FY2021 Adopted Budget

FY2021 Adopted Budget Fund Budgets

Fund Balance

Fund Balance Policy General Fund Balances are automatically re-budgeted as revenue two fiscal years hence. This is displayed as BUDGETED USE OF FUND BALANCE in the adopted budget statements of revenue. County Council Bill No. 18-01 provides for the County to maintain a committed General Fund balance up to seven percent of General Fund expenditures including the transfers to the Board of Education and Frederick Community College on a budgetary basis ( DV SUHVHQWHG LQ WKH &RXQW\¶V Comprehensive Annual Financial Report). Unless otherwise provided by law and except for grant appropriations or grant funds deposited in special accounts dedicated to specific functions, activities or purposes, all unexpended and unencumbered appropriations in the Operating Budget at the end of the fiscal year shall revert into the treasury . The only exception to this is provided for in Ordinance 20-02-002, Section 7, 8, and 9. Section 7: FY2020 Budget Encumbered But Unexpended Appropriations Rolled Over. This Ordinance hereby re-appropriates (rolls over) the encumbered but unexpended appropriations from FY2020 Budget to the FY2021 Budget. The encumbrance must be recorded in the County's financial system of record by June 30, 2020, and must be expended by June 30, 2021. Section 8: FY2020 Budgeted But Unencumbered Appropriations for the County Non-Departmental Covid-19 Rolled Over. This Ordinance hereby re-appropriates (rolls over) the budgeted but unencumbered appropriations from the FY2020 Budget to the FY2021 Budget. Section 9: Appropriation of FY2020 General Fund Unaudited Fund Balance. This Ordinance hereby reserves $2,877,954 of the FY2020 General Fund unaudited fund balance and appropriates this sum in FY2021 for the one-time expenditures listed [below] (see ordinance in the appendix for the list). No appropriation for a Capital Project in the Capital Budget may revert until the purpose for which the appropriation was made is accomplished or abandoned; but any Capital Project shall be considered abandoned if three fiscal years elapse without any expenditure from or encumbrance of the appropriation.

Actual

Budgeted

Budgeted Changes

Budgeted Funds:

Fund Balance

Fund Balance

6/30/2019

FY2020

FY2021

6/30/2021

Notes:

General Fund

(a) (a)

Committed (enabling legislation)

$40,736,583 $3,905,708.40 $1,962,579.01 $46,604,870 1.

All Other

$75,818,561 ($29,669,060) ($26,005,370)

$20,144,131

Notes 1.

Bill No. 18-01 provides for the County to maintain a committed general fund balance equal to 7 percent for fiscal 2019 and thereafter of General Fund expenditures and transfers to the Board of Education and Frederick Community College for the prior fiscal year.

Source for Actual Fund Balance- FY2019 CAFR Section (a) II-A-3 and II-A-13, Note 3. G.

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