Harford County, Maryland FY 24 Proposed Operating Budget

OFFICE OF ECONOMIC DEVELOPMENT Index #651000

FINANCIAL NOTES:

FY 23 FY 24 CHANGE EXPLANATION OF INCREASE/DECREASE

PERSONAL SERVICES increase in funding of $120,000

782,435 808,950 26,515 Full-time salaries

20,432 Salary adjustments 66,797 Salaries reinstated to operating budget from previous grant offset (60,714) Staff Turnover 26,515

(123,699) (123,699) One (1) position transferred to Housing & Community Development Salary Fringe Total Position (81,300) (42,399) (123,699) P2607 Admin Secretary III 95,412 95,412 One (1) position created in Office of Economic Development Salary Fringe Total Position 65,000 30,412 95,412 P4086 Admin Secretary III

85,600 254,336 168,736 Temporary Salaries provide for one Sr. Economic Development Associate and one Assistant Director

102,842 104,100 1,258 Pension adjustments

6,672 5,088 (1,584) Workers' Compensation adjustments

233,464 185,896 (47,568) Health Benefit calculations adjusted for consistency in position budgeting

57,440 70,452 13,012 Retirement Health Savings (RHS)

11,472 12,651 1,179 Other Post Employment Benefits (OPEB)

32,396

0 (32,396) 27th Pay Costs budgeted in FY 23

61,371 80,225 18,854 FICA adjustments

598