Why are there 2 budgets created each year: the "Tax Budget" and the "Annual Budget"?

The "Tax Budget" is compiled in the first half of each year for the succeeding year's activity. In terms of County revenues, the Tax Budget provides governmental departments (Commissioners, County Auditor, State Tax Commission) with a first view of anticipated revenues for the succeeding year, including estimated revenues in relation to not only the General Fund but also special revenue funds and levy (millage) funds.

In terms of expenditures, the Tax Budget is a valuable tool for, again, providing a first estimate of what expenditures may occur in the succeeding year, and how realistic such expenditures may be as compared to tax budget revenue estimates. As of this writing, the County Budget Commission has waived the requirement of constructing a tax budget under Section 5705.28.1 of the Ohio Revised Code. However, the Budget Commission requires the taxing authority to provide information needed by the Commission to perform its duties, and more information after June 9, 2003.

The Annual Budget (annual appropriation) is the final budget created for the succeeding year. This budget is hammered out in the last half of the year for the succeeding year. It is approved by the Board of County Commissioners by formal resolution in December. The Annual Budget, then, as opposed to the Tax Budget, becomes the official budget for the succeeding year and provides the legal basis for the Board to meet its payment obligations.

Show All Answers

1. How do I find out about Board of Commissioners meetings and other special events?
2. How do I find the weekly agenda and minutes for the Board of Commissioners meetings?
3. Does the Board of Commissioners belong to any taxpayer-funded lobbying associations?
4. How can I find information about the Lorain County Sheriff's Sales?
5. Where can I find information about receiving a notary license, to become a notary public?
6. How do I request a copy of a birth certificate?
7. How do I request a copy of a death certificate?
8. How do I request a copy of a person's will?
9. Does Lorain County offer small business loans?
10. Who should I contact about financial incentives?
11. Who should I contact about applying for grants?
12. Where can I find census data for Lorain County?
13. What is the difference between the "Annual Budget" and the "Annual Appropriation"?
14. Why are there 2 budgets created each year: the "Tax Budget" and the "Annual Budget"?
15. How do I obtain Solicitations - that is, RFPs and RFQs?
16. Does the County have a Building Department?
17. Who should I contact regarding lost or found dogs?
18. How do I find dogs that are available to adopt?
19. Where can I find information about recycling?
20. Where can I find information about serving on the jury in Lorain County?
21. How do I find schedules for local transit buses?
22. How do I receive discounts on prescriptions?
23. How can I submit information to this website?
24. Why are some webpages under construction?