FY 23 Approved Budget Book

pertinent information or estimates from the State Comptroller’s office. · The County Debt Management Policy dated April 13, 2010 and a debt burden analysis for years 2021-2027 as prepared by the Treasurer’s office. · The County FY 2021 Comprehensive Annual Financial Report. · The County provided access to members of the Department of Planning and Zoning as well as the Department of

Economic Development. These individuals provided the Committee with insight into future growth and development of

the County. B. Selected Method - Further Qualifications

The Committee reviewed, in detail, revenue estimates for the property tax and the local income tax. Collectively, property and income tax collections represent approximately 89.0% of total General Fund revenues to the County. The Committee reviewed historical data, developed trends, and forecasted revenues for both FY 2022 and FY 2023 from these two revenue sources. Due to a lack of historical patterns, the Committee presumed no significant changes in other revenue sources, such as licensing, permit, investment income (note: as these are becoming more significant, the Committee does recommend future committees consider the impact of these other fees), and miscellaneous fees, or in miscellaneous State funding, such as police or law enforcement aid. The Committee also noted the influx of federal and sate assistance related to Covid-19; however, as the County has placed those revenues in its Grant Fund, there is no impact on the General Fund. The Committee also reviewed the FY 2022 General Fund Budget as a necessary step in carrying out its charge to recommend a FY

2023 spending level. It was necessary to adjust the FY 2022 General Fund Budget to reflect the reduction of the appropriated fund balance

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