FY 25 Harford County Approved Operating Budget

HARFORD COUNTY MARYLAND FISCAL YEAR 2025 BUDGET SUMMARY

While the Administration follows the standardized Annual Budget Process, the development of each fiscal year's budget in unique. Consideration must be given to the current- and projected economic conditions, the changing wants and needs of our citizens, and our operational requirements, all of which must be weighed against the fiscal policies and management techniques adopted by the Administration. In developing our Fiscal Year 2025 Operating and Capital Budgets we maintained essential services while focusing on fiscal responsibility for our citizens and employees. This budget provides for major investments in public safety and funding for our schools without raising taxes.

REVENUES

ALL FUNDS FY 25 Approved Budget FY 24 Approved Budget

975,324,500 965,562,000

$ Increase % Increase

9,762,500

1.01%

FUNDING SOURCE

REVENUE SOURCE Property Taxes

General Highways

780,108,000 72,738,000 1,039,000 15,000,000

354,198,690 317,325,000 59,827,500 10,063,000

Income Taxes

Parks & Recreation

W & S User Charges W & S Capital Charges Intergovermental/ State-Shared Other Local Taxes & Assessments Fund Balance/Net Assets

Ag Preservation - County

Ag Preservation - State

270,000

14,799,000

Tax Increment Financing Water & Sewer Operating Water & Sewer Debt Service Watershed Management Fund

2,500,000 82,059,000 13,881,500 7,729,000

18,985,000 93,204,973 106,921,337

Other Revenue

FY 25 TOTAL ALL FUNDS

FY 25 TOTAL ALL REVENUES

975,324,500

975,324,500

REVENUES

For Fiscal Year 2025, Property and Income Tax revenues are estimated to generate 68% of the total of all revenue.

Property Taxes FY 25 Approved Budget FY 24 Approved Budget

354,198,690 36.32% of the Total All Funds FY 25 Operating Budget 339,971,400 35.21% of the Total All Funds FY 24 Operating Budget

$ Increase % Increase

14,227,290

4.18%

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