Office of Management and Budget Glossary

Adopted Budget

The financial plan of revenues and expenditures for a fiscal year as approved by the Osceola County Board of County Commissioners.

Budget Amendment

A revision to the adopted budget occurring during the affected fiscal year as approved by the Osceola County Board of County Commissioners.

Capital Improvement Program

A multi-year schedule of capital improvements identified in the Comprehensive Plan, as well as other capital improvements which are desired by, or necessary for, the County.

The County's current Capital Improvement Program documentation can be found in the most recent Adopted Budget.

Less 5%

State law requires that counties appropriate no more than 95% of anticipated revenue. Therefore, 5% is deducted from all revenue estimates prior to budgeting their use.

Level of Service

An indicator of the extent of service provided by, or proposed to be provided by, a facility based on the operational characteristics of the facility.

Millage

1/1000 of one dollar; used in computing taxes by multiplying the rates times the taxable value divided by 1,000.

Municipal Services Benefit Unit

A specific taxing unit established by the Board of County Commissioners via an adopted ordinance, which derives a specific benefit for which a non ad valorem special assessment is imposed to defray part or all of the cost of providing that benefit.

Municipal Services Taxing Unit

A specific taxing unit established by the Board of County Commissioners via an adopted ordinance, which derives a specific benefit, for which a levy is imposed to defray part or all of the cost of providing that benefit.

Reserve

An account used to indicate that a portion of a fund's balance is legally restricted for a specific purpose and is, therefore, not available for general appropriation. Reserves fall into two categories: Required Reserves are those reserves that are provided for in state law, such as the Cash Reserve and Debt Service Reserves required by Bond Covenants. Discretionary Reserves are contingencies and reserves held for undesignated capital projects.

Unincorporated Area

Those areas of Osceola County, which lie outside the boundaries of the cities.