FY 25 Harford County Government Proposed Operating Budget

BUSINESS PLAN DEBT BURDEN ANALYSIS Fiscal Years 2023-2030

Actual

Original Budget Proposed Budget

Projection

Projection

Projection

Projection

Projection

2023

2024

2025

2026

2027

2028

2029

2030

Expenditures (1) (2)

County Council

$ 3,725,802 $ 4,378,697 $ $ 57,436,680 56,827,593 $ $

4,609,165 $ 4,747,440 $ 4,889,863 $ 5,036,559 $ 5,187,656 $ 5,343,285 57,751,757 59,484,310 $ $ 61,268,839 63,106,904 $ $ 65,000,111 66,950,115 $

General Government

Education

$ 344,119,463 334,734,208 $ $ 334,734,208 344,776,234 $ $ 355,119,521 365,773,107 $ $ 376,746,300 388,048,689 $

Harford Center

$

675,745 $

702,215

$

721,341

$

742,981 $

765,271 $

788,229 $

811,876 $

836,232

Judicial Libraries

$ 12,409,421 14,515,355 $ $ $ 20,886,654 20,885,407 $ $ $ 11,290,095 13,013,974 $ $

15,313,758 15,773,171 $ $ 16,246,366 16,733,757 $ $ 17,235,770 17,752,843 $ 20,885,407 21,511,969 $ $ 22,157,328 22,822,048 $ $ 23,506,710 24,211,911 $ 13,200,850 13,596,876 $ $ 14,004,782 14,424,925 $ $ 14,857,673 15,303,403 $

Parks and Recreation

Public Safety Public Works Social Services

$ 152,985,222 166,225,297 $ $ 182,082,790 187,545,274 $ $ 193,171,632 198,966,781 $ $ 204,935,784 211,083,858 $ $ 70,194,662 95,178,425 $ $ 100,107,512 103,110,737 $ $ 106,204,059 109,390,181 $ $ 112,671,887 116,052,043 $

$ 12,927,988 15,157,245 $ $ $ 42,206,555 51,216,606 $ $

15,232,480 15,689,454 $ $ 16,160,138 16,644,942 $ $ 17,144,290 17,658,619 $ 37,201,392 38,317,434 $ $ 39,466,957 40,650,965 $ $ 41,870,494 43,126,609 $

Other Financing Uses

Debt Service (3)

General Obligation Debt Other Debt Expenses

76,625,652 80,773,450

71,593,610 74,624,803

60,287,864 62,566,978

63,484,340 69,258,970

4,843,861

7,470,000

8,750,000

8,750,000

8,750,000

8,750,000

8,750,000

8,750,000

Total Expenditures

$ 793,990,012 842,872,000 $ $ 854,075,000 883,304,850 $ $ 909,798,366 937,713,202 $ $ 965,344,203 995,891,057 $

Capital Plan

General Fund Bonds

91,045,000 83,255,000 $

63,950,000 99,620,000 $ $ 90,670,000 59,450,000 $ $ 66,200,000 42,800,000 $

9,200,000 4,120,000 10,450,000 8,052,500 1,800,000 18,160,000 4,000,000 39,650,000

Watershed Management Bonds

8,450,000 11,615,000 10,965,000

8,600,000 2,235,000 8,500,000

8,700,000

8,800,000

8,900,000 8,115,000 22,450,000

9,000,000

9,100,000

5,610,000 4,375,000 13,200,000 16,300,000

Highway Fund Bonds Water and Sewer Bonds

12,380,000 13,155,000 16,050,000 17,450,000

Pay-as-you-go General Fund

28,260,000 14,142,000

14,352,000 15,403,750

10,203,750 1,500,000

8,602,950 1,600,000

8,352,500 1,700,000

Watershed Management Fund

850,000

1,250,000

1,500,000

1,500,000

Highway Fund

10,601,000 13,935,000

14,284,000 16,910,000 16,485,000

17,160,000 16,895,000

Water and Sewer Fund Other Sources (All Funds)

4,280,000

9,686,000

7,508,000

6,450,000

5,600,000

6,200,000

4,550,000

111,357,315 118,044,000

124,815,000 76,830,000 70,325,000

61,452,500 61,602,500

Total Capital Plan

$ 277,423,315 259,647,000 $ $ 263,539,000 256,118,750 $ $ 234,248,750 182,275,450 $ $ 189,075,000 138,232,500 $

Actual

Projection Proposed Budget

Projection

Projection

Projection

Projection

Projection

2023

2024

2025

2026

2027

2028

2029

2030

General Obligation Outstanding July 1

$ 489,794,585 496,659,313 $ $ 491,356,079 505,617,491 $ $ 517,792,175 528,397,656 $ $ 536,618,034 543,351,820 $

Additions

48,500,000 38,000,000 41,635,272 43,303,234

60,000,000 60,000,000 60,000,000 60,000,000 60,000,000 60,000,000 45,738,588 47,825,316 49,394,519 51,779,622 53,266,214 56,294,381

Less Principal Repayments & Reductions

General Obligation Outstanding June 30

$ 496,659,313 491,356,079 $ $ 505,617,491 517,792,175 $ $ 528,397,656 536,618,034 $ $ 543,351,820 547,057,439 $

Population (4)

280,855

283,663

264,578

267,224

269,896

272,595

275,321

278,074

Per Capit Income

75,336

76,089

76,850

77,619

78,395

79,179

79,971

80,770

Taxable Property Value (5) Taxable Assessed Valuation (000 omitted) $ 32,468,611 33,250,883 $ $

34,933,993 35,632,673 $ $ 36,345,326 37,072,233 $ $ 37,813,678 38,569,951 $

Debt Ratios

General Obligation Debt Service as % of Expenditures General Obligation Debt Per Capita General Obligation Debt as % of Assessed Valuation

7.6%

7.4%

7.4%

7.8%

7.9%

8.0%

7.9%

8.1%

$1,877

$1,839

$1,873

$1,899

$1,919

$1,930

$1,935

$1,929

1.5%

1.5%

1.4%

1.5%

1.5%

1.4%

1.4%

1.4%

Policy Ratios

g Expenditures

10.0%

10.0%

10.0%

10.0%

10.0%

10.0%

10.0%

10.0%

General Obligation Debt Per Capita General Obligation Debt as % of Assessed Valuation

2500

2500

2500

2500

2500

2500

2500

2500

2.3%

2.3%

2.3%

2.3%

2.3%

2.3%

2.3%

2.3%

(1) Growth for departments is 3% for all years beyond that. (2) These expenditures include General,Highway, & Watershed Funds only. (3) Includes principal and interest (4) Estimated at the compound annual growth rate of 1% for future periods (5) Estimated at the compound annual growth rate of 2% for all years beyond that.

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