FY 25 Harford County Government Proposed Operating Budget

· The County Debt Management Policy dated April 13, 2010, and a debt burden analysis for years 2023-2029, provided by the Treasurer’s office.

·

The County FY 2023 Annual Comprehensive Financial Report.

· The County provided access to the Directors of the Departments of Planning & Zoning, License, Inspections & Permits, and Economic Development. These individuals provided the Committee with insight into future growth and development of the County.

B. Selected Method - Further Qualifications

The Committee reviewed, in detail, revenue estimates for the property tax and the local income

tax. Collectively, property and income tax collections represent approximately 87.0% of total General

Fund revenues to the County. The Committee reviewed historical data, analyzed trends, and forecasted

revenues for both FY 2024 and FY 2025 from these two revenue sources.

Due to a lack of historical patterns, the Committee presumed no significant changes in other

revenue sources, such as licensing, permits, (note: as these are becoming more significant, the

Committee does recommend future committees consider the impact of these other fees), and

miscellaneous fees, or in miscellaneous State funding, such as police or law enforcement aid. The

Committee also noted the influx of federal and state assistance related to Covid-19; however, as the

County has placed those revenues in its Grant Fund and Capital Fund, there is no impact on the

General Fund.

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