FY 23 Approved Budget Book

income tax revenues. The County should monitor future events carefully to see how inflation develops and evolves.

I. Purpose

The Spending Affordability Advisory Committee ("Committee") was created by Executive Order 92-2 and further amended by Executive Order 00-04. The Executive Order charged the Committee as follows: a. On or before February 15th of each year, the Committee shall submit a report to the County Executive with recommendations of fiscal goals for the County budget for the next fiscal year.

b. The report shall contain fiscal goal recommendations for the next fiscal year in the following areas: i) Recommended level of County spending for operating fund ii) Recommended level of new debt authorization iii) Recommended level of unassigned fund balance or retained earnings iv) Any other findings or recommendations the Committee considers appropriate

In discharging its responsibilities pursuant to the Executive Order, the Committee was cognizant of the need for a Report which, when based purely upon the consensus findings and conclusions of the Committee, would be used as a tool by Harford County Government in assisting the budgeting as well as other processes. The resulting methodology is similar to that which has historically been utilized to predict anticipated revenue growth. The Committee primarily used publicly available data with realistic and recognized methodology in its analysis. The Committee had no preconceived intentions as to the findings or recommendations contained herein.

106