FY 26 Proposed Operating Budget Book

DIVISION SUMMARY BY FUND

Office of Economic Development by Fund

FY 23 Audited

FY 24 Audited

FY 25 Approved Budget

FY 26 Proposed Budget

GENERAL FUND GENERAL FUND

$1,740,452

$2,212,004

$2,549,446

$2,650,469

GENERAL FUND TOTAL

$1,740,452 $1,740,452

$2,212,004 $2,212,004

$2,549,446 $2,549,446

$2,650,469 $2,650,469

TOTAL

FINANCIAL NOTES PERSONAL SERVICES INCREASES $160,398 Full-time salaries increase: $39,559 Salary adjustments: $39,559 FY 26 COLA of 3% and merit of $1,000 to all eligible employees: $42,197 Temporary salaries increase: $34,934 Pension adjusted $15,975 based on FY 26 rates Workers' Compensation adjusted $2,554 based on FY 26 rates

Health benefits adjusted $20,265 based on FY 26 rates Other Post Employment Benefits (OPEB) adjusted ($1,156) FICA adjusted $5,700 CONTRACTUAL SERVICES DECREASES ($63,600) Decrease of ($4,000) to Other Rents and Utilities due to closure of Swan Creek office space Decrease of ($10,000) to Other Advertising based on actual expenses Decrease of ($50,000) to Other Professional Services based on actual expenses Current funding provides for services and partnerships such as the Army Alliance, Economic Alliance of Greater Baltimore, Small Business Development Center, etc. SUPPLIES & MATERIALS INCREASES $2,025 Adjustments made to Printing-Commercial and Meals-Special Purpose based on actual spending BUSINESS & TRAVEL INCREASES $2,200 Adjustments made to Lodging, Membership Fees and Dues, and Training Seminars, Courses and Meetings for a net increase of $2,200 based on increased event attendance MISCELLANEOUS No Change Funds provide contributions and grants to organizations such as Harford County Chamber of Commerce, Susquehanna Workforce Network, and Small Business Initiatives

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