BZA: “Board of Zoning Appeals”
The Board of Zoning Appeals (BZA) is a five (5) person board enabled through state statute to grant variances from developmental standards, use variances, special exceptions, and administrative relief.
CAFR: “Comprehensive Annual Financial Report”
A CAFR (Comprehensive Annual Financial Report) is government's complete accounting of "Net Worth".
COIT: "County Option Income Tax"
County Option Income Tax is the term commonly used to refer to a local option income tax that is designed primarily to provide revenue to local civil units. It may also be used to provide some property tax relief.
EZ: “Enterprise Zone”
An Enterprise Zone is a specific geographic area targeted for economic revitalizing. Enterprise Zones encourage economic growth and investment in distressed areas by offering tax advantages and incentives to businesses locating within the zone boundaries.
FICA: “Federal Insurance Contributions Act”
Federal Insurance Contributions Act mandates that an employer withhold a set percentage of an employee’s salary each pay period. FICA also requires that the employer match the employee’s amount and contribute the money to a government account known as the Social Security Trust Fund. This fund provides retirement income, as well as disability insurance, Medicare, and benefits for survivors.
FIT: ”Federal Income Tax”
A Federal income tax is a tax levied on the financial income of people, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax.
IRS: “Internal Revenue Service”
The Internal Revenue Service (IRS) is the United States federal government agency that collects taxes and enforces the internal revenue laws. It is an agency within the U.S. Dept of the treasury responsible for interpretation and application of Federal tax law
PERF: “Public Employees’ Retirement Fund”
The Indiana Public Employees’ Retirement Fund (PERF) is among the largest 100 pension funds in the United States. The fund serves the needs of more than 220,000 public employees and retirees representing more than 1,200 employers including public universities, school corporations, municipalities and state agencies.
TIF: “Tax Increment Financing”
Tax Increment Financing is a public financing method which has been used for redevelopment and community improvement projects in many countries including the United States for more than 50 years. With federal and state sources for redevelopment generally less available, TIF has become an often-used financing mechanism for municipalities.
