Comprehensive Annual Financial Report - Harford County Public ...

Harford County Public Schools
Management's Discussion and Analysis (MD&A)
June 30, 2011
nation. We neither reduced the workforce nor imposed furlough days throughout the economic
decline. We have reduced positions in the FY 2012 budget.
The continuing escalation and unpredictability of energy costs remains a vexing problem for this,
and all other districts. By action of the Board a $915,000 assignment of fund balance was set
aside for future energy costs to offset whatever future unanticipated costs will arise.
HCPS has not escaped the souring economy. As both the state and County experience
continuing reductions in revenue, a source of relief for them is passing costs off to local Boards
of Education. With the stimulus funding made available to public schools some of those
reductions were absorbed. Of greatest concern are actions to modifying the maintenance of
effort calculation statutorily required by County governments to fund their local school systems,
and the transfer of some part of teacher pension costs now paid directly by the State to the local
Boards of Education. We will be monitoring the upcoming legislative session to track progress
on these issues.
Contacting Harford County Public Schools' Financial Management
Our financial report is designed to provide our citizens, taxpayers, parents, and students with a
general overview of the HCPS’ finances and to demonstrate its accountability for the money it
receives.
If you have questions about this report or wish to request additional financial information,
contact James M. Jewell, Assistant Superintendent of Business Services at (410) 588-5321, or
John G. Staab, Director of Finance, (410) 588-5237, at Harford County Public Schools, 102
South Hickory Avenue, Bel Air, Maryland 21014.
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