FY2023 Adopted Operating and Capital Budget

FY2023 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. 22 11 provides for the County to maintain a committed General Fund balance up to eight percent of General Fund expenditures including the transfers to the Debt Service Fund, Board of Education and Frederick Community College on a budgetary basis (as presented in the County s Annual Comprehensive 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 22 03 003, Section 7, 8, and 9. Section 7: FY2022 Budget Encumbered But Unexpended Appropriations Rolled Over. This Ordinance hereby re appropriates (rolls over) the encumbered but unexpended appropriations from the FY2022 Budget to the FY2023 Budget. The encumbrance must be recorded in the County s financial system of record by June 30, 2022, and must be expended by June 30, 2023. 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 FY2022 Budget to the FY2023 Budget. Section 9: FY2022 Budgeted But Unencumbered Appropriations for the Board of Elections Early Voting and Primary Budgets. This Ordinance hereby re appropriates (rolls over) the budgeted but unencumbered appropriations from the FY2022 Budget to the FY2023 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 Fund Balance Fund Balance 6/30/2021 (a) FY2022 FY2023 6/30/2023 Notes: Budgeted Funds: Budgeted Changes

General Fund Nonspendable

1,992,197 1,022,443 43,574,733

0 0

0 0

1,992,197 1,022,443 54,535,732 57,247,253 23,792,064

Restricted

Committed (enabling legislation)

6,626,491

4,334,508

1.

Committed (all others)

116,836,379 (29,664,726)

(29,924,400)

Assigned

23,792,064

0 0

0 0

Unassigned

300,000

300,000

187,517,816 (23,038,235)

(25,589,892)

138,889,689 $

1. Bill No. 22 11 provides for the County to maintain a committed General Fund balance up to eight percent of General Fund expenditures including the transfers to the Debt Service Fund, Board of Education and Frederick Community College for the prior fiscal year. Notes

Source for Actual Fund Balance FY2021 ACFR Section (a) II A 3

69