FY 25 Harford County Government Proposed 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

697,768,911 (723,058,782)

TOTAL ESTIMATED FUND BALANCE AT JUNE 30, 2024

149,595,759

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

149,595,759

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)

(38,680,400) (2,500,000) (12,000,000) (30,000,000)

Encumbrances

Landfill Closure Costs Stormwater Management

54,633,3 49

ESTIMATED UNASSIGNED FUND BALANCE AT JUNE 30, 2024

Fiscal Year 2025 Estimated Revenues Less Fiscal Year 2025 Estimated Expenditures

721,631,630 (773,608,000)

ESTIMATED UNASSIGNED FUND BALANCE FOR FY 202 6 & FUTURE YEARS

2,656,9 79

Reserve for Fiscal Stablization Fund (1) Estimated Reserve for Fiscal Stablization Fund as a Percentage of Total Estimated Expenditures

38,680,400

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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