FY2023 Adopted Operating and Capital Budget

FY2023 Adopted Budget Fund Budgets

Long Range Financial Plan This five year forecast of the General Fund is intended to communicate the sustainability of Frederick County s budget. FY23 revenues continue to see higher than normal growth but with inflation and other economic factors, revenues are projected to return to a more normalized year over year increase. Appropriations projections are based on historical increases, policy dictation, future debt service (based on the approved Capital Improvement Program), and the consumer price index. No changes in Federal and State legislation that could impact revenue or expense were considered in the projections. FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 BUDGET PROJECTION PROJECTION PROJECTION PROJECTION PROJECTION REVENUES Local Property Taxes 395,520,253 $ 414,505,225 $ 435,230,486 $ 456,992,011 $ 479,841,611 $ 503,833,692 $ Local Income Taxes 307,265,361 318,019,648 333,920,631 350,616,662 368,147,495 386,554,870 Other Local Taxes 31,440,543 32,912,560 33,545,557 34,655,889 35,804,444 36,992,554 License and Permits 7,481,200 8,117,102 8,807,056 9,555,655 10,367,886 11,249,156 Federal Grants 204,546 204,546 204,546 204,546 204,546 204,546 State Grants 4,636,363 4,636,363 4,636,363 4,636,363 4,636,363 4,636,363 Charges for Services 10,649,867 11,555,106 12,537,290 13,602,959 14,759,211 16,013,744 Fines and Forfeitures 39,100 39,100 39,100 39,100 39,100 39,100 Investment Earnings 2,000,011 2,100,012 2,205,012 2,315,263 2,431,026 2,552,577 Miscellaneous 2,920,245 3,168,466 3,437,785 3,729,997 4,047,047 4,391,046 OPERATING REVENUE 762,157,489 795,258,127 834,563,826 876,348,445 920,278,729 966,467,648 Other Financing Sources Use of Fund Balance 29,924,400 26,931,960 24,238,764 21,814,888 19,633,399 17,670,059 TOTAL REVENUES 792,081,889 $ 822,190,087 $ 858,802,590 $ 898,163,333 $ 939,912,128 $ 984,137,707 $ Operating Revenue % Change 10.9% 4.3% 4.9% 5.0% 5.0% 5.0% General Fund Revenue % Change 10.4% 3.8% 4.5% 4.6% 4.6% 4.7%

APPROPRIATIONS County Departments Board of Education

292,028,437 $ 365,338,683

302,069,045 $ 379,331,580

317,157,205 $ 394,964,149

331,097,561 $ 410,707,262

348,122,109 $ 427,905,482

368,443,110 $ 445,628,022

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

22,864,463 13,944,217 11,868,290 49,599,362 22,894,842 13,543,595

24,376,662 14,044,067 12,081,919 52,600,501 23,957,744 13,679,031

25,889,166 14,457,768 12,299,394 54,784,276 25,136,915 14,089,402

27,401,983 14,746,923 12,520,783 58,496,333 26,890,453 14,371,190

28,915,120 15,181,401 12,746,157 61,980,613 27,608,362 14,802,326

30,428,585 15,485,029 12,975,588 61,980,613 28,994,029 15,098,372

TOTAL APPROPRIATIONS 792,081,889 $

822,140,550 $

858,778,275 $

896,232,489 $

937,261,569 $

979,033,349 $

Appropriation % Change

10.4%

3.8%

4.5%

4.4%

4.6%

4.5%

ANNUAL SURPLUS/(DEFICIT)

$

(0)

$

49,537

$

24,315

1,930,844 $

2,650,559 $

5,104,359 $

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