The principal codification of laws for the State of Arizona.

An annual budget in which expenditures or uses do not exceed available resources. Current year spending as well as future spending obligations must be taken into account.

A budgeting strategy where decisions are based on or informed by performance information that describes the cost or efficiency of producing an activity and the results achieved for customers—those who receive or use the services or products of a department or program. This is accomplished by structuring the accounting and budgeting systems according to the structure of departments' strategic plans.

Comprehensive Annual Financial Report. The audited financial statements of the County, prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP).

A fund established to account for the proceeds of bond issues and other financial resources for the acquisition, construction or reconstruction of major capital facilities.

An allocation of General Fund Central Service department’s costs (i.e., human resources, internal audit) to all non-General Fund departments through a consistent, logical methodology in proportion to the service or benefit received.

A fund used to account for the accumulation of resources for and payment of general long-term debt principal and interest such as that associated with general obligation, special assessment, and stadium district bonds.

An organizational unit headed by a director or elected official. In terms of financial structure, departments can have multiple funding sources, (i.e., general fund, special revenue etc.) that are based on specified uses. The combinations of the various funds are consolidated at the department level.

An accounting period of 12 months. Maricopa County government operates on a fiscal year that begins on July 1 and ends on the following June 30.

A value equivalent to the number of employees paid full time (forty hours per week or from 2,080 to 2,096 hours per year, depending on the calendar).

A fiscal and accounting entity with a self-balancing set of accounts segregated for the purpose of carrying out specific activities or obtaining certain objectives in accordance with regulations, restrictions, or limitations.

An amount composed of accumulated excess or deficiency of revenues less expenditures in a fund. This is measured at the beginning or end of a fiscal year.

A fund accounting for all financial resources of the County, except those required to be accounted for in other funds, which serve as the County’s primary operating fund.

Those accounting principles sanctioned by recognized authoritative bodies such as the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB).

County General Fund, special revenue funds, debt service funds, and capital projects funds.

Organized in 1984 as an operating entity of the Financial Accounting Foundation (FAF) to establish standards of financial accounting and reporting for state and local governmental entities. The goals of these standards are to improve the quality and usefulness of information for users of financial reports.

A cost billed to one County department by another County department for base level or discretionary services provided.

A proprietary fund that may be used to report any activity that provides goods or services to other departments on a cost-reimbursement basis.

Managing for Results is a comprehensive and integrated management system that focuses on achieving results for the customer. MFR provides a common framework under which strategic planning, budgeting, and performance measurement are aligned in a unified, cyclical process with five components that support the process: Planning for Results, Budgeting for Results, Delivering Services, Analyzing and Reporting Results, and Evaluating and Improving Results.

Identifies the expenditure type (e.g., cash, accounts payable, real property taxes, salaries and wages).

A category of expenditures within the budget that includes salaries, benefits, temporary help, special pay, overtime, salary adjustments, and personnel allocations out/in.

Legally separate entities that are reported as blended component units of Maricopa County. The Special Districts include the Maricopa County Library District, Flood Control District of Maricopa County, and Maricopa County Stadium District. Pursuant to GAAP, the Special Districts are reported as part of the County for financial reporting purposes.

A fund that accounts for the proceeds of specific revenue sources (other than major capital projects) that is legally restricted to specific-purpose expenditures.