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Baltimore County Budget

Five Year Summary of General Fund Revenues and Expenditures
Link to the Office of Budget and Finance

General Fund Comparative Statement of Revenues and Expenditures

From FY 2007 through FY 2009, the County had an excess of revenues over expenditures. In  FY 2010 and FY 2011, the County's General Fund revenues were less than expenditures, however, the County was able to offset a large portion of the deficiencies by transferring funds in from capital and economic development for projects that were delayed, eliminated or completed under budget. The County's General Fund Balance decreased from the $309 million at the beginning of FY 2007 to $232 million at the end of FY 2010 as a result of a planned drawdown. By the end of FY 2011, the fund balance increased to $249 million, representing 16.1% of general fund revenues based on the budgetary basis of accounting.

From FY 2007 through FY 2011, total revenues decreased by 2.8 percent or $44 million from $1.57 billion to $1.53 billion. In FY 2010, total revenues decreased by 9.1percent or $144 million. From FY 2007 to FY 2011, general property tax revenues increased by 26 percent or $174 million. Assessments increases were still being realized due to the County's homestead property tax credit that caps assessment growth on residential property at 4 percent. For FY 2011, the revenue loss due to the homestead property tax credit was $69 million compared with $200 million in FY 2010. From FY 2007 to FY 2011, income tax revenues decreased by 15 percent or $93 million. Due to a miscalculation of the County share of income tax revenue by the State of Maryland, the FY 2009 revenues are overstated by $66 million and the FY 2010 revenues are understated by $66 million. During that same four-year  period, intergovernmental aid decreased by 58 percent or $46 million, primarily as a result of State cuts of approximately $35 million in highway user revenues in FY 2010. The County is anticipating further cuts in State aid or shifting of expenses from the State to the counties. Due to declining interest rates, interest on investments has decreased by $16 million over the period.

Total expenditures increased by $113 million over the period. The County used excess revenues to fund one-time capital expenditures. Transfers to the capital budget (pay-as-you-go funding) totaled $565 million over the five-year period from FY 2007 through FY 2011. In FY 2010 and FY 2011,  the County transferred to the General Fund $118 million and $51 million, respectively from capital and economic development for projects that were delayed, eliminated or completed under budget. From FY 2007 to FY 2011, public safety expenditures increased by 17 percent or $47 million. Excluding public safety expenditures, all other expenditures increased by just 6 percent or $66 million. 

The following statement presents the County's actual revenues, expenditures and fund balance for the General Fund in accordance with generally accepted accounting principles. The revenues are presented according to source and the expenditures are presented according to major purpose for each of the last five fiscal years ending June 30. Contributions to the capital budget for public schools have been classified under "Operating Transfers to Capital Budget"

General Fund Comparative Statement of Revenues, Expenditures and Changes in Fund Balance

   2007

          2008

        2009  

2010 

2011
(Unaudited)

Revenues

General Property Taxes

$663,289,000

$713,116,000

$765,573,000

$814,100,000

$837,056,000

Income Taxes

607,932,000

640,985,000

640,176,000

495,656,000

514,715,000

Sales and Service Taxes

170,607,000

144,940,000

112,618,000

104,393,000

97,078,000

Licenses & Permits

4,026,000

3,864,000

3,539,000

3,009,000

3,858,000

Intergovernmental

80,647,000

78,434,000

70,424,000

30,904,000

34,186,000

Charges for Services

10,582,000

9,720,000

8,861,000

9,497,000

9,963,000

Fines & Forfeitures

4,725,000

3,098,000

3,407,000

3,660.000

3,876,000

Interest on Investments

16,466,000

8,925,000

2,864,000

618,000

570,000

Miscellaneous

16,541,000

19,651,000

18,959,000

20,299,000

29,513,000

Total Revenues

$1,574,815,000

$1,622,733,000

$1,626,421,000

$1,482,136,000

$1,530,815

               

Expenditures:

General Government

$66,461,000

$70,049,000

$71,128,000

70,594,000

73,159,000

Public Safety

282,749,000

306,928,000

322,247,000

333,523,000

330,072,000

Public Works

108,128,000

113,105,000

117,215,000

140,536,000

127,339,000

Health and Human Services

33,242,000

35,439,000

36,526,000

37,973,000

37,195,000

Culture and Recreation

20,335,000

22,426,000

23,507,000

24,370,000

23,881,000

Economic and Community Development

1,773,000

1,757,000

2,005,000

2,064,000

1,925,000

Pension Plan Contributions

35,968,000

40,778,000

46,446,000

53,156,000

53,795,000

Insurance Contributions

127,078,000

109,744,000

81,446,000

66,769,000

56,367,000

Public Schools

630,508,000

643,880,000

672,670,000

697,669,000

694,750,000

Community College

38,535,000

38,778,000

40,688,000

38,962,000

38,463,000

Libraries

29,526,000

31,339,000

32,505,000

34,285,000

33,616,000

    Debt Service

64,112,000

69,210,000

67,116,000

71,459,000

79,016,000

Miscellaneous

15,489,000

15,966,000

16,686,000

17,450,000

17,282,000

Total Expenditures

$1,453,904

$1,499,399,000

$1,530,185,000

$1,588,810,000

$1,566,860,000

Excess (Deficiency) of Revenues Over Expenditures

$120,911,000

$123,334,000

$96,236,000

($106,674,000)

($36,045,000)

Other Financing Sources (Uses):

Bond premium

5,293,000

9,150,000

0

725,000

12,041,000

Bond proceeds - refunding

0

0

73,020,000

0

13,565,000

Bond premium – refunding

0

0

8,151,000

0

1,387,000

Proceeds of Certificates of Participation

0

0

34,700,000

0

0

COPs premium

0

0

1,723,000

0

0

Op. Transfers In

2,164,000

3,859,000

3,510,000

117,953,000

50,565,000

Op. Transfers to Capital Budget

(143,783,000)

(146,875,000)

(138,500,000)

(33,123,000)

(2,600,000)

Op. Transfers to Other Funds

(6,258,000)

(6,821,000)

(7,219,000)

(7,352,000)

(7,338,000)

Payment to Refunded Escrow Agent

0                 

0

(80,850,000)

0

(14,879,000)

Total Other Financing Sources (Uses)

(142,584,000)

($140,687,000)

($105,465,000)

78,203,000

52,741,000

Net Change in Fund Balances

($21,673,000)

(17,353,000)

($9,229,000)

(28,471,000)

16,696,000

Fund Balance at Beginning of Year

309,215,000

287,542,000

270,189,000

260,960,000

232,489,000

Fund Balance at End of Year

$287,542,000

$270,189,000

$260,960,000

$232,489,000

$249,185,000

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Baltimore County Chamber of Commerce

Economic Development

 Baltimore County Public Library

Provide by the Baltimore County Chamber of Commerce and Comcast IN Cooperation 
with the B altimore County Public Library and the Department of Economic Development
 

Revised November 28, 2011