FY 23 APPROVED CAPITAL BUDGET

appropriations, as well as transferring appropriations, limiting expenditures, defining the composition of funds, and amending the budget.

The County may incur debt per the Charter, however:

o no debt for a term of one year or greater shall be incurred by the County to meet operating expenses;

o all debt for a term in excess of one year shall become due no later than 30 years after the date of issuance,except debt incurred to finance water, sewer, and wastewater facilities, which shall become due no later than 40 years after the date of issuance; and o debt should be made payable within the probable useful life of the improvement or undertaking. 2 PLANNING ADVISORY BOARD Section 406 of the Harford County Charter establishes a Planning Advisory Board consisting of five members, who are qualified voters of the County and appointed by the County Executive for terms coterminous with his and confirmed by theCouncil. “At such times as the County Executive shall fix, the Planning Advisory Board shall consider an itemized list of all capital projects and the capital improvement program which all agencies of the County government propose to undertake in the ensuing fiscal year and the next succeeding five fiscal years thereafter. After consideration by the Planning Advisory Board, the Director of Planning shall transmit to the County Executive, together with his/her recommendations, a list of projects recommended by said Board to be undertaken in the periods aforesaid and its estimate of the cost thereof.” Pursuant to Article 25A, 5(P) of the Annotated Code of Maryland (1998 Replacement Volume and 2001 Supplement), HarfordCounty, as a charter county, is limited in the amount of general obligation supported debt it can issue to an amount equal to atotal of 6% of the assessable base of Real Property and 15% of Personal Property. C CODE OF HARFORD COUNTY, MARYLAND – FISCAL IMPACT STATEMENTS The Code of Harford County, Maryland, Part I Administrative Legislation, Chapter 31, Fiscal Impact, requires that all proposed legislation before the County Council be reviewed for its fiscal impact prior to a public hearing. Since any law could affect the cost of government, it is County policy to provide to the legislative body such information as is necessary to assess the direct and indirect costs of pending legislation. Additionally, the County provides information on fiscal impacts to the State government for any State legislation under consideration which would affect Harford County. D HARFORD COUNTY’S FIVE YEAR BUSINESS PLAN Harford County’s Five Year Business Plan addresses the areas of Financial and Strategic Planning, Debt and Cash Management, Revenues, plus Operating and Capital Budget Policies, to ensure that the County is capable of adequately funding and providing those local government services needed by the community. The aspects of the Business Plan pertinent to the Capital Budget include: B ANNOTATED CODE OF MARYLAND – DEBT LIMIT

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