FY2021 Adopted Budget

FY2021 Adopted Budget Long Range Financial Plan

Multi-Year Projections

7KLV ILYH \HDU IRUHFDVW RI WKH *HQHUDO )XQG LV LQWHQGHG WR FRPPXQLFDWH WKH VXVWDLQDELOLW\ RI )UHGHULFN &RXQW\¶V EXGJHW &RQVHUYDWLYH EXGJHWLQJ FRPELQHG ZLWK UHVWUDLQHG HVWLPDWHV RI IXWXUH WD[ UHYHQXH LQGLFDWH WKH &RXQW\¶V FXUUHQW ILQDQFLDO SROLFLHV DQG SULRULWLHV FDQ EH VXVWDLQHG 7KH forecast does take into consideration effects on revenue sources (primarily income tax) due to the linger effects of the pandemic on the economy as a whole.

FY 2021 FY 2026 BUDGET PROJECTION PROJECTION PROJECTION PROJECTION PROJECTION FY 2022 FY 2023 FY 2024 FY 2025

REVENUES Local Property Taxes Local Income Taxes Other Local Taxes License and Permits

352,711,294 $

367,525,168 $

382,961,225 $

399,045,597 $

415,805,512 $

433,269,343 $

236,230,870 242,372,872 254,491,516 267,216,092 280,576,896 294,605,741

24,633,400 5,619,700 211,093 4,871,155 10,740,689

24,301,614 5,703,996 211,093 4,871,155 10,901,799

25,896,148 5,789,555 211,093 4,871,155 11,065,326

27,113,418 5,876,399 211,093 4,871,155 11,231,306

27,636,107 5,964,545 211,093 4,871,155 11,399,776

28,169,053 6,054,013 211,093 4,871,155 11,570,772

Federal Grants State Grants

Charges for Services Fines and Forfeitures Investment Earnings

45,500

45,500

45,500

45,500

45,500

45,500

2,001,011 2,713,781

2,101,062 2,754,488

2,206,115 2,795,805

2,316,420 2,837,742

2,432,241 2,880,308

2,553,853 2,923,513

Miscellaneous

OPERATING REVENUE Other Financing Sources Use of Fund Balance TOTAL REVENUES

639,778,493 660,788,747 690,333,439 720,764,722 751,823,133 784,274,037

-

-

-

-

-

-

26,005,370

20,804,296

16,643,437

15,000,000

15,000,000

15,000,000

665,783,863 $

681,593,043 $

706,976,876 $

735,764,722 $

766,823,133 $

799,274,037 $

Operating Revenue % Change General Fund Revenue % Change

4.5% 4.4%

3.3% 2.4%

4.5% 3.7%

4.4% 4.1%

4.3% 4.2%

4.3% 4.2%

APPROPRIATIONS County Departments Board of Educaiton

235,220,627 $

239,219,377 $

249,482,895 $

257,744,235 $

267,212,179 $

274,172,689 $

309,699,428 317,235,829 328,424,346 339,807,770 351,394,835 363,194,914

Frederick Community College Frederick County Library Transfer to Debt Service Transfer to Capital Projects Transfer to Other Funds Other

20,288,119 12,868,068 14,183,690 44,990,400 18,891,590 9,641,941

20,999,284 13,590,981 14,316,836 46,340,112 19,923,662 9,738,360

21,710,729 13,991,838 14,574,539 47,730,315 20,810,003 10,079,203

22,422,460 14,404,583 14,836,881 49,162,224 22,222,942 10,280,787

23,134,484 14,829,571 15,103,945 50,637,091 22,554,694 10,640,615

23,846,808 15,267,166 15,375,816 52,156,204 23,528,221 10,853,427

TOTAL APPROPRIATIONS 665,783,863 $

681,364,443 $

706,803,868 $

730,881,882 $

755,507,414 $

778,395,245 $

Appropriation % Change

4.4%

2.3%

3.7%

3.4%

3.4%

3.0%

ANNUAL SURPLUS/(DEFICIT)

$

(0)

$

228,600

$

173,008

$

4,882,840

11,315,719 $

20,878,793 $

57