FY 25 Harford County Approved Operating Budget

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

GENERAL FUND

TOTAL FUND BALANCE AT JUNE 30, 2023

174,885,630

2024 Revenue - Estimated 2024 Expenditures - Estimated

704,268,911 (723,058,782)

TOTAL ESTIMATED FUND BALANCE AT JUNE 30, 2024

156,095,759

FUND BALANCE AVAILABLE FOR APPROPRIATION AT JUNE 30, 2024 TOTAL ESTIMATED FUND BALANCE AT JUNE 30, 2024

156,095,759

LESS: Nonspendable Fund Balance Long Term Rec LESS: Restricted Fund Balance Bond Proceeds

(722,010)

(11,000,000)

Dedicated Revenues - Public Safety

(60,000)

LESS: Assigned Fund Balance Fiscal Stablization Fund (1)

(39,005,400) (2,500,000) (12,000,000) (30,000,000)

Encumbrances

Landfill Closure Costs Stormwater Management

ESTIMATED UNASSIGNED FUND BALANCE AT JUNE 30, 2024

60,808,349

Fiscal Year 2025 Estimated Revenues Less Fiscal Year 2025 Estimated Expenditures

721,631,630 (780,108,000)

ESTIMATED UNASSIGNED FUND BALANCE FOR FY 2026 & FUTURE YEARS

2,331,979

Reserve for Fiscal Stablization Fund (1)

39,005,400

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

5%

(1) The 5% Reserve for Fiscal Stablization 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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