FY2022 Adopted Operating and Capital Budget

FY2022 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 budgets. 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 (as p UHVHQWHG LQ WKH &RXQW\¶V &RPSUH hensive 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 21 01 001, Section 7 and 8. Section 7: FY2021 Budget Encumbered But Unexpended Appropriations Rolled Over. This Ordinance hereby re appropriates (rolls over) the encumbered but unexpended appropriations from the FY2021 Budget to the FY2022 Budget. 7KH HQFXPEUDQFH PXVW EH UHFRUGHG LQ WKH &RXQW\¶V ILQ ancial system of record by June 30, 2021, and must be expended by June 30, 2022. Section 8: FY2021 Budgeted But Unencumbered Appropriations for the Non Departmental Covid 19 Rolled Over. This Ordinance hereby re appropriates (rolls over) the budgeted but unencumbered appropriations from the FY2021 Budget to the FY2022 Budget. 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 6/30/2020 (a)

Fund Balance

FY2021

FY2022

6/30/2022

Notes:

General Fund Nonspendable

2,322,098 1,007,637 39,086,518

0 0

0 0

2,322,098 1,007,637 50,201,224 10,132,149

Restricted

Committed (enabling legislation)

7,518,352

3,596,354

1.

Committed (all others)

65,802,245 (26,005,370)

(29,664,726)

Assigned

20,378,839

0 0

0 20,378,839

Unassigned

300,000

0

300,000

128,897,337 (18,487,018)

(26,068,372)

84,341,947 $

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. Notes

Source for Actual Fund Balance FY2020 CAFR Section (a) II A 3

69