FY 23 Approved Budget Book

OFFICE OF COMMUNITY AND ECONOMIC DEVELOPMENT

FINANCIAL NOTES: FY 22

FY 23

CHANGE

EXPLANATION OF INCREASE/DECREASE PERSONAL SERVICES increase of $38,954

1,086,263

987,587

(98,676)

Full-time salaries (81,189)

Salary adjustments

(17,487) (98,676)

Salary offset

136,202

136,202

FY 23 merit increase 3% and COLA of 7% for all eligible employees

85,600

124,346

38,746

Temporary Salaries

444,665

393,121

(51,544)

Health Benefits are adjusted for an anticipated cost increase as well as staff opting for changes in coverage

134,670

114,880

(19,790)

RHS (Retirement Health Savings)

146,735

134,427

(12,308)

Pension adjustments

100,991

85,031

(15,960)

FICA adjustments

0

21,037

21,037

Other Post Employment Benefits (OPEB)

0

45,526

45,526

27th Pay Costs

CONTRACTUAL SERVICES decrease of ($77,900)

483,490

405,590

(77,900)

Decrease due to Harford Transit appropriation being reallocated to the Grant Index

734