FY 26 Approved Operating Budget

Public Investment Supporting Private Initiatives In carefully controlled situations, County Government utilizes public funds to promote private enterprise initiatives. If, after thorough analysis and assessment, such investment is deemed beneficial to the social, economic, or environmental climate of the community, direct financing is

made available by County Government. Participation in Industrial Revenue Bonds

Harford County Government is authorized (under provisions of the Internal Revenue Code and the Maryland Economic Development Act) to issue Industrial Revenue Bonds and to participate in financing through the Maryland Industrial Development Financing Authority. Although significant restrictions to such bond issues are imposed, County government endorses applications for issuance of Industrial Revenue Bonds when development proposals demonstrate positive economic, social, and fiscal advantages to the County’s future. Harford County cannot pledge credit or taxing power to the payment of principal, interest, or other costs of such bonds. Multiple Use of Facilities County government requires planning coordination among its departments and agencies (including outside agencies) and private organizations (when appropriate) to ensure the functional lifetimes of all buildings and facilities extend well beyond the current generation. An example of a multiple use facility would be when the Board of Education builds a new elementary school. The County provides funds to enlarge the school’s gym; the enlarged gym is then shared by the school and various Parks and Recreation community groups. Other examples would be the joint Norrisville Library/Community Center and the McFaul Senior/Youth Center. Coordinated Interdepartmental Procurement Many operating necessities, such as office automation, computerization, and telecommunications are common to all departments and agencies of County Government. Current policy requires interdepartmental coordination and review of procurement requests to ensure compatibility of equipment, reduce duplications, and achieve the greatest cost savings prior to actual purchase. The Procurement Department has furnished pre-qualification policies and procedures for construction contracts for capital projects. The County works on joint bids with the Board of Education, Harford Community College, the Harford County Library System, and other governmental agencies when practicable. Retirement Plans County Government – employees participate in one of two plans. Both plans are administered by the State of Maryland under provisions of Article 73B of the Annotated Code of Maryland. The two plans are described as follows: - The Employees’ Retirement System of the State of Maryland established on October 1, 1941. Harford County joined this Plan March 1, 1948. Plan members contribute up to 7% of their covered salary, while Harford County Government is required to contribute at an actuarially determined rate. - The Employees’ Pension System of the State of Maryland established on January 1, 1980. Harford County joined this Plan on July 1, 1999. Plan

members contribute 7% of their covered salary, while Harford County Government is required to contribute at an actuarially determined rate.

30