FY 26 Harford County Proposed Capital Budget Book

Board of Education Debt Service 25

GENERAL Project Number: Council District:

Expended/Encumbered as of 2/4/25: $0

A254101 Multiple Various

Location:

Project Schedule/Status: This project will be ongoing to pay debt service.

Expended/Enc.

Budget

PROJECT DESCRIPTION: This project allows for the collection of Recordation Tax and Transfer Tax in the Capital Projects funds in accordance with State law. Recordation and Transfer Taxes may be used for the payment of Debt Service on education capital projects or as pay-as-you-go funding for education projects. In the past, the County has recorded the collection of Recordation and Transfer taxes in an escrow account and then transferred the money to the General Fund to pay debt service. This project will provide a more informative means to an audit presentation.

EXPENDITURE SCHEDULE

FY 2027

FY 2028 FY 2029 FY 2030 FY 2031

TOTAL

Cost Element

Prior

FY 2026 Approp Total

Engineering/Design Land Acquisition

0 0 0 0

0 0 0 0

Construction

Inspection Fees

Equipment/Furnishing

18,670,000 18,670,000

18,670,000

18,670,000

Total Cost:

0 18,670,000

0

0

0

0

0 18,670,000

FUNDING SCHEDULE R1515 Recordation Tax R1525 Transfer Tax

10,670,000 8,000,000

10,670,000 8,000,000

10,670,000 8,000,000

0 0 0

0 0 0

Total Cost:

18,670,000

0 18,670,000

0

0

0

0

0 18,670,000

80