Net Operating and Capital Funds
Pasco County leverages fund accounting to track and manage financial resources to ensure appropriate utilization. Funds are created to segregate financial resources intended for a specific purpose. For example, Utilities uses two funds to segregate and manage water and wastewater related service fees and solid waste related service fees. Another example are mobility fees which are assessed on new development, such as homes, churches, restaurants, and more, each with a corresponding fee to ensure residents and visitors alike can reach those destinations.
The charts and tables below explain and summarize the funds the County uses to manage its financial resources.
Fund Structure
The structure and health of the County's funds help our leaders make important decisions. Funds are organized following guidance from the Florida Department of Financial Services, Division of Accounting & Auditing, The Bureau of Financial Reporting. Pasco County organizes its fund by category - Capital, Debt, Enterprise, Internal Service, and Special Revenue. Categories are defined in the table below.
Net Operating Fund Budget
This graph and table depict the funds actively used to maintain the County's day-to-day operations. Types of cost may range from salaries, equipment, materials, books, training, and much more.
Net Capital Fund Budget
This graph and table depict the capital funds used to manage the County's capital improvement plan.
Some examples of projects within the capital plan are building new roads, road safety improvements, building park and recreation areas, improving library facilities, land, and other fixed assets.
General Fund
This is the County's basic operating fund containing Ad Valorem taxes. These funds can be used for any purpose to support the County's mission. There is only one General fund.
Special Revenue Funds
These revenues are earmarked or restricted by law for a particular purpose.
Some examples of work done in Special Revenue funds would be floodplain rehabilitation and abatement, maintenance of roads, medical care for a range of pets, and planting trees.
Debt Service Funds
These funds track the County's debt obligations such as principal, interest, and other debt service costs.
Some examples of debt the County is managing would be projects such as Sunlake Boulevard, SR56 Extension, and the County's General Obligation bonds.
Enterprise Funds
These revenues are from services that are nearly fully supported by customer fees.
The County manages two enterprises, each one with an operating and capital fund. The water utility distributes water and vacates sewage from residential and commercial users. The other enterprise is how the County deals with its waste. This enterprise's vision is to view waste as a resource for recycling, beneficial reuse, and power generation.
Internal Service Funds
These funds are used to manage services provided to Departments within the County.
The employee health insurance, property insurance, and the fleet service department are managed within this fund type.