Harford County's financial standing remained overwhelmingly positive through the end of the 2011 fiscal year, according to SB & Company, LLC, which recently completed the county's audit.
The general fund total balance increased by $17 million, which is primarily because of a $12.3 million increase in income tax revenues, assisted by a $6 million decrease in the homestead tax credit.
The county had $173 million to use at the government's discretion.
Assigned and unassigned fund balances of the general fund was $83.5 million, and total fund balance reached $96.8 million.
The final budget of the general fund was increased by $6.9 million.
A conservative spending policy led to the 4.5 percent decrease in actual general fund expenditures, according to the budget.
General fund expenses increased by $5.1 million, primarily because of debt service obligations.
The highways fund had a balance of $22.4 million, an increase of nearly $1 million from the previous year.
The grant fund had a balance of $8.6 million, a $0.1 million decrease.
The agricultural land preservation fund had a balance of $48.5 million, a $2.9 million increase. Of that, $43 million is committed to future principal payments for development rights, of which none were bought during fiscal year 2011.
The capital projects fund had a balance of $55.9 million, a $56.8 decrease.
The Beechtree tax increment financing fund had a restricted balance of $2.9 million.
Unrestricted net assets of the water and sewer fund total $118 million; its net assets decreased by $8.9 million. The Internal Service Fund had $8.5 million, a decrease of $1.3 million.