Page 163 - Town of Bedford FY 2018-2019 Budget.pdf

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Transfer: Moving funds from one – fund, department, object – to another. Fund transfers must be
approved by Town Council. Department and object transfers are at the discretion of Administrative
Staff.

Transient Occupancy Tax: The Transient Occupancy Tax is a tax imposed on "transients" who occupy a
room or room in a hotel or motel in the City. This tax is 5% - otherwise known as the lodging tax.

VDOT: Virginia Department of Transportation – provides funding sources to the Town for the
maintenance and upkeep of designated roads.

VML: Virginia Municipal League – organization of municipal governments around Virginia. VML serves as
the Town’s insurance provider.

VRS: Virginia Retirement System - administers pension plans and other benefits for Virginia’s public
sector employees covered under VRS.

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