FY23 FULL BUDGET REPORT ADOPTED

Tax Base – The total assessed valuation of real property within the Town.

encumbered. It is essentially the amount of money still available for future purchases.

Tax Levy – The product when the tax rate is multiplied by assessed values.

Unassigned Fund Balance – That portion of resources, which at year’s end, exceeded requirements and has not been assigned to some future time for a specific project or use. Money in the unassigned fund balance is not in the Budget and therefore has not been appropriated for expenditure. However, those funds are available for use if the need arises in accordance with Town Policy. Workload Measure – A performance measure identifying how much or how many products or services were produced (ex. Number of yard waste/leaf collection points served).

Tax Rate – The amount per $100 pf property valuation that is levied for the support of government services or activities. Transfer – An appropriation to or from another fund. A transfer is the movement of money from one fund to another to (wholly or partially) support the functions of the receiving fund.

Unencumbered Balance – The amount of an appropriation that is neither expended nor

Common Acronyms ACFR

Annual Comprehensive Financial Report

LEED

Leadership in Energy and Environmental Design

ARPA

America Rescue Plan Act

LGC

Local Government Commission

CALEA

Commission on Accreditation for Law Enforcement Agencies

LGERS

Local Government Employee’s Retirement System

CIP

Capital Investment Program

LUP

Land Use Plan

CO

Certificate of Occupancy

MSD

Municipal Service District

DENR

Department of Environment and Natural Resources

NCDOT

North Carolina Department of Transportation

DMV

Department of Motor Vehicles

NCDWQ

North Carolina Department of Water Quality

EEO

Equal Employment Opportunity

NCLM

North Carolina League of Municipalities

EMS

Emergency Management Services

NFPA

National Fire Protection Agency

EPA

Environmental Protection Agency

NPDES

National Pollutant Discharge Elimination System

ETJ

Extra Territorial Jurisdiction

OPEB

Other Post Employment Benefits

FEMA

Federal Emergency Management Administration

OSHA

Occupational Safety and Health Act

FT

Full-time

PIL

Payment in Lieu

FTE

Full-time Equivalent

PPIL

Parkland Payment in Lieu

FY

Fiscal Year

PIO

Public Information Officer

GAAP

Generally Accepted Accounting Principles

PO

Purchase Order

GASB

Governmental Accounting Standards Board

PT

Part-time

GFOA

Government Finance Officers Association

TIA

Traffic Impact Analysis

GO Bonds

General Obligation Bonds

TIP

Transportation Improvement Program

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