FY 23 Approved Budget Book

HIGHWAYS FUND

FINANCIAL NOTES:

FY 22

FY 23

CHANGE

EXPLANATION OF INCREASE/DECREASE - REVENUES

1,049,600

830,300

(219,300)

CHARGES FOR GOVERNMENT SERVICES Governmental services charges such as inspections, plans review and fuel for county agencies. Based on actual revenues, we have reduced the amount anticipated from Harford County Public Schools for Fuel.

50,600

20,600

(30,000)

INVESTMENT INCOME Revenues from investments are reflective of the size of the County's portfolio and the rate of return.

7,260,400 8,193,125

932,725

OTHER REVENUE The elements mainly responsible for the net increase in "Other" revenues are:

FY 22

FY 23

Change

Vehicle Maintenance contract reimbursement

3,662,900

3,930,000 1,100,000

267,100

840,000 246,000

260,000 Recovery from capital projects

405,000

159,000 Sale of Vehicles

7,531,400 10,370,675

2,839,275

FUND BALANCE APPROPRIATION Excess unappropriated fund balance at the end of a fiscal year, above the 5% reserve designated for credit rating purposes, maintained by County policy, is appropriated into the next fiscal year's budget, and treated as one-time funding for that fiscal year. Fund Balance of $9,846,097 is appropriated for the FY 23 Budget with an additional appropriation of $524,578 dedicated for the 27th pay.

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