2009-10 Annual Report - Harford County Public Schools

12 BOE | DECEMBER 2010
HCPS FISCAL YEAR 2010: FINANCIAL INFORMATION
Maryland school systems are revenue dependent
upon the state and local governments. State
funding is primarily established during the annual
legislative session of the Maryland General
Assembly during January through April of
each year. State funds are administered through
the Maryland State Department of Education
(MSDE).
Federal Sources
$6,860,266
1.2%
Special State &
Federal Programs
$33,329,650
5.8%
StateSources
$247,758,182
42.8%
FY 2010 Actual Revenues
Earnings on
Investments
$39,799
0.0%
Charges for Services
$7,838,875
1.4%
Miscellaneous
Revenues
$7,351,539
1.3%
Local Sources
$275,213,332
47.6%
The superintendent submits the recommended
budget to the Board of Education during the
second school
The HCPS Finance
Office received the
FY 10 GFOA Certificate
of Excellence in
Financial Reporting
Award for the sixth
consecutive year!
board meeting
in December.
The board holds
public hearings
for stakeholders
and work sessions
during January to
consider modifying
the budget prior
to submittal of the
board’s proposed
budget to the county
executive by January 31st. The county executive
has until April 1st to establish funding levels
for the next fiscal year. Once the board receives
the funding level from the county executive, the
operating budget is modified for submittal to the
County Council in line with the projected state
and county funding levels. The County Council
receives the county budget on April 1st and
Special State &
Federal Programs
$33,329,650
5.8%
Community
Services
$352,180
0.1%
Fixed Charges
$115,721,145
20.2%
Cost of Operations -
Food Services
$14,314,608
2.5%
Maintenance of Plant
& Equipment
$11,013,736 Operation of Plant
1.9%
$29,129,358
5.1%
FY 2010 Actual Expenditures
Capital Outlay &
Construction
$83,661,805
14.6%
Pupil Transportation
Services
$27,655,271
4.8%
Health Services
$3,255,200
0.6%
Administrative
Services
$10,708,101
1.9%
Student Personnel
Services
$1,615,403
0.3%
Mid Level
Administrative
Services
$25,417,187
4.9%
Instructional Salaries
$166,083,827
29.0%
Instructional
Textbooks &
Supplies $7,757,879
Special Education 1.4%
$39,030,095
6.8%
Other Instructional
Costs
$2,903,516
0.5%
holds public hearings and work sessions during
April and May. The council may add to the
county executive’s funding level only by reducing
the funds for other functions of the county
government, or having the county treasurer
revise projected revenues upward indicating that
additional funds will be available for the next
fiscal year.
The Board of Education submits the revised
proposed budget to the County Council in
mid-April and the County Council has until May
31st to determine final funding levels for the
county allocation. The County Council adopts
the county budget by May 31st. At that point
the county government funding is fixed for the
school system. Once this allocation is approved,
the Board of Education will revise the budgeted
expenditures to equal the total approved revenues.
The board approves the final budget by the end of
June, prior to the start of the next fiscal year, July
1st. The Board approved budget then goes back to
the county for final approval certification, required
by state law, which often occurs in July. This
completes the budget development and approval
process.
Throughout the budgetary process, expenditures
are aligned by Benefit Adjustments, FY 09-10
Cost Reductions, Cost of Doing Business
Expenses, Special Education Requests, and
Operating Impact of New Construction Projects.
Proposed new expenditures are categorized by a
Board of Education goal.