FY 24 APPROVED OPERATING BUDGET

COUNTY BUDGET POLICIES AND PROCESS

by Harford County. In addition, departments and agencies have established short-term objectives to meet their goals. Performance Measures will then quantify their success or failure in meeting these objectives and goals. Harford County’s Administrative Fiscal Policies Long Term Financing Techniques General Obligation Bonds - are also known as full faith and credit bonds . Their quality and payment is based on the general credit and taxing power of the County. The County must take whatever actions are necessary to assure repayment. Such bonds are typically used to finance the capital portion of tax supported, general public purpose governmental activities with schools, libraries, and public safety buildings. Revenue Bonds - are payable solely from identified sources of revenue that may be derived from rates, fees, or charges for service imposed on users of the financed project, tax increment, or specified General Fund non ad valorem tax revenues. Typically, these bonds are used for the County owned water and sewer system activities of treatment, collection, production, and distribution. Special Assessment Bonds - are bonds secured solely by the properties in the district, with revenues generated by a special assessment or tax on the properties. Under law the County may establish assessment districts and issue bonds for infrastructure improvements. Lease Purchase/Certificates of Participation - are obligations of the public entity secured by an installment sale or leaseback arrangement with a public entity lease. The lease generally pledges general operating revenues to cover the lease payments, which may or may not be reimbursed by revenues from the projects. These obligations do not constitute indebtedness under Maryland constitutional debt limitation. Payments to be made under valid leases are payable only in the year in which use and occupancy of the leased property is available, and lease payments may not be accelerated. All enacted laws and regulations imposed by Federal and State legislation must be carefully monitored by County Government to determine the eventual consequence on local expenditure requirements. Although Harford County actively pursues available intergovernmental financing to supplement funding of its programs, it is County policy to review the long-term financial impacts of all such programs to avoid eventual dependence on outside funding sources. It would not be prudent for County government to rely on continued grant funding of programs that influence the welfare and safety of the community. In an effort to provide and finance all desirable, but discretionary services to our citizens, Harford County Government analyzes its role in the provision of each service and determines the equitable financial burden of payment among taxpayers and users of those services. Harford County Government subsidizes individual consumers to alleviate emergency financial needs, and private providers to ensure the availability of facilities or services in the community. For example, the County provides (through the Emergency Assistance Program) direct payments to clients in need. County Government also provides supplemental payments to the Harford Center, Inc. and the ARC - Northern Interaction of Federal, State and County Governments Sharing Financial Responsibility

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