In this Article the following terms have the following meanings, unless the context clearly indicates a different meaning:
Actual total revenues means the combined total of income tax, real property transfer tax, recordation tax, and investment income, as reported in the County’s annual financial report.
Adjusted Governmental Revenues means tax-supported County Governmental Funds revenues, plus revenues of the:
(1) County Grants Fund;
(2) County Capital Projects Fund;
(3) tax supported funds of the Montgomery County Public Schools, not including the County’s local contribution;
(4) tax supported funds of Montgomery College, not including the County’s local contribution; and
(5) tax supported funds of the Montgomery County portion of the Maryland-National Capital Park and Planning Commission.
Director means the Director of the Department of Finance.
Excess revenue means the amount, if positive, by which actual total revenues from the income tax, real property transfer tax, recordation tax, and investment income of the General Fund for the fiscal year exceed the original projections for these amounts.
Fund means the Revenue Stabilization Fund created under this Article.
General Fund means the general operating fund of the County which is used to account for all revenues and expenditures, except revenues and expenditures required to be accounted for in another fund.
Income tax means the County income tax imposed under state law.
Investment income of the General Fund means income derived from the investment of revenues from the General Fund.
Original projection means the projection of total General Fund revenues for the next fiscal year approved by the County Council in the “Schedule of Revenue Estimates and Appropriations” resolution or any similar resolution.
Recordation tax means the tax imposed under Sections 12-101 et. seq., Tax-Property Article, Maryland Code.
Revised forecast means any revised projection of total General Fund revenues for the next fiscal year prepared by the Department of Finance.
Total reserve means the sum of the reserve in the Fund plus the Unrestricted General Fund Balance.
Unrestricted General Fund Balance means the residual portion of the General Fund fund balance that has not been reserved, restricted, or encumbered for later year’s expenditures.(1993 L.M.C., ch. 41, § 1; 2010 L.M.C., ch. 33, § 1.)