FY 27 Proposed Operating Budget

FINANCIAL NOTES PERSONAL SERVICES DECREASES ($211,927) Full-time salaries increase: $37,074 Salary adjustments: $65,006 Turnover: ($27,932) FY 27 COLA of 3% and Merit of $2,000: $52,747 Temporary salaries decrease: ($257,700) Funding provides for Temporary/Non-classified economic development associate; decreased based on actuals. Pensions decrease due to turnover and decrease in temporary salaries: ($4,595) Workers' Compensation decrease due to turnover and decrease in temporary salaries: ($2,453) Health Benefits decrease due to reduction in temporary employees: ($10,340) Retirement Health Savings (RHS) decrease based on FY27 rate: ($4,688) FICA decrease due to reduction in temporary salaries: ($20,703) CONTRACTUAL SERVICES DECREASES ($2,800) Decrease in funding for Other Professional Services offset by an increase in Other Advertising and music licensing fees. SUPPLIES & MATERIALS INCREASES $12,175 Funding increases for Commercial Printing, General Office Supplies, Other Supplies and Materials, and Special Purpose Meals for Economic Development community and business events. BUSINESS & TRAVEL INCREASES $29,280 Membership Fees and Dues increases due to reallocation of Greater Baltimore Committee membership fee from Other Professional Services: $19,000 Training Seminars, Courses and Meetings increases for staff professional development, trainings, and conference attendance: $6,980 MISCELLANEOUS DECREASES ($155,500) Funding decreases due to FY 26 one-time pilot funding for entrepreneurial support program.

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