FY 24 APPROVED OPERATING BUDGET

HARFORD COUNTY, MARYLAND STATEMENTS OF ESTIMATED UNASSIGNED FUND BALANCE GENERAL FUND

684,882,300 (721,907,363) 174,255,011 GENERAL FUND 211,280,074

TOTAL FUND BALANCE AT June 30, 2022

2023 Revenue - Estimated 2023 Expenditures - Estimated

TOTAL ESTIMATED FUND BALANCE AT June 30, 2023

FUND BALANCE AVAILABLE FOR APPROPRIATION AT June 30, 2023 TOTAL ESTIMATED FUND BALANCE AT June 30, 2023

174,255,011

LESS: Nonspendable Fund Balance Long Term Rec LESS: Restricted Fund Balance Bond Proceeds Dedicated Revenues - Public Safety LESS: Assigned Fund Balance Reserve for Fiscal Stabilization Fund (1)

(833,412)

(12,667,902)

(25,000)

(38,424,800) (2,250,000) (10,000,000) (1,600,000) (30,000,000)

Encumbrances

Designated for Landfill Closure

Income Tax

Watershed Management

ESTIMATED UNASSIGNED FUND BALANCE AT JUNE 30, 2023

78,453,897

Fiscal Year 2024 Estimated Revenues

694,423,911 (768,496,000)

Less Fiscal Year 2024 Estimated Expenditures

ESTIMATED UNASSIGNED FUND BALANCE FOR FY 2025 & FUTURE YEARS

4,381,808

Reserve for Fiscal Stabilization Fund (1)

38,424,800

Estimated Reserve for Fiscal Stabilization Fund as a Percentage of Total Estimated Expenditures

5 %

(1) The 5% Reserve for Fiscal Stabilization Fund in the General Fund is necessary to maintain the high credit rating obtained from the Credit Rating agencies. The high bond rating allows the County to sell long-term debt at a lower interest cost thereby saving interest expenses each year. This policy was established in the County's Five Year Business Plan.

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