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1. What is a budget?

In simple terms, a budget is an entity's plan for its financial resources. It is an estimate of proposed expenses for a given period and the proposed means of paying for them. Two basic components of the budget are the revenue section and the expenditure section.

2. How does the county track its budget?

With 5,000 line items and dozens of organizations within its purview, Monroe County relies on computers with sophisticated budgeting software to help with budgeting and accounting. Like many counties in Florida, the Monroe County clerk of the circuit court performs the day-to-day accounting, such as writing checks to vendors and processing payroll. The Monroe County Office of Management and Budget, under the county administrator, prepares the budget using a computerized budget preparation system.

3. How does the county generate revenue?

Monroe County raises revenues from a variety of sources, including property taxes, licenses and permits, revenues from federal and state sources, charges for services, fines and forfeitures, grants, rents, and interest.

It is important to understand that the county has the ability to combine property taxes and other revenues to support a broad range of activities. The county also uses property taxes and other revenues to supplement programs receiving grant funds from the state and federal government. If grants or other funding decrease, the county must decide whether to raise tax revenues to support these various programs or reduce services.