of goods or services provided by onedepartment or agency to other departments or agencies ofthe governmental unit, or to other governmental units, ona cost reimbursement basis. There are three InternalService funds.D - 3