Harford County, Maryland FY 24 Proposed Operating Budget

PAYGO

ORIGIN/PURPOSE : A pay-as-you-go (paygo) policy was implemented in July, 1984 and is included as part of the Debt Management policies within Harford County's five year business plan.The five year business plan confirms that paygo will continue to be used for minor renovation and repair projects which have an asset life of less than ten years for general county, education, fire, library, college, highways, and certain water and sewer projects. It can also be used to purchase furniture and equipment. Paygo funding requirements for FY 24 are allocated to the following budgets: General Fund, Highways Fund, Parks and Recreation Special Revenue, Watershed Management and Water and Sewer. The General Fund Paygo account also includes funding allocations for Closure Reserve . Closure Reserve is a set aside account, required by Governmental Accounting Standards Board (GASB) Statement No. 18, which requires the County to measure and recognize a portion of closure and post closure costs during each accounting period based on landfill capacity as of each balance sheet date.

ALL FUND SUMMARY:

ORIGINAL BUDGET FY 23

EXECUTIVE PROPOSED FY 24

AUDITED FY 21

AUDITED FY 22

CHANGE FY 23 VS FY 24

SUMMARY BY CHARACTER:

2 5 , 476 , 590

4 6 ,0 73 ,000

5 5 , 8 13,000

9 , 740 ,000

70 MISCELLANEOUS

29,495,834

2 5 , 476 , 590

4 6 ,0 73 ,000

5 5 , 8 13,000

9 , 740 ,000

GRAND TOTAL

29,495,834

630