Harford County Officials Release FY23 Financial Summary

HARFORD COUNTY, MD — The fiscal year 2023 closed June 30 for Harford County with an available general fund balance of $6.6 million on an operating budget of $761.7 million, officials reported.

After accounting for all general fund revenues and expenditures, the audited fund balance was close to the $4.4 million fund balance forecast made this past spring by county government officials and Harford’s all-volunteer Spending Affordability Committee. The difference in forecast versus actual, as a percentage of the budget, was less than 0.3 percent, officials stated.

Harford County’s total general fund balance for fiscal year 2023 was $174.9 million. Of this amount, $168.3 million was appropriated to the current fiscal year 2024 operating budget and other obligations, leaving the available balance of $6.6 million. The fiscal year 2023 fund balance is down from fiscal year 2022 when the general fund balance was $211.3 million and the available fund balance was $34.8 million.

“It may not be widely understood that Harford County government has to estimate our annual revenue from income and property taxes months before the start of each fiscal year and work throughout the year to keep expenses in line,” Harford County Executive Bob Cassilly said. “This great uncertainty along with economic unpredictability affirms our cautious, conservative approach to budgeting moving forward.”

Harford County’s audited fiscal year 2023 financial report can be viewed on the county website at https://www.harfordcountymd.go...