FY 25 Harford County Approved Operating Budget

DIVISION SUMMARY BY FUND

Office of Economic Development by Fund

FY 22 Audited

FY 23 Audited

FY 24 Approved Budget

FY 25 Approved Budget

GENERAL FUND (011) GENERAL FUND GENERAL FUND TOTAL

$1,673,541

$1,740,452

$2,924,823

$2,549,446

$1,673,541 $1,673,541

$1,740,452 $1,740,452

$2,924,823 $2,924,823

$2,549,446 $2,549,446

TOTAL

FINANCIAL NOTES PERSONAL SERVICES DECREASES ($299,927) Full-time salaries decrease ($17,744) Salary adjustments: ($26,814) Turnover: ($18,829) FY 24 COLA: $27,899

Net total of two (2) transfers out of OED: ($228,673) P0688, P1496 Net total of two (2) abolished PINs from OED: ($217,883) P3075, P3230 FY 25 COLA of 1% and merit of $1,000: $21,582

Temporary salaries increase $119,729 Temporary pension increase $14,211 Health benefts adjusted $23,500 based on 10% cost increase Other Post Employment Benefts (OPEB) and Retirement Health Savings (RHS) decrease ($19,499) based on transfer and abolish of positions

CONTRACTUAL SERVICES INCREASES $175,500 Other advertising increase $15,000 for additional events

Other Professional Services increase $158,500 for contractual services to advance business development; other funding provides for services such as MD Economic Development Association, Economic Alliance of Greater Baltimore, Army Alliance, Northeast MD Technical Council, Small Business Development Center, etc. SUPPLIES & MATERIALS INCREASES $3,750 Adjustments made to general ofce supplies, general ofce mailing, and other food supplies based on actual spending and an increase in events. BUSINESS & TRAVEL DECREASES ($2,700) Funding for vehicles, mileage, membership fees, and training reallocated to the new Ag Budget. MISCELLANEOUS DECREASES ($250,000) Funding of $250,000 provided for Ag contributions reallocated to the new Ag Budget; other funds provide contributions to organizations such as Susquehanna Workforce Network, Small Business Initiatives.

650