FY 26 Proposed Operating Budget Book

DEBT SERVICE 661110 Principal, 662110 Interest General Funds

ORIGIN & PURPOSE: The official statement dated January 23, 2024 consists of Harford County General Obligation Bonds in the amount of $75,545,000. This includes $40,000,000 in Consolidated Public Improvement Bonds Series 2024A and $35,545,000 in Refunding Bonds Series 2024B. The County received the highest rating possible from all three investor services, making Harford County bond ratings: Fitch Ratings AAA, Standard & Poor's AAA, and Moody's Investors Service Aaa. It is Harford County's practice to conduct an annual bond sale contingent on capital project needs and the economic conditions of the bond market. Prior to selling bonds, the County will issue Bond Anticipation Notes (short term financing) to start the construction of capital projects based on cash flow needs.

General Fund by Type

Debt Service General Fund by Type

FY 23 Audited

FY 24 Audited

FY 25 Approved Budget

FY 26 Proposed Budget

DEBT SERVICE Principal Payment Software

$1,248,928

$2,185,267

$4,000,000

$3,540,000

County Bond

$11,456,005

$42,728,473

$12,861,259

$13,338,599

School Bond

$24,702,283

$25,237,051

$25,612,615

$25,957,784

College Bond

$2,023,314

$1,980,391

$1,789,095

$2,084,283

Solid Waste Services

$895,210

$872,093

$868,929

$839,169

Leases

$3,146,289

$3,189,056

$3,500,000

$3,500,000

PRINCIPAL PAYMENT TOTAL

$43,472,029

$76,192,331

$48,631,898

$49,259,835

Interest Payments County Bond

$5,418,414

$5,535,972

$5,991,491

$6,467,552

School Bond

$10,642,363

$10,202,173

$10,182,355

$9,977,584

College Bond

$727,687

$662,558

$596,914

$950,085

Software Interest

$19,360

$30,394

$300,000

$300,000

Solid Waste Services

$289,996

$250,496

$298,227

$172,348

Leases

$153,924

$161,152

$250,000

$250,000

INTEREST PAYMENTS TOTAL

$17,251,745 $60,723,773 $60,723,773

$16,842,744 $93,035,076 $93,035,076

$17,618,987 $66,250,885 $66,250,885

$18,117,569 $67,377,404 $67,377,404

DEBT SERVICE TOTAL

TOTAL

570