TABLE OF CONTENTS Economic Factors...1 Assessable Base...2 Reassessment History...3 Real Estate Market...4 Foreclosures...6 Residential Building Permi

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2 TABLE OF CONTENTS Economic Factors...1 Assessable Base...2 Reassessment History...3 Real Estate Market...4 Foreclosures...6 Residential Building Permits...7 Real Property Assessable Base History...8 Commercial and Industrial Assessable Base...9 Development Highlights...10 Vacancy Rates...13 Median Household Income...14 Net Taxable Income...15 Unemployment/Labor Force Growth...16 Job Growth...17 Financial Factors...18 Budget Actions...19 Operating Revenues...20 Operating Plan...22 General Fund...23 Other Post Employment Benefits (OPEB)...26 Fund Balance Appropriation...27 Enterprise Funds...28 CIP Revenue...31 CIP Appropriations...32 CIP Funding...33 Public Schools CIP...34 Adequate Facilities - Schools...35 Agricultural Preservation...36 Carroll County Fiber Network...37 Management Factors...38 Management Tool Checklist...39 Financial Management Practices...40 Debt and Financial Ratios...43 Financial Ratios...44 Exhibits...46 Exhibit 1 - Assessable Base...47 Exhibit 2 - Top Ten Taxpayers as a % of Total Assessable Base...48 Exhibit 3 - Reassessment History...49 Exhibit 4 - Average Existing House Sale Price...50 Exhibit 5 - Home Sales by Price Class...51 Exhibit 6 - Building Permits - Residential...52 i

3 TABLE OF CONTENTS Exhibit 7 - Building Permits - Commercial/Industrial...53 Exhibit 8 - Real Property Percent of Base...54 Exhibit 9 - Population Growth...55 Exhibit 10 - High School Graduation Rates...56 Exhibit 11 - Educational Attainment...57 Exhibit 12 - Median Household Income...58 Exhibit 13 - Per Capita Personal Income...59 Exhibit 14 - Percent of Net Taxable Income...60 Exhibit 15 - Net Taxable Income...61 Exhibit 16 - Average Annual Unemployment Rates...62 Exhibit 17 - Labor Force Annual Growth...63 Exhibit 18 - Business Composition...64 Exhibit 19 - Employment Composition...65 Exhibit 20 - Weekly Wages...66 Exhibit 21 - Local Income Tax...67 Exhibit 22 - Property Tax Revenues...68 Exhibit 23 - Recordation Tax...69 Exhibit 24 - Op Plan - Fiscal Years Exhibit 25 - Operating Plan Summary...73 Exhibit 26 - Six Year Revenue Forecast...74 Exhibit 27 - Code of Public Local Laws of Carroll County...75 Exhibit 28 - Operating Surplus...76 Exhibit 29 - Outstanding Delinquent Property Taxes...77 Exhibit 30 - Fund Balance...78 Exhibit 31 - Bureau of Utilities...79 Exhibit 32 - Quarterly Residential Water and Sewer Rates...80 Exhibit 33 - Solid Waste Management...81 Exhibit 34 - Solid Waste Tonnage...82 Exhibit 35 - Current Tipping Fees for Maryland Landfills...83 Exhibit 36 - Airport Facility...84 Exhibit 37 - Septage Facility...85 Exhibit 38 - Firearms Facility...86 Exhibit 39 - CIP Appropriations and Revenues...87 Exhibit 40 - Capital Funding Sources...88 Exhibit 41 - CIP Funding/Appropriations for Schools...89 Exhibit 42 - Adequate School Facilities...90 Exhibit 43 - Agricultural Preservation Easement Map...91 Appendix...92 Debt Policy...93 Net Assets by Component - Last Five Fiscal Years Fund Balances, Governmental Funds - Last Five Fiscal Years ii

4 TABLE OF CONTENTS Local Tax Revenues by Source, Governmental Funds - Last Ten Fiscal Years Changes in Fund Balances, Governmental Funds - Last Five Fiscal Years Changes in Net Assets - Last Five Fiscal Years iii

5 Economic Factors 1

6 Assessable Base Following the end of the national boom in house prices, we expect the assessable base to contract from its height in FY 10 to a level just under that realized in FY 09. After a potential two years of contraction, we expect to return to modest annual growth. The top ten taxpayers represent only 2.3% of an increasingly diverse assessable base with the top taxpayer contributing 0.7% and the next highest taxpayer contributing 0.3%. Over the past five years the top two taxpayers have declined as a percent of total from 1.6% to 1.0%. Billions $30 $25 $20 $15 $10 $5 $0 Assessable Base Dollar Growth $ Nominal Real 20.0% 15.0% 10.0% 5.0% 0.0% -5.0% -10.0% Assessable Base Percent Growth (4.4%) Current $ Real $ 1996 = 100 Source: FY 00-FY 10 Carroll County CAFR [table 6]. FY 11 and FY 12 Maryland State Dept of Assessments and Taxation. FY 13-FY 16 projected by the Department of Management and Budget Notes: Assessable Base in real dollars is adjusted for inflation using the CPI of 1996 = 100. A 3% annual increase in the CPI assumed For FY 13-FY 16 projections of the Assessable Base converted to real dollars. Assessable Base includes real, personal, railroad and public utility property. See Exhibits 1 and 2 Economic Factors 2

7 Reassessment History In 2010, real property assessments decreased by 19%, as a residential drop of 21% was partially offset by an increase in commercial/industrial of 8%. A return to moderate growth is expected after the correction. In FY 11, the Homestead Tax Credit, which caps annual tax bills at 7% will account for 9% of the assessable base. In FY 12 the Homestead Tax Credit will be lowered from 7% to 5%. Average Real Property Assessment Growth By Assessment Group 60.0% 45.0% 30.0% 15.0% 0.0% -15.0% -30.0% Fiscal Year Impact of the Homestead Tax Credit Billions $25 $20 $15 $10 $5 $ Fiscal Year Assessable Base -Taxable Homestead Source: State Department of Assessments and Taxation Aims 2 report. See Exhibit 3 Economic Factors 3

8 Real Estate Market Average home prices have declined, but are still significantly higher than before the housing boom. The number of units sold and the average number of days on the market have stabilized, indicating that the bottom of the housing market may have been reached. Average Sale Price Existing Home Sales $400,000 $300,000 $200,000 $100,000 $ Avg Sale price 251, , , , , , , ,665 Units Sold 2,560 2,484 2,377 2,019 1,698 1,238 1,371 1,200 3,000 2,500 2,000 1,500 1, Units Sold Avg Sale price Units Sold Average Sale Price Existing Home Sales $400,000 $300,000 $200,000 $100,000 $ Avg Sale price 251, , , , , , , ,665 Days on Market Average Days on Market Avg Sale price Days on Market Source: MRIS [Metropolitan Regional Information Systems]. Note: 2010 figures are through the first 8 months of activity, except units sold, which is a full year projection by the Department of Management and Budget. See Exhibit 4 Economic Factors 4

9 Real Estate Market continued More than 70% of house sale activity is in homes priced at $350,000 or less. While overall activity in house sales has fallen, the market for homes priced at $250,000 or less is showing growth. Low activity in higher priced homes, along with an overall price correction, has pushed the average home sale price down. Home Sales by Price Class Jan. - Aug to Jan. - Aug % Change in Units Sold 20.0% 0.0% -20.0% -40.0% -60.0% -80.0% % 11.5% -44.7% -57.0% -66.3% -77.3% 0-$250 $250 - $350 $350 - $450 $450 -$600 $600+ Price by Class in Thousands % of Total 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 21.5% 40.7% 31.2% Home Sales by Price Class Jan. - Aug & Jan. - Aug % % 23.0% 8.2% 14.3% 0-$250 $250 - $350 $350 - $450 $450 -$600 $600+ Price by Class in Thousands 8.0% 3.1% Source: Metropolitan Regional Information Systems See Exhibit 5 Economic Factors 5

10 Foreclosures Carroll County is faring better than both the State of Maryland and the nation. The County had one foreclosure per 571 homes in August The State had one per 480 homes while the nation had one per 381 homes. Carroll County is not experiencing concentrated foreclosures in any particular community or zip code. Source: Realty Trac Economic Factors 6

11 Residential Building Permits When the housing market recovers there will be no restrictions due to the Adequate Public Facilities Ordinance. New schools and additions, as well as a new water treatment plant, have both provided for future growth. Building Permits 1,600 1,400 1,200 1, Source: FY 01-FY 10 Carroll County Bureau of Permits and Inspections Notes: Residential permits issued do not include apartments. See Exhibit 6 Economic Factors 7

12 Real Property Assessable Base History The assessed value of Commercial/Industrial (C/I) real property grew by $660,000,000 between FY 06 and FY 11, an increase of 44%, but still declined as a percent of assessable base, because of the rapid growth in home values. The correction in house prices and continuing C/I development lead to growth in the C/I percent of 9.9% to 10.6% from FY 10 and should continue for the next few years. Residential, Commercial / Industrial and Agriculture Assessable Base (Billions) $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 11.5% 11.3% 10.7% 10.2% FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 Ag $0.67 $0.76 $0.87 $1.00 $1.10 $1.11 C/I $1.47 $1.68 $1.84 $2.03 $2.13 $2.15 Res $10.70 $12.40 $14.58 $16.79 $18.28 $ % 10.6% Source: State of MD Aims 2 report. See Exhibit 8 Economic Factors 8

13 Commercial & Industrial Assessable Base In 2010, the Commercial and Industrial (C/I) reassessments increased 7.8% compared to a 21.5% decrease in Residential reassessments. C/I reassessments increased 44% from FY 06 FY 11. The total value of commercial and industrial construction from FY 06 to FY 10 was nearly $186 million. Assessable Base Dollar Growth Billions $2.1 $2.4 $2.0 $1.6 $1.2 $0.8 $0.4 $0.0 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 Source: FY 06-FY 11 State of MD Aims 2 Report. Value of Construction Millions $27.0 $60 $50 $40 $30 $20 $10 $0 FY 06 FY 07 FY 08 FY 09 FY 10 Source: Carroll County Department of Permits & Inspections. Excludes non-taxable entities or immaterial projects. 9 Economic Factors

14 Development Highlights Business Expansion & Relocation Projects Ridge Engineering, a Hampstead-based precision metal machine shop, added 13,000 square feet of manufacturing space. Evapco, a manufacturer of cooling and evaporative systems, added 15,000 square feet of office space to house administrative and R&D divisions. The company is currently working on plans for another significant expansion of its Taneytown facility. Bradshaw Construction s corporate headquarters completed its relocation from Howard County to Eldersburg. The company s administrative functions moved into a 9,000 square foot LEED certified building in July. A second 10,000 square foot equipment facility was also constructed on site. Flowserve Corporation was recently approved for a 10,000 square foot addition to its Taneytown facility. The Maryland Society of Accountants opened a 5,000 square foot office in Taneytown in the former Cambridge Rubber building. GSE Systems in Eldersburg, a developer and provider of simulation and educational solutions to the nuclear, fossil fuel and electric power industry, has expanded its Eldersburg location by 5,000 square feet. The company has increased its local workforce by 65 percent since moving to Eldersburg in Omega Satter has expanded and relocated to 51,000 square feet at the Hampstead Industrial Center. The company manufactures distributes camera equipment and accessories. Jos. A. Bank Clothiers has also expanded at the Hampstead Industrial Center, taking on an additional 125,000 square feet of distribution space. Economic Factors 10

15 Development Highlights continued Speculative Development St. John Properties, a Baltimore-based full service development firm, is constructing Liberty Exchange in Eldersburg. This will be the first modern Business Park in Carroll County, incorporating office and flex with complementary retail uses. St. John Properties will build the entire park and expects it to be completed in spring Property tax revenues alone are expected to be 25 times greater than current taxes received from the property. At build out, over 500 new jobs will be created in over 220,000 square feet of space. Florida Rock Properties (FRP) continues to work towards the largest industrial development in Carroll County history. With the annexation of over 120 acres into Hampstead town limits, FRP plans to phase in development of 1,000,000 square feet of space. Located just off the Hampstead bypass this large park will be served with public water and sewer and enjoy easy access to both northern and southern markets via the bypass. Strayton Business Center in Mt. Airy, an 11,000 square foot spec building, is fully constructed and 40% leased. The David D. Green Professional Center is in the final stages of construction in Westminster. The Center features 50,000 square feet of Class A professional office space with leasing and condo sale options. To date, the Center is 40% leased. A new 24,500 square foot building has been approved at Twin Arch Business Park in Mt. Airy. The building will house Carroll Community College s Allied Health program as well as new offices for Electrical Solutions. Dede World, a 30,000 square foot planned business center, is proposed on a site along the MD 140 Corridor in Finksburg. This project, the first to take advantage of the Gateway Tax Credit Program, will contain office and retail tenants and promises to initiate other redevelopment in the area. Preliminary site plans are being developed. Economic Factors 11

16 Development Highlights continued Retail Development The Shoppes at Meadow Creek continue to build out. Pad sites are under construction for three new restaurants and Walgreens. A day spa, child care center, and a financial operations center opened during the last year. Finksburg Plaza underwent a major renovation and signed Food Lion grocery store as the anchor tenant. A vacant restaurant space on MD 140 was demolished. The site will be redeveloped into an 8,000 square foot planned business center containing The Vitamin Shoppe and Chipotle. Qdoba opened its first franchise in Eldersburg and Glory Days is planning to open Fall Dick s Sporting Goods will open at the Town Mall of Westminster by Thanksgiving This national tenant will bring increased retail traffic to the mall. Hampstead Marketplace welcomed three new tenants, Papa Johns, Pet Valu and Dunkin Donuts. Toys R Us Express opened at the Town Mall of Westminster. Economic Factors 12

17 Vacancy Rates Carroll County s building vacancy rates are similar to 2009 rates and compare favorably to neighboring jurisdictions as well as the Baltimore market area. The flex space vacancy rate is driven by availability in the Westminster area, but does not reflect availability across the County. Market Statistics Mid-Year 2010 % Vacant 20.0% 16.0% 12.0% 8.0% 4.0% Carroll County Baltmore Market 0.0% Office Flex Industrial Retail Source: CoStar Baltimore Market Reports, Economic Factors 13

18 Median Household Income Carroll s 2009 median household income is third highest in the Baltimore Metropolitan Region, and it is 18% greater than the region s median. Carroll s 2009 median household income is more than 13% above the State of Maryland, and it exceeds the 2008 national median by 58%. $85,000 $80,000 $75,000 $70,000 $65,000 $60,000 $55,000 $50,000 $45,000 Median Household Income 79,300 70,050 67,400 49, Baltimore Region State of MD Carroll United States Sources: Notes: Maryland Department of Planning, Planning Data Services, June Baltimore Metropolitan Region consists of Baltimore City, Anne Arundel, Baltimore, Carroll, Harford, and Howard Counties. "Income, Poverty, and Health Insurance Coverage in the United States: 2009" - U.S. Department of Commerce, Economics and Statistics Administration, U.S. Census Bureau The ASEC report was issued in September of 2010, and the income in 2009 is in adjusted dollars as per the Consumer Price Index research series using current methods. See Exhibit 12 Economic Factors 14

19 Net Taxable Income Between 2004 and 2008, net taxable income from taxpayers earning over $100,000 increased nearly 44%. Approximately 60% of total net taxable income comes from taxpayers with incomes greater than $100,000. Net Taxable Income in Current Dollars In Millions $1,200 $1,000 $800 $600 $400 $200 $0 $0 to $49,999 $50,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 and Over Percent of Total Net Taxable Income by Income Bracket in Current Dollars 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% $0 to $49,999 $50,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 and Over Source: Comptroller of Maryland, Income Tax Summary Report 2004 through 2008 for Carroll County. Based on tax returns filed. See Exhibits 13, 14 and 15 Economic Factors 15

20 Unemployment/Labor Force Growth The Carroll County average annual unemployment rate of 7% through June is nearly 39% below the national average of 9.7%. While Carroll County experienced negative growth in its labor force for 2009, the County previously had growth every year for more than decade that consistently exceeded both the region and the State. 10.0% Average Unemployment 8.0% 6.0% 4.0% 2.0% 0.0% Carroll County Baltimore Region Maryland National Labor Force Growth Rate 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% -1.00% -2.00% -3.00% -4.00% -5.00% Carroll County Baltimore Region Maryland Source: Maryland Department of Labor, Licensing and Regulation. Unemployment figures for 2010 are the average for the first 6 months. See Exhibits 16, 17, 18, 19 and Economic Factors

21 Job Growth Carroll County experienced a contraction in the number of jobs in 2009; however, job growth in the County has been strong over the past five years. Carroll County s long-term job growth has exceeded most of its peers over the past five years. Since 2004 Carroll County s job growth is 4.5% while the Baltimore Metropolitan Area s and the State s job gains have completely disappeared. 0.0% Job Growth CY 08 to CY % -2.0% -3.0% -4.0% -5.0% State of MD Baltimore Metro Area Anne Arundel Baltimore Carroll Frederick Harford Howard Washington 6.0% Job Growth CY 04 to CY % 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% State Baltimore Anne of MD Metro Area Arundel Baltimore Carroll Frederick Harford Howard Washington Source: Maryland Department of Labor, Licensing, and Regulation See Exhibit 17 and 19 Economic Factors 17

22 Financial Factors 18

23 Budget Actions In FY 10, the Board of County Commissioners approved more than $15M in expenditure side savings in order to address a projected revenue shortfall of $11 million and included: Cancellation of existing capital projects Reduced funding on capital projects Halting pavement preservation for one year Extending the hiring freeze Earmarking reserve funding The FY 11 General Fund Budget is $5.5M less than the FY 10 Adopted Budget and $4M less than the FY 09 Adopted Budget. In order to balance the Budget and six-year operating plan, significant new cuts to funding of services, facilities, and infrastructure were adopted through the FY 10 and 11 budget processes and include: Elimination of 93 positions, or 12% of the workforce, reporting to the Commissioners Elimination of 16 planned positions from the FY Operating Plan Funding the Board of Education at Maintenance of Effort Salaries frozen at FY 09 levels until FY 13 Holding most FY 11 and FY 12 operating budgets flat or reduced from the FY 10 Budget Eliminating or significantly reducing capital projects to reduce growth of debt service Reducing planned operating budget growth Financial Factors 19

24 Operating Revenues Property Tax Property tax revenue will grow 4.1% for FY 11, down from 9.9% in FY 10 and 7.5% in FY 09. This lower growth rate is the result of the downturn in the housing market. Group 1 had a negative reassessment of 19.2% and the next two reassessments could be negative as corrections in the housing market are realized leading to more modest growth. Deferred revenue growth from the Homestead Tax Credit softened the impact of the negative reassessment in FY 11, will do the same in FY 12, and to a lesser extent in FY 13. Effective in FY 12 the Board of Commissioners lowered the Homestead Tax Credit from 7% to 5%. Local Income Tax Income tax collections in FY 10 were down 4.1% from the $102.5 million collected in FY 09. This decrease along with other recent drops is due to a combination of factors, including unemployment, falling capital gains, and changes in personal exemptions amounts at the State level. The budget for FY 11 is $102 million or 3.7% above the FY 10 actual of $98.3 million. The State forecasted growth rate for FY 11 is 3.0%. Historically Carroll has outperformed the State forecast. The Six-Year revenue forecast takes into consideration the $366 million Local Income Tax reserve appropriated by the State in FY 09 to balance their budget. Counties will be required to rebuild the reserve. Carroll s share is $10 million, which will be paid over a ten year period beginning in FY 13. Recordation Tax In FY 10, collections hit $9.2M based on a budget of $9.0 million. Our belief has been the housing market would hit bottom during FY 10, and would begin to improve in FY 11. In FY 11, the budget is $10 million. However, during the first few months of FY 11 we are seeing slower than projected activity. See Exhibits 21, 22 and 23 Financial Factors 20

25 Operating Revenues continued Highway User Revenue (HUR) The State withheld more than 90% of HUR in FY 10 and FY 11 to address its budget shortfalls and plans to do the same in FY 12. In FY 13 a new revenue sharing formula begins that will permanently reduce the local share of transportation funds from 30% to 9.2% with 7.5% going to Baltimore City and all the other counties and municipalities splitting the remaining 1.7%. Interest The FY 11 budget for Interest is $0.9 million. Falling interest rates over the last few years resulted in interest dropping from $8.6 million in FY 08, to $4.2 million in FY 09, and to $1.4 million in FY 10. The expectation is to earn approximately 0.5% in FY 11, which is similar to FY 10. Six-Year Revenue Projections Property Tax growth rates were reduced throughout the plan based on the potential of continued negative reassessments and limited new residential construction. Income tax growth has been lowered due to uncertainties in the economy. Recordation growth was reduced in the out years due to uncertainty over the housing market recovery. See Exhibits 21, 22 and 23 Financial Factors 21

26 Operating Plan The FY Operating Plan was adopted with all six years balanced. Taxes were not raised, reserves were not used, maintenance efforts are still in place, and our approach to fiscal management is unchanged. Significant cuts were made in FY to establish a new base with a plan to hold most expenditures flat in FY 12 and have modest growth for FY 13 and beyond. Few new positions are planned, and nearly all of them are for additional law enforcement officers to maintain the County s Adequate Public Facilities Ordinance requirement of 1.3 officers per 1,000 people. There are still significant unknowns. Additional State actions are likely, and continued economic uncertainty could affect our revenue projections. Operating Plan Revenues $'s in Millions FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY $353 $373 $395 $419 $447 $471 FY $355 $376 $399 $419 $444 $468 FY $349 $358 $369 $383 $398 $411 FY 11 - FY 16 Operating Plan Expenditures All Other Funding 31.60% Total Debt Service, Including BOE 12.41% Public Safety 10.10% Public Schools 45.88% Source: Carroll County, Maryland FY 09, FY 10, and FY 11 Adopted Operating Budget Books See Exhibits 24, 25, and 26 Financial Factors 22

27 General Fund General Fund revenues increased by $695,027 from $323,819,766 in FY 09 to $324,514,793 in FY 10. The main reason for the increase in revenues was due to an increase in total property taxes. General Fund expenditures increased by $9,309,541 from $330,618,725 in FY 09 to $339,928,266 in FY 10. The largest increases were in Education and Public Works. Public Works increase was due to additional costs associated with the two large snow storms that occurred during FY 10. Other Financing Sources (Uses) increased $9,964,922 for these primary reasons: Long term notes payable increased by $1,705,634. The County issued Installment Purchase Agreements (IPA s) for Agricultural Preservation in the amount of 4,662,430. Transfers out decreased by $5,731,218 in FY 10. The main reason for this decrease was due to the County transferring money back to the General Fund from the Capital Fund during the year. Transfers in increased by $2,282,270 in FY 10. The primary reason for the increase was due to an increase from the capital fund for income tax. The net change in total fund balance is a decrease of $1,517,578 for FY 10. Property Taxes When delinquent taxes are collected, they are applied to the year for which the levy occurred. As of fiscal year 2010 the percentage of Outstanding Delinquent taxes as a percent of total levy: % % % % %. The total outstanding delinquent taxes for the years listed above equal $1,547,366. Financial Factors 23

28 General Fund continued Carroll County continues to maintain its excellence in financial reporting. We received our 25th consecutive GFOA Certificate of Achievement for Excellence in Financial Reporting for our FY 09 Comprehensive Annual Financial Report (CAFR). Carroll County received the GFOA s Distinguished Budget Presentation Award for its 3 rd consecutive year for our fiscal year 2010 adopted budget document. To ensure our desire for full disclosure and reporting, the County continues with DAC (Digital Assurance Certification) to make our financial reporting and disclosures accessible at all times. Fund Balance The County is committed to maintaining a minimum unreserved fund balance at 5% to 8% of general fund revenues. For FY 10 the unreserved/undesignated fund balance is $8,590,820 or 2.6% of general fund revenues. Along with the Stabilization Fund of $10,700,000 and the Secondary Reserve Fund of $6,750,000, this provides $26,040,820 in unreserved fund balances, which equates to 8.1% of general fund revenues. A five year history of the minimum unreserved fund balance is shown below: % % % % % In FY 92, The County established a Stabilization Fund as part of Fund Balance. The Fund has steadily increased from $7,900,000 in FY 04 to $10,700,000 in FY 09. The amount is unchanged for FY 10. The goal is to maintain the Stabilization Fund at 3.0% of the following year s budget. The Fund stands at 3.0% of FY 10 budget and 3.1% of the FY 11 budget. Financial Factors 24

29 General Fund continued In FY 00 the County established a Secondary Reserve Fund as part of Fund Balance. The goal is to maintain this fund at 1.5% of the following year s budget. The Fund is unchanged at $6,750,000 in FY 10. The fund stands at 1.9% of the FY 10 budget and at 1.9% of the FY 11 budget. An additional $10,418,281 of unreserved fund balance is designated for specific purposes and therefore is not included in the minimum unreserved fund balance calculation. Financial Factors 25

30 Other Post Employment Benefits (OPEB) In FY 11 $7.3 million was budgeted for retiree health benefits; $3.0 million for current year expense and $4.3 million for future liabilities. The amount dedicated to future liabilities is planned to grow each year, reaching $5.5 million by FY 16. Trust funds were established for the component units of Carroll County Government including Carroll County Public Schools and Carroll Community College. $1.5 million of the Board of Education FY 07 surplus was applied to the BOE OPEB trust in FY 09. $2.0 million was transferred from the BOE operating budget to their OPEB trust in FY 10. Planned OPEB Funding Millions $12 $10 Amount Funded $8 $6 $4 $2 $ Future Cost Current Cost Source: Carroll County Adopted FY 11 Budget. Financial Factors 26

31 Fund Balance Appropriation Pursuant to the Code of Public Local Laws of Carroll County article 7, 3-62 (19), the actual unreserved/undesignated fund balance must be appropriated to the next budget following the completion of an independent financial audit of those funds. The chart below illustrates the three-year cycle of appropriating unreserved/ undesignated fund balance. Highlighted is the actual fund balance (surplus) from FY 08. This surplus is designated in FY 09 for appropriation in FY 10. In FY 10, the FY 08 surplus is recognized as revenue and appropriated. Fund Balance Appropriation Cycle FY 08 FY 09 FY 10 FY 11 Actual Unreserved and Undesignated Fund Balance $14,858,762 $8,103,281 $8,590,820 N/A Designated Fund Balance for Subsequent Year $7,302,102 $14,858,762 $8,103,281 $8,590,820 Budgeted Revenue and Appropriation $13,542,642 $11,302,102 $14,858,762 $8,103,281 Note: $4 million of FY 08's anticipated surplus was used in FY 09 See Exhibit 27, 30 Financial Factors 27

32 Enterprise Funds Bureau of Utilities The Bureau of Utilities experienced a negative change in net assets for FY 10 of $377,992. Usage rates to maintain the operations for FY 10 were adopted and went in effect on July 1, Usage rates for FY 11 have been adopted with an effective date of July 1, A complete review of the water and sewer usage rates was conducted prior to the adoption of the fiscal year 2010 budget. The average water and sewer customer (16,000/gals per quarter) paid $178 per quarter last year and $190 per quarter after July 1, The increase of $12 per quarter equates to a 6.82% increase. During FY 10, a complete review of the water and sewer usage rates was conducted prior to the adoption of the fiscal year 2011 budget, resulting in increases to both the water and the sewer rates. The average user will now pay $188 for 14,000/gals per quarter of usage, effective July 1, During FY 10 the average water and sewer customer paid $166 for 14,000/ gals per quarter. The average usage decreased from 16,000 gals per quarter to 14,000 gals per quarter during FY 10. Area Connection charges and a Maintenance Fee are being collected and are designed to fully fund the system s capital program for most projects proposed to build-out of the system. Some additional projects will be funded by issuance of debt. A complete review of the Area Connection charges, used to fund the new capacity portion of the cost of capital projects, was conducted prior to adoption of the fiscal year 2010 budget. Based on this review, the water and sewer area connection fees were adjusted for FY 10. Effective July 1, 2009 water and sewer area connection fees are $9,773 and $8,419 respectively. These charges, along with the maintenance fee and some minimal bond funds are programmed to fund the capital needs of the water and sewer system for the next five (5) to ten (10) years. See Exhibits Financial Factors 28

33 Enterprise Funds continued During FY 10, a complete review of the Area Connection charges was conducted prior to adoption of the fiscal year 2011 budget. Based on this review, the water and sewer area connection fees were not adjusted for FY 11 and remain $9,773 and $8,419 respectively. Solid Waste The tipping fee was unchanged at $76 per ton for the adoption of the FY 10 budget. In September 2009, the Board voted to reduce the tipping fee from $76 per ton to $58 per ton. During FY 10, a review of the rates was conducted and the tipping fee was increased from $58 to $60 per ton effective July 1, The commercial yard waste fee rate increased from $15 to $20 per ton effective July 1, For FY 02 through FY 08, the County transferred $2,645,000 annually from the General Fund to the Solid Waste Enterprise Fund. In FY 09 and FY 10, the County transferred $2,545,000 from the General Fund to the Solid Waste Enterprise Fund, in part to cover debt service payments on old landfills, and to cover freebies such as coupons to citizens allowing free hauling of waste to the landfill, and post closure monitoring (ground water and methane gas) of old landfills closed before an enterprise fund was established. This Fund showed a negative change in net assets of $245,443 for FY 10. However, total net assets remain positive at $2,009,902. See Exhibits Financial Factors 29

34 Enterprise Funds continued OTHER NON-MAJOR ENTERPRISE FUNDS Septage Fund The Septage Fund showed a positive change in net assets of $130,459 for FY 10 based on the year end financial statements. Fees are collected based on the number of gallons reported by the haulers. The septage fee is unchanged at $.055 per gallon. Firearms Facility During FY 10, the Fund had a positive change in net assets of $36,200 based on the year end financial statements. See Exhibits Financial Factors 30

35 CIP Revenue In the FY 11-FY 16 Adopted Community Investment Plan, an average of $2.5 million of real property tax is directly appropriated for capital purposes. In addition an average of $3.0 million is used in the General Fund to pay for debt service associated with land preservation purposes. 9.1% of income tax is dedicated to the Capital Budget for paygo and debt service on school construction. An average of $13.4 million a year is projected in the FY 11-FY 16 Community Investment Plan. FY 11-FY 16 CIP Revenues Bonds 62.1% State 16.1% Paygo 19.9% Other 0.2% Federal 1.7% FY 06-FY 11 CIP Revenues $250 $200 Millions $150 $100 $50 $ Paygo State Federal/Other Bonds Source: Carroll County FY 11-FY 16 Adopted CIP, Carroll County FY 06-FY 11 Adopted CIP Note: Charts do not include income taxes transferred to the operating budget for debt service. See Exhibit 39 Financial Factors 31

36 CIP Appropriations $26.5 million for the 911 radio system for extending the life of the existing analog system and transitioning to a digital system. $52.0 million for road preservation. More than $93 million is planned in the FY CIP for land preservation, water development, and water quality. o The development of water sources includes wells, reservoirs, surface water intakes, and infrastructure to transport water. o Water quality projects include increased funding for compliance with State and Federal law and regulations. FY 11 - FY 16 Community Investment Plan Appropriations Conservation, 33.2% General Government, 14.0% Culture and Recreation, 0.9% Public Schools, 19.6% Roads & Bridges, 22.7% Enterprise Funds, 9.6% Source: Carroll County FY 11-FY 16 Adopted CIP Notes: General Government includes Community College, County Facilities, Public Safety, Farm Museum, Senior Centers and Public Libraries. Does not include income taxes transferred to the operating budget for debt service. See Exhibit 39 Financial Factors 32

37 CIP Funding During the period of strong revenue growth a few years ago, the County used the opportunity to aggressively increase paygo funding. Over three years $75 million was diverted from potential uses in the Operating Budget for use in building facilities and infrastructure. In the FY CIP, paygo funding will average nearly 20% annually over the six years. The significant increase in FY 10 Other Capital Funding sources is largely due to the planned Federal Aviation Administration (FAA) and the Maryland Aviation Administration (MAA) participation in the Carroll County Regional Airport s runway extension project. Capital Funding Sources 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Paygo Bonds State Other Source: Carroll County Adopted CIP Notes: Beginning in 1997, a portion of the property tax has been dedicated to capital projects. Beginning in 1997, a portion of the income tax has been dedicated to capital projects and BOE debt service. Since 1998 that percentage of income tax dedicated to capital has been approximately 9.1%. Does not include impact fees and income taxes transferred to the operating budget for debt service. See Exhibit 40 Financial Factors 33

38 Public Schools CIP More than $23 million in new construction, additions, and modernizations are included the FY CIP, including additional funding for a new Mt. Airy Middle School that will address both capacity and modernization issues. Funding plan to maintain our school infrastructure remains in place. The FY CIP includes nearly $16.2 million for HVAC systems and $12.4 million for roofs. FY 11 - FY 16 CIP Planned Appropriations 42.6% 57.4% New Construction,Additions & Modernizations Other Projects Source: Carroll County, Maryland FY 11-FY 16 Adopted CIP Note: Does not include income taxes transferred to the operating budget for debt service. See Exhibit 41 Financial Factors 34

39 Adequate Facilities - Schools A new Mt. Airy Middle school is scheduled to open in FY 14. The bulk of local funding for this new school has already been appropriated, and State planning approval is expected to be received this year. Once this new school is built Carroll County will have no significant capacity concerns for the foreseeable future. Recently completed projects include Ebb Valley Elementary school, Manchester Valley High school, a number of Full-Day Kindergarten additions, and a Fine Arts addition to South Carroll High School. Source: Carroll County Department of Planning See Exhibit 42 Financial Factors 35

40 Agricultural Land Preservation As of the end of FY 10, with 56,627 acres permanently preserved through easements, the County has surpassed the halfway point of its goal of 100,000 acres preserved eliminating the potential development of 6,300 residential lots that would have added pressure on the County s infrastructure. Between FY 08 FY 10 the Commissioners funded 80% of the Agricultural Preservation Program. In FY 09, the Commissioners began using Installment Purchase Agreements as a funding mechanism to accelerate the purchase of agricultural land easements. See Exhibit 43 Financial Factors 36

41 Carroll County Fiber Network In FY 07, the Board of County Commissioners initiated a capital project to build the Carroll County Public Network (CCPN), a 110-mile fiber optic infrastructure that provides cable fiber to the Community College, Public Libraries, Board of Education facilities, and Carroll County Government. Estimated savings to the four primary users of the CCPN are projected to reach $950,000 per year. In 2010, Carroll County partnered with the Maryland Broadband Cooperative to develop the Carroll County Fiber Network (CCFN), using the CCPN to provide business and service providers the ability to lease fiber to meet the growing need for high-speed broadband services. The CCFN fiber infrastructure is anticipated to develop $300,000 to $600,000 in revenue per year in the short-term (10% utilization) and as much as $3,600,000 to $7,200,000 depending on the final rates determined and capacity utilized. Financial Factors 37

42 Management Factors 38

43 Monthly Multi-Fund Monitoring DEBT MANAGEMENT Debt Disclosure Policies CAPITAL PLANNING Management Tool Checklist FINANCIAL PLANNING Fund Balance Reserve Contingency Planning Multiple Fund Reserves OPERATIONAL PLANNING Six-Year Operating Plan Budget Process Debt Affordability Review Rapid Debt Retirement Six Year CIP Budget Dedicated Paygo Capital Funding Operating Impacts for CIP 39 Management Factors

44 Financial Management Practices Fund Balance Reserve/Working Capital Reserve The County practices a four-part approach to provide flexibility in the event of unexpected expenditures or loss of revenue: 1) 1.25% of General Fund revenues are appropriated in a Reserve for Contingencies to be used after approval of the Board of Commissioners for unplanned expenditures or to address shortterm loss of revenue. In FY 11, the reserve is 1.8% of General Fund revenues. 2) A target amount of 1.5% of General Fund revenues is maintained in a secondary reserve as a buffer against short-term revenue fluctuations. For FY 11, 1.9% of General Fund revenues are being reserved. 3) A target amount of 3.0% of General Fund revenues is maintained as a reserve for extreme unforeseen expenditures. For FY 11, the Stabilization Fund is 3.1% of General Fund revenues. The need for the funds must meet specific criteria and be appropriated by the Board of County Commissioners after a public hearing. 4) On a smaller scale but for specific circumstances where the County is self-insured or where expenditures can experience wide fluctuations, the Board of County Commissioners has established reserves to provide flexibility. A $1.4 million Health Claims Reserve. A $400,000 Worker s Compensation Reserve. A $500,000 Vehicle Reserve to provide for greater flexibility in planning vehicle replacement purchases. Multi-year Financial Forecasting The County maintains a six-year Operating Plan and a Community Investment Plan for expenditures built on projected revenues. Management Factors 40

45 Financial Management Practices continued Monthly Financial Reporting County staff reviews operating and capital revenues and expenditures monthly, more frequently when conditions warrant, and share with the Commissioners regularly. One-Time Revenues 1% of budgeted revenues from prior years are considered as on-going funding for budgetary purposes. Any remaining fund balance will be considered as one-time funding. Revenues identified as one-time, including General Fund revenues in excess of projected balances, are used to fund non-recurring expenditures. First priority for these revenues is given to providing paygo funding in the Capital Budget. Debt Affordability Reviews Debt service and the County debt burden are compared annually to established debt affordability criteria.* Paygo Capital Funding The County is committed to paygo in the CIP. Paygo funding for FY 11- FY 16 is planned at approximately 20.0% annually. Debt Retirement As of June 30, 2010, 70.5% of bond debt owed by the County will be retired within ten years and 37.9% will be retired in five years. * Carroll County Government FY 11 Adopted Operating Budget, pages Management Factors 41

46 Financial Management Practices continued Operating Costs of Capital Projects Operating impacts are developed for all capital project requests. Operating impacts for capital projects are integrated into the Operating Plan after being developed and refined. Flexibility Revenue Flexibility Flexibility remains within the tax capacity to raise property tax and/or income tax, the County s two largest revenues. Below are area county tax rates for FY 11: Surrounding Counties Property Tax Rate Income Tax Rate * Baltimore $ % Carroll $ % Frederick $ % Harford $ % Howard $ % * The maximum Income Tax Rate is set in State law at 3.20%. 1. Property Tax Rate includes fire tax and/or street lighting district supplements. 2. Property Tax Rate includes fire tax districts. Management Factors 42

47 Debt and Financial Ratios 43

48 Financial Ratios Top ten taxpayers assessed valuation as a percent of total assessed valuation: FY 10 = 2.28% Total general fund balance as a percent of operating expenditures: FY 10 = 23.32% Unreserved general fund balance as a percent of operating expenditures: FY 10 = 10.73% Undesignated, Unreserved fund balance as a percent of operating expenditures: FY 10 = 2.53% Property tax burden as a percent of market value: FY 10 = 0.92% Total outstanding debt to market value: FY 10 = 1.61% Direct outstanding debt to market value: FY 10 = 1.41% General fund principal payment as a percent of operating expenditures: FY 10 = 6.73% 44 Debt and Financial Ratios

49 Financial Ratios continued General fund debt service as a percent of operating expenditures: FY 10 = 10.50% General fund direct debt service as a percent of operating expenditure: FY 10 = 7.31% * *Adjusted to recognize revenues dedicated to paying debt service for BOE Total outstanding debt per capita: FY 10 = $2,027 Direct outstanding debt per capita: FY 10 = $1,769 Direct outstanding debt as a percent of income: FY 10 = 4.20% Total outstanding debt amortization: As of June 30, 2010, 70.5% of the bond debt owed by the County will be retired within ten years and 37.9% will be retired within five years. Market value per capita: FY 10 = $125,654 Sources: Preliminary Official Statement, Carroll County CAFR, US Census Bureau and the Maryland Office of Planning 45 Debt and Financial Ratios

50 Exhibits 46

51 Assessable Base Assessable Base Fiscal Assessable % Change in Real $ % Change Year Base (Current $) (1996 = 100) (Real $) ,180,260, % 8,315,453, % ,725,556, % 8,606,687, % ,340,867, % 8,899,197, % ,948,754, % 9,162,138, % ,034,458, % 9,681,784, % ,470,143, % 10,458,185, % ,441,306, % 11,569,641, % ,902,568, % 12,833,474, % ,409,412, % 14,597,545, % ,066,168, % 15,572,454, % ,088,129, % 14,448,773, % ,032,915, % 13,326,001, % ,153,884, % 13,015,990, % ,602,212, % 12,917,995, % ,121,777, % 12,858,031, % ,862,010, % 12,921,022, % Source: FY Carroll County CAFR [Table 6]; FY 11 and FY 12 Maryland State Dept of Taxation and Assessments Assessable Base in current dollars for FY is projected by the Department of Management and Budget. Notes: Assessable Base in real dollars is adjusted for inflation for FY 01 through FY 10 using the CPI of 1996 = 100. A 3% annual increase in the CPI is assumed for the FY 13 through FY 16 projections of the Assessable Base converted to real dollars. Assessable Base includes real, personal, railroad and public utility property. 47 Exhibit 1

52 Top Ten Taxpayers as a Percent of Total Assessable Base Business FY 06 FY 07 FY 08 FY 09 FY 10 Baltimore Gas & Electric 1.06% 1.00% 0.90% 0.80% 0.74% Bell Atlantic/Verizon 0.48% 0.40% 0.34% 0.28% 0.26% Carroll Lutheran Village 0.31% 0.34% 0.30% 0.27% 0.26% Random House, Inc. 0.31% 0.26% 0.19% 0.20% 0.18% Fairhaven Inc. 0.25% 0.22% 0.20% 0.19% 0.18% Hampstead 2004 LLC 0.22% 0.20% 0.19% 0.17% 0.17% Cranberry Mall Properties 0.26% 0.25% 0.24% 0.22% 0.14% Wal-Mart Stores 0.25% 0.17% % 0.13% Lehigh Portland Cement 0.16% % Colonial Pipeline % 0.11% 0.09% 0.09% Potomac Edison % 0.10% 0.07% -- AT&T Communications % Eldersburg Business Center 0.15% % of Total Assess. Base 3.45% 3.08% 2.66% 2.44% 2.28% Source: FY 06-FY 10 Carroll County CAFR, Table 8. Note: Taxpayers are sorted based on FY 10 percentages. 48 Exhibit 2

53 Reassessment History County Group 2 Group 3 Group 1 Group 2 Group 3 Group 1 Group 2 Group 3 Group 1 Allegany 6.2% 9.3% 10.6% 10.6% 21.4% 43.3% 34.5% 16.8% 0.4% Anne Arundel 20.4% 37.0% 49.0% 47.6% 65.9% 55.4% 34.9% -0.3% -17.9% Baltimore City 6.1% 23.0% 18.5% 21.6% 45.6% 58.5% 75.0% 20.9% -2.6% Baltimore 12.1% 11.2% 19.3% 38.1% 53.4% 64.8% 32.6% 13.3% -13.2% Calvert 14.3% 17.6% 29.7% 50.4% 71.7% 69.7% 38.3% 3.1% -15.1% Caroline 12.1% 13.3% 25.0% 38.9% 49.7% 73.6% 40.6% 13.4% -15.6% Carroll 11.7% 15.8% 35.9% 42.2% 54.0% 56.9% 37.4% 5.1% -19.2% Cecil 13.4% 17.4% 20.5% 33.1% 56.7% 54.0% 33.3% 2.5% -11.0% Charles 11.3% 17.9% 27.5% 47.2% 70.2% 62.6% 41.4% -4.6% -19.8% Dorchester 15.8% 12.3% 19.4% 32.5% 60.8% 58.5% 34.5% 6.8% -9.9% Frederick 13.0% 18.1% 33.5% 56.0% 60.9% 52.2% 27.4% -4.7% -22.0% Garrett 19.4% 22.2% 11.1% 39.2% 47.6% 38.3% 29.0% 8.5% 0.0% Harford 12.8% 14.4% 25.5% 37.6% 48.2% 55.5% 38.6% 9.0% -14.3% Howard 20.1% 29.0% 39.3% 48.5% 58.7% 50.3% 24.2% -2.3% -19.8% Kent 17.4% 20.7% 30.6% 46.5% 36.8% 65.2% 37.3% 13.5% -10.3% Montgomery 21.8% 36.3% 51.8% 65.0% 63.3% 43.4% 16.2% -10.6% -17.0% Prince George's 13.8% 16.4% 32.8% 40.1% 60.6% 79.5% 51.6% 14.6% -18.4% Queen Anne's 18.3% 38.6% 40.9% 48.3% 58.7% 50.1% 36.8% 7.2% -12.4% St. Mary's 8.5% 9.7% 19.1% 37.2% 57.2% 84.3% 49.0% 8.2% -15.5% Somerset 6.9% 17.0% 17.1% 49.5% 65.0% 79.6% 45.5% 4.4% -10.6% Talbot 33.6% 34.9% 31.3% 47.9% 53.5% 54.8% 42.7% 13.6% -9.0% Washington 7.1% 11.1% 21.4% 32.4% 58.6% 64.7% 40.2% 3.0% -18.4% Wicomico 6.8% 12.7% 16.9% 21.3% 40.2% 53.2% 40.6% 5.1% -15.6% Worcester 18.0% 70.6% 55.5% 26.7% 78.9% 54.1% 33.3% -12.7% -20.0% State Average 15.9% 26.4% 36.0% 46.6% 60.2% 56.1% 33.2% 0.8% -16.1% Source: Maryland State Department of Assessments and Taxation Note: These figures represent the full-cash value increase or decrease before phase-in. Group 1: Southern portion of the county. Group 2: Northeastern portion of the county. Group 3: Northwestern and Central portion of the county. 49 Exhibit 3

54 Average Existing House Sale Price County CY 2006 Anne Arundel Balitmore City % Change vs Prior Year CY 2007 % Change vs Prior Year CY 2008 % Change vs Prior Year CY 2009 % Change vs Prior Year CY 2010 % Change vs Prior Year $418, % $416, % $393, % $351, % $369, % $175, % $183, % $182, % $159, % $150, % Baltimore $300, % $308, % $291, % $264, % $272, % Baltimore Metro $309, % $316, % $305, % $277, % $281, % Calvert $403, % $400, % $349, % $323, % $304, % Carroll $362, % $364, % $325, % $294, % $297, % Charles $360, % $354, % $313, % $273, % $256, % Frederick $363, % $350, % $306, % $265, % $263, % Harford $293, % $296, % $287, % $268, % $271, % Howard $453, % $456, % $439, % $389, % $398, % Washington $260, % $243, % $217, % $186, % $174, % Source: Metropolitan Regional Information Systems, Inc., National Association of REALTOR, Real Estate Trend Indicator Notes: 2010 average house price reflects the first eight months of 2010 Baltimore Metropolitan Area includes Anne Arundel, Baltimore, Carroll, Harford and Howard Counties and Baltimore City. 50 Exhibit 4

55 Home Sales by Price Class Jan 06 % of Jan 09 % of Jan 10 % of % Change % Change % Change - Total - Total - Total In Volume In Volume In Volume PRICE CLASS Aug 06 Sales Aug 09 Sales Aug 10 Sales 06 vs vs vs 10 Under $100, % % % % % 5.00% $100, , % % % 27.59% 27.59% 0.00% $150, , % % % 26.09% 60.87% 27.59% $200, , % % % -1.60% % % $250, , % % % % % % $300, , % % % % % 6.73% $350, , % % % % % 10.14% $400, , % % % % % 5.26% $450, , % % % % % 14.29% $500, , % % % % % % $600, , % % % % % 21.43% $700, , % % % % % % $800, , % % % % % % $900, , % % % % % - $1,000,000 & over % % % % % - Totals % % % % % -3.35% Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data Note: 2006 is used for comparison purposes since it is widely viewed as the peak of the housing market. 51 Exhibit 5

56 Building Permits Residential Fiscal Year Applications Issued U&O's ,193 1,172 1, ,411 1,347 1, ,280 1,177 1, Source: FY 01-FY 10 Carroll County Bureau of Permits and Inspections Exhibit 6 52

57 Building Permits Commercial/Industrial Fiscal Year Applications Issued U&O's Source: FY 01-FY 10 Carroll County Bureau of Permits and Inspections Exhibit 7 53

58 Real Property Percent of Base Fiscal % Commercial Year % Residential % Agricultural & Industrial % 5.73% 12.64% % 5.64% 12.23% % 5.51% 12.49% % 5.41% 12.40% % 5.30% 11.84% % 5.19% 11.45% % 5.10% 11.33% % 5.04% 10.66% % 5.07% 10.22% % 5.13% 9.91% % 5.47% 10.59% Source: Maryland State Department of Assessments and Taxation, AIMS 2 report 54 Exhibit 8

59 Population Growth Calendar Year Population Annual Growth Cumulative Growth Since , , % 2.69% , % 4.75% , % 6.33% , % 8.08% , % 9.56% , % 10.32% , % 10.84% , % 11.26% , % 11.45% Source: Carroll County Department of Planning whose sources included the Carroll County Bureau of Permits and Inspections and the U.S. Census Bureau Note: Population estimates and projections are provided by the Carroll County Department of Planning population figures are end of year estimates; 2010 estimate is through June of 2010 Exhibit 9 55

60 High School Graduation Rates Jurisdiction Anne Arundel County 81.35% 83.68% 83.35% 82.96% 86.33% 87.78% 89.14% 90.60% Baltimore City 58.49% 54.18% 54.30% 58.99% 60.63% 60.05% 62.65% 62.69% Baltimore County 88.04% 88.24% 86.08% 84.78% 83.25% 83.30% 82.21% 83.56% Carroll County 90.48% 91.87% 92.51% 93.78% 95.07% 94.18% 93.81% 95.47% Harford County 83.02% 85.21% 86.71% 88.99% 87.22% 87.17% 86.72% 86.73% Howard County 91.86% 92.95% 93.14% 93.80% 94.11% 94.79% 94.87% 93.64% State of Maryland 83.83% 84.68% 84.29% 84.83% 85.44% 85.24% 85.09% 85.24% Queen Anne's County 88.91% 89.00% 86.15% 87.73% 88.11% 86.35% 88.92% 90.58% Source: Maryland State Department of Education Website Maryland Report Card Note: The graduation rate is the percentage of students who received a Maryland high school diploma during the reported school year. This is an estimated cohort rate. It is calculated by dividing the number of high school graduates by the sum of the dropouts for grades 9 through 12, respectively, in consecutive years, plus the number of high school graduates. The performance standard for graduation rate for Adequate Yearly Progress (AYP) in 2009 was 90%. 56 Exhibit 10

61 Educational Attainment Persons age 25 Years and Over Population % of Population % of Population % of over age 25 Total over age 25 Total over age 25 Total 79, % 98, % 112, % Less than 9th grade 6, % 4, % 3, % High School / No diploma High School / Graduate Some college/ No degree 10, % 10, % 7, % 27, % 32, % 37, % 19, % 20, % 22, % Associate's degree 4, % 6, % 7, % Bachelor's degree 9, % 15, % 22, % Graduate / Professional degree High School Graduate or Higher 5, % 8, % 10, % 66, % 84, % 100, % Source: US Census Bureau 1990 and 2000 Censuses of Population and Housing, persons 25 years and over Source: US Census Bureau Website: 2008 American Community Survey Note: The 2008 ACS one-year estimates are based on data collected between January 2008 and December Exhibit 11 57

62 Median Household Income CY CY CY CY CY CY Jurisdiction Anne Arundel $73,350 $75,300 $78,000 $80,850 $82,450 $82,400 Baltimore City 33,450 34,650 35,450 37,250 39,400 40,550 Baltimore County 57,000 57,150 59,800 62,050 63,400 63,550 Baltimore Region* 58,400 59,900 62,550 65,200 67,000 67,400 Carroll 69,450 72,150 75,600 78,000 79,450 79,300 Harford 67,250 69,400 72,700 75,150 76,050 76,450 Howard 87,550 90,550 94,500 99, , ,100 Queen Anne's 68,150 69,600 72,150 74,550 75,600 75,250 Washington 46,000 46,950 48,850 50,650 52,600 53,600 State of MD 61,200 62,850 65,250 67,700 69,550 70,050 Source: Maryland Department of Planning, Planning Data Services, May 2010 * Baltimore Region consists of Baltimore City, Anne Arundel, Baltimore, Carroll, Harford, and Howard Counties. Exhibit 12 58

63 Per Capita Personal Income Compound Annual Dollars per Growth Calendar Year Anne Arundel $42,054 $45,721 $48,410 $51,547 $53,660 $54, % Baltimore City 27,932 29,685 31,342 32,647 34,334 36, % Baltimore County 40,403 42,850 43,974 47,134 48,923 50, % Baltimore Region 37,691 40,211 42,079 44,658 46,604 47, % Carroll 35,582 36,405 38,115 40,165 41,460 42, % Frederick 35,705 37,765 39,560 41,861 43,716 45, % Harford 35,821 37,550 39,491 41,863 43,989 45, % Howard 48,190 52,128 55,044 58,451 61,221 62, % Washington 27,789 29,503 30,883 32,567 33,817 35, % State of Maryland 38,200 40,598 42,547 45,041 46,922 48, % Source: US Department of Commerce, Bureau of Economic Analysis, April Exhibit 13

64 Percent of Net Taxable Income Adjusted Gross Income CY CY CY CY CY by Tax Bracket $0 to $49, % 15.56% 14.82% 13.84% 13.40% $50,000 to $99, % 31.80% 29.40% 27.04% 26.24% $100,000 to $149, % 24.19% 24.82% 24.76% 25.87% $150,000 to $199, % 10.50% 11.65% 12.79% 14.53% $200,000 and Over 14.73% 17.94% 19.31% 21.57% 19.95% Source: Comptroller of Maryland, Income Tax Summary Report 2004 through 2008 for Carroll County Note: All figures are based on current dollars. 60 Exhibit 14

65 Net Taxable Income Adjusted Gross Income CY CY CY CY CY by Tax Bracket (millions) $0 to $49,999 $529 $529 $530 $528 $485 $50,000 to $99,999 1,079 1,081 1,051 1, $100,000 to $149, $150,000 to $199, $200,000 and Over Total $3,125 $3,400 $3,573 $3,819 $3,619 Source: Comptroller of Maryland Income Tax Summary Report 2004 through 2008 for Carroll County. 61 Exhibit 15

66 Average Annual Unemployment Rates Calendar Carroll Baltimore Year County Region Maryland National % 4.4% 3.9% 4.0% % 4.2% 3.7% 4.7% % 4.8% 4.5% 5.8% % 4.8% 4.5% 6.0% % 4.7% 4.3% 5.5% % 4.4% 4.1% 5.1% % 4.0% 3.8% 4.6% % 3.7% 3.5% 4.6% % 4.6% 4.4% 5.8% % 7.4% 7.0% 9.3% % 8.0% 7.6% 9.7% Sources: Bureau of Labor Statistics Maryland Department of Labor, Licensing and Regulation Note: 2010 figures avg through June Only national unemployement rate is seasonally adjusted. Baltimore Region consists of Anne Arundel, Baltimore, Carroll, Harford, Queen Anne's and Howard Counties and Baltimore City. Exhibit 16 62

67 Labor Force Annual Growth Area Carroll County Government Sector Total Private Sector Total Manufacturing Contract Construction Finance, Insurance & Real Estate Total Average Annual Growth % 3.17% -0.95% 6.26% -5.22% 3.25% % 4.09% -4.37% 7.23% 13.17% 3.75% % 3.51% -7.43% 0.48% 2.04% 3.28% % 0.02% -3.69% -1.84% 6.19% 0.54% % 4.02% -1.08% 6.08% 0.55% 3.85% % 3.48% 2.33% 6.30% -0.30% 3.47% % 3.10% 2.96% 4.45% 7.51% 3.09% % 2.12% -2.11% -9.08% -2.20% 2.15% % -0.24% -2.60% -9.38% -8.29% 0.22% % -4.90% -8.17% % -1.63% -4.32% Baltimore Region % 3.25% -1.15% 3.95% -0.29% 2.70% % 0.79% -5.48% 3.93% 6.84% 0.88% % -0.65% -6.70% -0.74% 1.68% -0.40% % 0.20% -5.93% 0.57% 2.43% 0.05% % 1.85% -5.13% 6.89% 0.09% 1.25% % 1.37% -1.27% 5.11% -0.68% 1.21% % 1.19% -2.65% 3.15% -0.87% 1.24% % 0.87% -3.61% -0.85% -2.76% 0.86% % -0.65% -2.11% -3.89% -3.40% -0.38% % -4.22% -8.59% % -5.56% -3.33% Maryland % 2.69% 1.94% 4.54% -0.90% 2.45% % 0.37% -6.52% 5.35% 7.68% 0.79% % -0.15% -6.82% 0.51% 1.59% 0.18% % 0.35% -5.79% 1.07% 3.34% 0.29% % 1.55% -3.13% 5.06% 0.08% 1.09% % 1.69% -1.75% 3.93% 1.20% 1.48% % 1.26% -3.08% 3.03% -0.32% 1.31% % 0.52% -3.40% -0.29% -2.01% 0.66% % -0.89% -2.47% -5.22% -3.45% -0.37% % -4.01% -7.58% % -4.88% -3.01% Source: Maryland Department of Labor, Licensing and Regulation Note: Baltimore Region consists of Anne Arundel, Baltimore, Carroll, Harford, Queen Anne's and Howard Counties and Baltimore City. Exhibit 17 63

68 Business Composition CY CY CY CY CY CY % Industry Sectors Gain/Loss Goods Producing Natural Resources & Mining % Construction 1,028 1,069 1,139 1,139 1,097 1, % Manufacturing % Service Providing Trade, Trans & Utilities % Information % Financial Activities % Professional & Business % Education & Health % Leisure & Hospitality % Other Services % Unclassified/All others % TOTAL PRIVATE 4,507 4,655 4,808 4,865 4,815 4, % GOVERNMENT SECTOR % TOTAL ALL INDUSTRY 4,572 4,740 4,892 4,948 4,901 4, % Source: MD Dept. of Labor, Licensing and Regulation - Career and Workforce Information - Employment and Payrolls Note: Figures represent the average number of reporting units for each calendar year. Exhibit 18 64

69 Employment Composition CY CY CY CY CY CY % Industry Sectors Gain/Loss Goods Producing Natural Resources & Mining % Construction 6,910 7,345 7,672 6,975 6,321 5, % Manufacturing 4,594 4,701 4,840 4,738 4,615 4, % Service Providing Trade, Trans & Utilities 11,087 11,407 11,681 12,531 12,190 11, % Information % Financial Activities 1,657 1,652 1,776 1,737 1,593 1, % Professional & Business 4,493 4,703 4,706 5,228 5,946 5, % Education & Health 7,391 7,810 8,220 8,665 8,938 8, % Leisure & Hospitality 5,558 5,637 5,760 5,787 5,923 5, % Other Services 2,138 2,250 2,277 2,276 2,264 2, % Unclassified/All others % TOTAL PRIVATE 44,716 46,270 47,706 48,715 48,600 46, % GOVERNMENT SECTOR 7,553 7,812 8,049 8,240 8,482 8, % TOTAL ALL INDUSTRY 52,269 54,082 55,755 56,955 57,082 54, % Source: MD Dept. of Labor, Licensing and Regulation - Career and Workforce Information - Employment and Payrolls Note: Figures represent the average annual employment for each calendar year. 65 Exhibit 19

70 Weekly Wages CY CY CY CY CY CY % Industry Sectors Gain/Loss Goods Producing Natural Resources & Mining $470 $512 $519 $517 $567 $ % Construction % Manufacturing , % Service Providing Trade, Trans & Utilities $529 $532 $544 $537 $538 $ % Information % Financial Activities % Professional & Business % Education & Health % Leisure & Hospitality % Other Services % Unclassified/All others 611 1, % TOTAL PRIVATE $577 $597 $624 $637 $646 $ % GOVERNMENT SECTOR $699 $720 $724 $783 $808 $ % ALL INDUSTRY $595 $615 $639 $658 $670 $ % Source: MD Dept. of Labor, Licensing and Regulation - Career and Workforce Information - Employment and Payrolls Note: Figures represent the average weekly wage per worker for the calendar year. 66 Exhibit 20

71 Local Income Tax Fiscal Income Tax % Year Collected Change ,230, % ,517, % ,480, % ,191, % ,818, % ,577, % ,272, % ,251, % ,511, % ,309, % ,000, % ,100, % ,526, % ,277, % ,434, % ,020, % Source: FY 01-FY 10 Carroll County CAFR Source: FY 11-FY 16 local income tax revenues are projected by Department of Management and Budget. Notes: Local income tax (shown in above table) represents General Fund dollars only. Approximately 9.1% of income tax revenues are dedicated to the Capital Budget and are not included in this chart. Exhibit 21 67

72 Property Tax Revenues Real $ Property Tax Fiscal Property Tax % Collections % Property Year Collected Increase (1996 =100) Increase Tax Rate ,256, % 93,529, % ,026, % 96,483, % 1.048/ ,417, % 99,326, % 1.048/ ,407, % 101,595, % 1.048/ ,226, % 106,377, % 1.048/ ,192, % 111,174, % 1.048/ ,112, % 118,468, % 1.048/ ,354, % 124,986, % 1.048/ ,079, % 135,236, % 1.048/ ,123, % 142,641, % 1.048/ ,693, % 142,988, % 1.048/ ,799, % 142,220, % 1.048/ ,052, % 138,241, % 1.048/ ,801, % 135,939, % 1.048/ ,605, % 134,903, % 1.048/ ,579, % 135,096, % 1.048/2.62 Sources: FY 01-FY 10 Carroll County CAFR, FY 11-FY 16 projected by the Department of Management and Budget Notes: In FY 02 the real property tax rate changed from being based on 40% of value to 100% of value. Therefore, the real property tax rate dropped from $2.62 to $ The personal property tax rate remained at $2.62. A 3% annual increase in the CPI is assumed for the FY 11 through FY 16 projections of property tax converted to real dollars. 68 Exhibit 22

73 Recordation Tax Fiscal Recordation Tax % Year Collected Change ,681, % ,157, % ,152, % ,238, % ,207, % ,782, % ,902, % ,948, % ,220, % ,154, % ,000, % ,000, % ,000, % ,000, % ,000, % ,000, % Sources: FY 01-FY 10 Carroll County CAFR. FY is projected by the Department of Management and Budget. Note: The Recordation rate changed in FY 04 from $3.50 per $500 to $5.00 per $500 Exhibit 23 69

74 Adopted Operating Plan Fiscal Years FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Department/Agency Budget Planned Planned Planned Planned Planned General Government Comptroller Administration 262, , , , , ,975 Accounting 663, , , , , ,291 Bond Issuance Expense 160, , , , , ,081 Collections Office 436, , , , , ,727 Independent Post Audit 47,000 47,000 48,410 49,862 51,358 52,899 Purchasing 361, , , , , ,309 Total Comptroller 1,930,130 1,930,130 1,988,011 2,047,628 2,109,034 2,172,282 County Attorney 941, , , ,209 1,029,185 1,060,060 Board of License Commissioners 48,580 48,580 50,037 51,539 53,085 54,677 Board of Zoning Appeals 83,950 83,950 86,469 89,063 91,734 94,486 Total County Attorney 1,074,380 1,074,380 1,106,611 1,139,810 1,174,004 1,209,224 Economic Development Administration 573, , , , , ,995 CCBERC 145, , , , , ,054 Economic Development Infrastructure and Grants 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 Tourism 280, , , , , ,632 Total Economic Development 3,998,830 3,978,830 4,008,195 4,038,441 4,069,594 4,101,682 General Services Administration 177, , , , , ,677 Building Construction 234, , , , , ,146 Central Warehouse 165, , , , , ,259 Facilities 8,630,200 8,619,805 8,887,349 9,152,920 9,435,457 9,717,471 Fleet Management 5,272,000 6,632,500 6,666,665 6,908,715 7,169,723 7,734,827 Permits and Inspections 1,015,080 1,019,080 1,047,152 1,081,067 1,110,999 1,146,829 Total General Services 15,494,480 16,848,085 17,195,168 17,754,523 18,346,355 19,248,208 Health and Fringe Benefits 20,100,000 22,331,280 24,652,805 27,177,051 29,877,758 32,783,841 Payroll Taxes - FICA, Med., Unem. 3,040,000 3,069,450 3,154,993 3,251,080 3,345,811 3,443,599 Human Resources Administration 653, , , , , ,970 Personnel Services 79,170 79,170 81,545 83,991 86,511 89,107 Total Human Resources 23,873,070 26,133,800 28,562,860 31,205,845 34,024,614 37,052,516 Department of Technology Services 2,841,500 3,169,189 3,276,574 3,044,151 3,132,086 3,224,158 Production and Distribution 400, , , , , ,530 Total Department of Technology Svcs 3,241,790 3,569,479 3,688,873 3,468,819 3,569,493 3,674,688 Management and Budget Administration 161, , , , , ,826 Budget 452, , , , , ,507 Grant Management 117, , , , , ,045 Risk Management 3,960,420 3,750,351 3,547,233 3,350,493 3,158,798 2,972,396 Total Management and Budget 4,691,980 4,481,911 4,300,739 4,126,605 3,958,194 3,795,774 Planning Administration 629, , , , , ,879 Comprehensive Planning 554, , , , , ,072 Development Review 373, , , , , ,905 Resource Management 910, , , , ,346 1,025,206 Total Planning 2,468,120 2,468,260 2,542,315 2,618,588 2,697,148 2,778,063 TV Production 106, , , , , ,867 Board of Elections 752, , , , , ,086 County Commissioners 842, , , , ,840 1,024,670 Office of Public Information 128, , , , , ,347 Management Analysis 147, , , , , ,335 Zoning Administration 139, , , , , ,907 Total General Government Other 2,116,670 2,096,342 2,158,177 2,134,707 2,392,103 2,366,211 Total General Government 58,889,450 62,581,217 65,550,948 68,534,964 72,340,539 76,398, Exhibit 24

75 Adopted Operating Plan Fiscal Years FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Department/Agency Budget Planned Planned Planned Planned Planned Public Safety and Correction Circuit Court 1,308,540 1,308,540 1,349,236 1,389,608 1,431,192 1,474,022 Circuit Court Masters 506, , , , , ,363 Orphans Court 31,960 31,960 32,019 32,079 32,142 32,206 Volunteer Community Service Program 133, , , , , ,559 Total Courts 1,981,030 1,981,030 2,041,001 2,101,226 2,163,258 2,227,150 Emergency Management 20,070 25,445 26,208 26,994 27,804 28,639 Office of Public Safety and 911 2,994,150 3,221,116 3,252,859 3,350,445 3,450,958 3,554,487 Total Public Safety 3,014,220 3,246,561 3,279,067 3,377,439 3,478,762 3,583,126 Detention Center 6,528,580 6,546,197 6,757,274 6,975,262 7,200,402 7,432,110 Sheriff's Services 4,975,590 4,974,450 5,123,692 5,277,399 5,435,727 5,598,764 Total Sheriff's Services 11,504,170 11,520,647 11,880,965 12,252,661 12,636,129 13,030,874 State's Attorney-Criminal Prosecution 2,093,920 2,093,545 2,156,351 2,221,042 2,287,673 2,356,303 Victim Witness Assistance 204, , , , , ,279 Carroll County Advocacy and Investigation Center 119, , , , , ,016 Total State's Attorney 2,418,480 2,418,105 2,490,648 2,565,368 2,642,329 2,721,598 Animal Control 757, , , , , ,652 EMS 24/7 Services 3,679,760 3,679,760 3,790,153 3,903,857 4,020,973 4,141,602 Resident Trooper Program 5,960,520 5,683,125 5,967,281 6,265,645 6,578,928 6,907,874 Law Enforcement 0 456, , , , ,289 Volunteer Emergency Services Association 6,337,280 6,337,280 6,527,398 6,723,220 6,924,917 7,132,664 Total Public Safety and Corrections Other 16,735,130 16,956,467 17,581,169 18,329,333 19,059,982 19,871,081 Total Public Safety and Correction 35,653,030 36,122,809 37,272,850 38,626,027 39,980,460 41,433,830 Public Works Public Works Administration 210, , , , , ,582 Engineering Administration 216, , , , , ,633 Engineering-Construction Inspection 263, , , , , ,376 Engineering-Design 326, , , , , ,276 Engineering Survey 202, , , , , ,107 Roads Operations 6,766,140 6,768,090 6,970,981 7,179,959 7,395,206 7,616,911 Storm Emergencies 1,800,000 1,748,559 1,786,080 1,839,663 1,894,853 1,951,698 Traffic Control 274, , , , , ,121 Total Public Works 10,059,990 10,013,899 10,305,727 10,629,447 10,943,549 11,271,704 Citizen Services Citizen Services Administration 206, , , , , ,915 Aging 721, , , , , ,630 Total Citizen Services 928, , ,948 1,015,976 1,046,305 1,077,544 Access Carroll 20,000 20,000 20,600 21,218 21,855 22,510 ARC of Carroll County 246, , , , , ,258 Change 246, , , , , ,258 Long Term Treatment Facility 1,125,500 1,125,500 1,159,265 1,194,043 1,229,864 1,266,760 Family and Children's Services Domestic Violence 73,150 73,150 75,345 77,605 79,933 82,331 Family and Children's Services Sexual Abuse Treatment 202, , , , , ,465 Mosaic Community Services Inc 106, , , , , ,405 Health Department 3,426,910 3,426,910 3,529,717 3,635,609 3,744,677 3,857,017 Human Services Program 821, , , , , ,065 Junction 146, , , , , ,191 Rape Crisis Intervention Service 85,240 85,240 87,797 90,431 93,144 95,938 Social Services 20,000 20,000 20,000 20,000 20,000 20,000 Target, Community and Educational Service 246, , , , , ,182 Youth Services Bureau 561, , , , , ,917 Total Citizen Services Other 7,327,250 7,327,250 7,546,468 7,772,262 8,004,829 8,236,299 Total Citizen Services 8,255,500 8,255,500 8,502,415 8,788,237 9,051,135 9,313,843 Public Schools Board of Education 164,900, ,900, ,847, ,942, ,190, ,596,403 Board of Education Debt Service 12,060,000 14,812,733 14,507,458 14,529,566 14,549,401 13,979,847 Total Public Schools 176,960, ,712, ,354, ,471, ,740, ,576, Exhibit 24

76 Adopted Operating Plan Fiscal Years FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Department/Agency Budget Planned Planned Planned Planned Planned Education Other Cable Regulatory Commission 110, , , , , ,087 Carroll County Community College 6,933,000 6,933,000 7,140,990 7,355,220 7,575,876 7,803,153 Carroll County Public Library 7,635,000 7,635,000 7,864,050 8,099,972 8,342,971 8,593,260 Community Media Center 430, , , , , ,969 Total Education Other 15,108,250 15,108,250 15,561,498 16,028,342 16,509,193 17,004,468 Culture and Recreation Services Recreation Services Administration 267, , , , , ,401 Hashawha 629, , , , , ,662 Piney Run Park 402, , , , , ,074 Recreation 338, , , , , ,658 Sports Complex 201, , , , , ,026 Total Recreation and Parks 1,839,810 1,844,210 1,894,409 1,956,350 2,009,045 2,068,821 Farm Museum 712, , , , , ,301 Historical Society of Carroll County 60,000 60,000 60,000 60,000 60,000 60,000 Homestead Museum 20,000 20,000 20,000 20,000 20,000 20,000 Total Culture and Recreation Other 792, , , , , ,301 Total Culture and Recreation Services 2,632,700 2,638,100 2,709,921 2,794,124 2,869,743 2,953,123 Conservation and Natural Resources Cooperative Extension 452, , , , , ,405 Gypsy Moth 30,000 30,000 30,900 31,827 32,782 33,765 Soil Conservation 337, , , , , ,309 Weed Control 29,700 29,700 30,591 31,509 32,454 33,428 Total Conservation and Natural Resources 850, , , , , ,908 Debt and Transfers Debt Service 27,325,000 30,045,104 30,816,163 33,791,253 36,511,978 38,450,834 Intergovernmental Transfers 2,670,000 2,670,000 2,776,800 2,887,872 3,003,387 3,123,522 Debt and Transfers 29,995,000 32,715,104 33,592,963 36,679,125 39,515,364 41,574,356 Reserves Reserve for Contingencies 6,215,910 4,504,622 4,644,150 4,799,373 4,971,300 5,169,589 Reserve for Positions Reserve for One-time Expenditures Total Reserves 6,215,910 4,504,622 4,644,150 4,799,373 4,971,300 5,169,589 Interfund Transfers Transfer to Grant Fund - Aging 111, , , , , ,875 Transfer to Capital Fund 0 892,100 1,150,400 1,275,400 1,098, ,300 Transfer to Grant Fund - CCC for ABE 300, , , , , ,000 Transfer to Grant Fund - Planning 644, , , , , ,023 Transfer to Grant Fund - Recreation 8,100 8,100 8,100 8,100 8,100 8,100 Transfer to Grant Fund - Sheriff and Courts 167, , , , , ,748 Transfer to Grant Fund - State's Attorney/CCAIC 314, , , , , ,074 Transfer to Grant Fund - Local Management Board 71,500 72,333 75,012 77,808 80,725 83,771 Transfer to Grant Fund - Health Department Grant 4,000 4,000 4,000 4,000 4,000 4,000 Transfer to Solid Waste Enterprise Fund 2,545,000 2,545,000 2,545,000 2,545,000 2,545,000 2,545,000 Transfer to Utilities Enterprise Fund 212, , , , , ,542 Total Interfund Transfers 4,379,970 5,270,733 5,579,975 5,757,816 5,636,140 5,486,433 Projected Revenues 349,000, ,369, ,531, ,949, ,704, ,567,121 Projected Expenditures 349,000, ,773, ,950, ,011, ,486, ,139,151 Balance $0 $2,596,628 $2,581,358 $938,441 $217,461 $2,427,970 Balance as a Percent of Revenues 0.0% 0.7% 0.7% 0.2% 0.1% 0.6% 72 Exhibit 24

77 Operating Plan Summary Fiscal Years FY 11 FY12 FY13 FY14 FY15 FY16 Budget Planned Planned Planned Planned Planned Public School Debt Service $12,060,000 $14,812,733 $14,507,458 $14,526,566 $14,549,401 $13,979,847 Other Debt Service 27,325,000 30,045,104 30,816,163 33,791,253 36,511,978 38,450,534 Total Debt Service $39,385,000 $44,857,837 $45,323,621 $48,317,819 $51,061,379 $52,430,381 Percent Growth 9.46% 13.90% 1.04% 6.61% 5.68% 2.68% % of Total Budget 11.29% 12.45% 12.20% 12.58% 12.84% 12.68% Public Schools 164,900, ,900, ,847, ,942, ,190, ,596,403 Percent Growth -1.67% 0.00% 3.00% 3.00% 3.00% 3.00% % of Total Budget 47.25% 45.76% 45.72% 45.56% 45.31% 44.88% Public Safety 36,122,809 36,122,809 37,272,850 38,626,027 39,980,460 41,433,830 Percent Growth -0.32% 0.00% 3.18% 3.63% 3.51% 3.64% % of Total Budget 10.35% 10.02% 10.03% 10.06% 10.05% 10.02% All Other Funding 108,592, ,892, ,507, ,125, ,254, ,678,537 Percent Growth -4.81% 3.04% 4.12% 3.96% 4.23% 4.30% % of Total Budget 31.12% 31.05% 31.36% 31.55% 31.75% 31.84% Projected Budgets $349,000,000 $357,773,166 $368,950,610 $383,011,412 $397,486,542 $411,139,151 Revenue Projections $349,000,000 $360,369,793 $371,531,969 $383,949,853 $397,704,003 $413,567,121 Percent Growth -1.41% 3.26% 3.10% 3.34% 3.58% 3.99% Source: Carroll County, Maryland - FY 11 Adopted Operating Budget Book Exhibit 25 73

78 Six Year Revenue Forecast FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Budget Planned Planned Planned Planned Planned Real Property - All Funds 194,488, ,351, ,351, ,843, ,384, ,091,975 % Change 3.57% 2.50% 0.00% 1.25% 2.25% 3.25% Prop tax directly in Cap Fund (2,474,000) (2,435,000) (2,307,000) (1,380,000) (1,749,000) (1,948,400) % Change % -1.58% -5.26% % 26.74% 11.40% Railroad & Public Utility 7,100,000 7,206,500 7,314,598 7,424,316 7,535,681 7,648,716 % Change -4.05% 1.50% 1.50% 1.50% 1.50% 1.50% Total Business Tax 7,100,000 7,242,000 7,386,840 7,534,577 7,685,268 7,838,974 % Change 0.00% 2.00% 2.00% 2.00% 2.00% 2.00% Total Property tax 206,214, ,364, ,745, ,421, ,856, ,631,265 % Change 4.11% 2.50% 0.18% 1.74% 2.06% 3.08% Income Tax 102,000, ,100, ,526, ,277, ,434, ,020,266 % Change -1.92% 5.00% 5.07% 6.00% 6.00% 6.00% Recordation 10,000,000 11,000,000 12,000,000 13,000,000 14,000,000 15,000,000 % Change 11.11% 10.00% 9.09% 8.33% 7.69% 7.14% Highway User Revenue % Change % N/A N/A N/A N/A N/A Building Permits 400, , , , ,000 1,000,000 % Change 33.33% 50.00% 16.67% 14.29% 12.50% 11.11% 911 Service Fee 1,225,000 1,274,000 1,324,960 1,377,958 1,433,077 1,490,400 % Change 0.00% 4.00% 4.00% 4.00% 4.00% 4.00% Interest - Earned 900,000 3,000,000 6,000,000 6,300,000 6,615,000 6,945,750 % Change % % % 5.00% 5.00% 5.00% Total Major Revenues 320,739, ,338, ,296, ,177, ,238, ,087,681 % Change 0.64% 4.24% 2.98% 3.45% 3.67% 4.29% Tier 2 Revenues * 5,014,500 5,164,830 5,678,934 5,848,925 6,024,230 6,205,013 % Change 2.86% 3.00% 9.95% 2.99% 3.00% 3.00% Tier 3 Revenues ** 3,344,319 3,444,649 3,547,988 3,654,428 3,764,060 3,876,982 % Change % 3.00% 3.00% 3.00% 3.00% 3.00% Annual Revenues 329,098, ,948, ,523, ,680, ,027, ,169,676 % Change 0.43% 4.21% 3.08% 3.44% 3.65% 4.26% Prior Year Unapprop Reserve 8,103,281 3,200,071 3,315,727 3,453,831 3,558,304 3,670,608 % Change % % 3.61% 4.17% 3.02% 3.16% Transfer from Spec Rev Fund 1,110,000 1,143,300 1,177,599 1,212,927 1,249,315 1,286,794 % Change -9.47% 3.00% 3.00% 3.00% 3.00% 3.00% Transfer from Cap Fund - Inc Tax For Debt Service 9,950,000 12,878,176 13,515,200 13,602,319 13,869,375 13,440,043 % Change 2.68% 29.43% 4.95% 0.64% 1.96% -3.10% Prior Year IPA 738, , % Change % % % N/A N/A N/A Total Revenues 349,000, ,369, ,531, ,949, ,704, ,567,121 % Change -1.55% 3.26% 3.10% 3.34% 3.58% 3.99% * There are approximately 15 Tier 2 revenues. They generally fall between $200,000 and $800,000 on an annual basis. ** There are approximately 80 Tier 3 revenues. They generally are below $200,000 on an annual basis. 74 Exhibit 26

79 Code of Public Local Laws of Carroll County, Article 7, 3-62 (19) The County Commissioners of Carroll County shall establish orderly procedures for budgeting and finance which shall: (19) provide that the surplus funds of the County, whether from unexpended appropriations or from revenue collections in excess of the revenue estimates, shall be included as a revenue for the budget for the next fiscal year. The surplus shall include: (i) the actual surplus for the prior fiscal year less the anticipated surplus, if any, used to fund the current year's budget; (ii) an estimate of the anticipated surplus for the current fiscal year; and (iii) any unexpended funds from the proceeds of a bond issue, if the legislation authorizing the issuance of bonds does not provide for the utilization of unexpended funds; 75 Exhibit 27

80 Operating Surplus FY FY FY FY FY General Fund Revenues $261,204,962 $283,298,058 $308,314,848 $323,819,766 $324,514,793 General Fund Expenditures 269,177, ,359, ,253, ,618, ,928,266 Other Financing Sources (Uses) 4,622,051 4,268,059 2,474,914 3,930,973 13,895,895 Net Change in Fund Balance ($3,350,834) $1,207,029 $4,536,412 ($2,867,986) ($1,517,578) $5,000,000 Net Change in Fund Balance $4,536,412 In Millions $2,500,000 $0 ($2,500,000) ($3,350,834) $1,207,029 ($2,867,986) ($1,517,578) ($5,000,000) Fiscal Year Note: Starting June 30, 2002 component unit transfers now considered expenditures - GASB 34. Exhibit 28 76

81 Outstanding Delinquent Property Taxes Total Current % of Total % of Total Outstanding % of Fiscal Tax Tax Levy Tax Collections Delinquent Delinquent to Year Levy Collections Collected Collections to Levy Taxes Tax Levy ,612, ,744, % 148,577, % 34, % ,127, ,106, % 170,078, % 48, % ,841, ,780, % 195,714, % 126, % ,210, ,514, % 221,976, % 233, % ,647, ,543, % 238,543, % 1,104, % Outstanding Delinquent Property Taxes 0.50% 0.45% 0.40% 0.35% 0.30% 0.25% 0.20% 0.15% 0.10% 0.05% 0.00% 0.46% 0.11% 0.06% 0.02% 0.03% Fiscal Year Notes: Carroll County implemented GASB 44 for fiscal year Per GASB 44-the focus is on "levies" not fiscal year or tax year. Exhibit 29 77

82 Fund Balance Fund Balance Components of FY FY FY FY FY General Fund: Reserved $29,544,723 $36,345,385 $34,265,738 $34,538,703 $39,429,507 Unreserved/Designated 31,217,889 31,787,678 30,997,138 34,623,762 27,868,281 Stabilization Fund 9,500,000 9,900,000 10,600,000 10,700,000 10,700,000 Secondary Reserve 5,250,000 6,000,000 6,750,000 6,750,000 6,750,000 Unreserved/Undesignated 13,542,642 7,302,102 14,858,762 8,103,281 8,590,820 Total Fund Balance $74,305,254 $75,435,165 $80,121,638 $77,265,746 $75,888,608 Fund Balance as % of General FY FY FY FY FY Fund Revenues: Reserved 11.31% 12.82% 11.01% 10.67% 12.15% Unreserved/Designated 11.95% 11.22% 9.96% 10.66% 8.59% Stabilization Fund 3.63% 3.49% 3.40% 3.30% 3.30% Secondary Reserve 2.01% 2.11% 2.17% 2.08% 2.08% Unreserved/Undesignated 5.18% 2.58% 4.77% 2.53% 2.65% $100,000,000 $80,000,000 $74,305,254 $75,435,165 Total Fund Balance $80,121,638 $77,265,746 $75,888,608 $60,000,000 $40,000,000 $20,000,000 $ Fiscal Year Exhibit 30 78

83 Bureau of Utilities FY FY FY FY FY BUREAU OF UTILITIES Operating Revenue $6,281,659 $7,344,470 $7,668,003 $7,519,559 $7,843,041 Operating Expenses 7,012,878 7,442,767 9,428,241 7,236,715 9,438,228 Net Depreciation Expense Nonoperating (Revenue) Expenses (1,403,285) (2,541,423) (2,615,368) (937,850) (590,432) Operating Transfers In 138, , , , ,200 Operating Transfers Out Capital Contributions 389, , ,655 75, ,563 Change in Net Assets 1,200,076 2,984,543 2,340,635 1,503,069 (377,992) Total Net Assets at Year End $81,768,711 $84,753,254 $87,093,889 $88,596,958 $88,218,966 $12.5 $10.0 Bureau of Utilities In Millions $7.5 $5.0 $2.5 $ Fiscal Year Revenues Expenses Exhibit 31 79

84 Quarterly Residential Water and Sewer Rates TOWN Minimum Fee HAMPSTEAD $28.49 Water Rate Additional Gallons Fees 1st 5,000 MANCHESTER $ MOUNT AIRY $21.18 NEW WINDSOR $ SYKESVILLE *$ TANEYTOWN - - UNION BRIDGE $ WESTMINSTER (inside city limits) WESTMINSTER (outside city limits) 1st 6,000 $ $ $3.44 per 1,000 gal $4.90 per 1,000 gal $5.23 per 1,000 gal $5.61 per 1,000 gal $5.89 per 1,000 gal $6.16 per 1,000 gal $6.60 per 1,000 gal $2.60 per 1,000 gal $3.61 per 1,000 gal $4.03 per 1,000 gal $4.87 per 1,000 gal $5.72 per 1,000 gal $6.57 per 1,000 gal $7.41 per 1,000 gal $2.67 per 1,000 gal $4.62 per 1,000 gal $5.00 per 1,000 gal $5.28 per 1,000 gal $4.04 per 1,000 gal $3.00 per 1,000 gal $3.92 per 1,000 gal $9.79 per 1,000 gal $5.29 per 1,000 gal $13.24 per 1,000 gal Gallons 5,001-20,000 20,001-40,000 40, , , , , , ,001-1,000,000 1,000, ,001-12,000 12,001-20,000 20,001-40,000 40,001-60,000 60,001-80,000 80,001+ Minimum Fee *$ $ Sewer Rate Additional Gallons Fees $5.00 per 1,000 gal - $ st $4.00 per 10,000 1,000 1st $7.27 per 10,000 1,000 gal 10,001 - $8.13 per *$ ,000 1,000 gal 30,001+ $8.77 per 1,000 gal - $ $6.27 per 1,000 gal - $ $4.00 per 1,000 gal 1st 18,000 $4.63 per $ , ,000 gal 1st 18,000 18,000 + $ st 6,000 $ $7.27 per 1,000 gal $8.13 per 1,000 gal $8.77 per 1,000 gal $2.92 per 1,000 gal $6.93 per 1,000 gal Gallons 1st 10,000 10,001-30,000 30, , ,001+ 1st 10,000 10,001-30,000 30, * Service provided by Carroll County Government; rates are Carroll County Government rates. Note: All rates are for FY Exhibit 32

85 Solid Waste Management SOLID WASTE FY FY FY FY FY MANAGEMENT Operating Revenue $6,461,528 $6,609,679 $6,626,896 $6,534,243 $5,907,344 Operating Expenses 7,172,890 7,671,494 7,407,845 7,263,816 8,742,426 Net Depreciation Expense Nonoperating (Revenue) Expenses (133,268) (367,525) (206,670) (78,725) (44,639) Capital contributions Special item- insurance proceeds Operating Transfers In 2,645,000 2,645,000 2,645,000 2,545,000 2,545,000 Change in Net Assets 2,066,906 1,950,710 2,070,721 1,894,152 (245,443) Total Net Assets at Year End ($3,660,238) ($1,709,528) $361,193 $2,255,345 $2,009,902 Solid Waste Management $9.0 $7.5 In Millions $6.0 $4.5 $3.0 $1.5 $ Fiscal Year Revenues Expenses Exhibit 33 81

86 Solid Waste Tonnage Fiscal Year 2010 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Total Inbound Tonnage 5,176 4,474 5,335 7,877 7,233 7,289 7,550 4,958 8,539 8,776 8,454 10,280 85,941 Tipping Fees Revenue $346,489 $294,838 $324,509 $450,567 $415,474 $414,076 $398,111 $284,711 $474,185 $506,687 $479,442 $579,718 $4,968,807 County Hauling 32,133 32,777 32,806 32,446 31,019 30,887 87,748 30,862 30,906 34,805 34,687 32, ,584 Recycling Revenue 12,943 17,270 31,813 1,829 59,448 29,872 6,905 17,077 7,166 75,912 45, , ,818 Total Revenue $391,565 $344,885 $389,128 $484,842 $505,941 $474,835 $492,764 $332,650 $512,257 $617,404 $559,805 $768,133 $5,874,209 Fiscal Year 2009 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Total Inbound Tonnage 8,298 7,893 7,718 7,065 5,952 6,804 5,821 5,569 6,245 7,037 7,564 5,511 81,477 Tipping Fees Revenue $591,012 $561,221 $548,096 $509,286 $431,052 $487,443 $410,316 $397,247 $443,808 $499,226 $481,337 $353,147 $5,713,191 County Hauling 30,570 29,869 32,051 29,666 28,906 29,382 30,360 34,768 29,488 29,452 30,224 31, ,995 Recycling Revenue 67,195 38,628 45,077 34,815 19,466 24,456 34,731 26,893 21,974 26,597 20,468 31, ,874 Total Revenue $688,777 $629,718 $625,224 $573,767 $479,424 $541,281 $475,407 $458,908 $495,270 $555,275 $532,029 $415,980 $6,471,060 Inbound Tonnage Total Revenue Fiscal Year ,941 Fiscal Year 2010 $5,874,209 Fiscal Year ,477 Fiscal Year 2009 $6,471, In Thousands of Tons $0.0 $2.0 $4.0 $6.0 $8.0 In Millions Exhibit 34 82

87 Current Tipping Fees for Maryland Landfills As of July, 2010 Name of Landfill Location Rubble Fee Sanitary Fee Alpha Ridge Landfill Marriottsville, MD $65.00/ton $65.00/ton Appeal Landfill Lusby, MD $70.98/ton $60.88/ton Beaulah Sanitary Landfill Cambridge, MD $55.00/ton $55.00/ton Brown Station Road Landfill Upper Marlboro, MD $54.00/ton $54.00/ton Cecil Central Landfill Elkton, MD $67.20/ton $57.20/ton Charles County Landfill La Plata, MD $70.00/ton $70.00/ton Eastern Sanitary Landfill Towson, MD $80.00/ton $80.00/ton Forty West Landfill Hagerstown, MD $75.00/ton $50.00/ton Garrett County Landfill Oakland, MD $40.00/ton $35.00/ton Harford Waste Dis. Ctr. Landfill Street, MD N/A $50.00/ton Hood's Mill Road Landfill Westminster, MD $78.00/ton $60.00/ton Millersville Landfill Severn, MD $75.00/ton $75.00/ton Mountain View Landfill Frostburg, MD $56.13/ton $44.29/ton Newland Park Sanitary Landfill Salisbury, MD $60.00/ton $60.00/ton Northern Landfill Westminster, MD $78.00/ton $60.00/ton Quarantine Road Landfill Baltimore, MD $67.50/ton $67.50/ton Reichs Ford Sanitary Landfill Frederick, MD $85.00/ton $76.00/ton Worcester Central Landfill Newark, MD $75.00/ton $65.00/ton 83 Exhibit 35

88 Airport Facility FY FY FY FY FY AIRPORT FACILITY Operating Revenue $2,041,458 $1,840,449 $2,222,010 $671,258 $518,581 Operating Expenses 2,096,307 1,956,529 2,975, , ,261 Nonoperating (Revenue) Expenses 138, , , , ,350 Proceeds from Sale of Land - 1,064, Operating Transfers In (out) 83,020 (1,446) 40,000 40,000 - Capital Contributions- Land 26,893 5,603, Capital Contributions-Grants 321, ,572 91, ,454 48,969 Change in Net Assets 238,288 6,787,123 (744,010) 394,020 (262,061) Total Net Assets at Year End $1,769,315 $8,556,438 $7,812,428 $8,206,448 $7,944,387 Airport Facility In Millions $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $ Fiscal Year Revenues Expenses Exhibit 36 84

89 Septage Facility FY FY FY FY FY SEPTAGE Operating Revenue $482,599 $536,845 $387,636 $449,263 $603,550 Operating Expenses 364, , , , ,155 Nonoperating (Revenue) Expenses (1,959) (6,337) (2,722) 2,462 4,936 Change in Net Assets 120, ,284 2,133 65, ,459 Total Net Assets at Year End $131,261 $277,545 $279,678 $345,146 $475,605 Septage In Thousands $700 $600 $500 $400 $300 $200 $100 $ Fiscal Year Revenues Expenses Exhibit 37 85

90 Firearms Facility FY FY FY FY FY FIREARMS FACILITY Operating Revenue $79,649 $59,400 $55,120 $104,713 $111,984 Operating Expenses 60,267 58,238 74,497 77,475 76,281 Net Depreciation Expense Nonoperating (Revenue) Expenses (2,694) (4,526) (5,775) (2,192) (497) Extraordinary Item - - (239,278) - - Change in Net Assets 22,076 5, ,676 29,430 36,200 Total Net Assets at Year End $179,321 $185,009 $410,685 $440,115 $476,315 Firearms Facility $120 In Thousands $100 $80 $60 $40 $20 $ Fiscal Year Revenues Expenses Exhibit 38 86

91 CIP Appropriations and Revenues APPROPRIATIONS FY 11 FY 12 FY 13 FY 14 FY15 FY16 General Government $5,978,561 $5,233,000 $23,860,000 $1,544,000 $1,332,000 $1,179,000 Roads 11,152,000 8,004,500 9,442,000 9,509,000 9,696,650 8,399,350 Bridges 725,000 4,272, , , , ,000 Enterprise Funds 3,431,290 1,725,220 5,967,040 8,463,790 1,388,970 5,929,440 Public Schools 8,802,000 21,435,000 6,390,000 5,367,000 6,993,000 5,835,000 Culture and Recreation 711, , , , , ,800 Conservation 15,977,330 15,639,330 15,355,330 14,923,330 15,342,330 15,811,750 Total Expenditures $46,777,756 $56,609,950 $62,021,770 $40,472,120 $35,993,850 $37,991,340 REVENUES FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Paygo General Fund Transfer $934,884 $892,100 $1,150,400 $1,275,400 $1,098,900 $882,300 Income Tax 455, , , , , ,000 Property Tax 5,232,334 2,435,000 2,307,000 1,380,000 1,749,000 1,948,400 Impact Fees Culture/Rec 28, Impact Fees BOE 0 3,950, Cable Franchise Fee 1,075, Ag Transfer Tax 0 50,000 75, , , ,000 Enterprise Funds 3,316,290 1,725,220 5,567,040 7,933,090 1,388,970 5,929,440 Total Paygo $11,041,508 $9,524,320 $9,583,440 $11,194,490 $4,884,870 $9,425,140 Bonds 28,646,899 26,700,110 46,606,930 23,685,730 24,788,580 23,235,700 State 6,572,950 17,044,400 5,353,000 4,935,600 5,838,000 5,330,500 Federal 466,400 3,341, , , ,400 0 Other 50, , Total Revenues $46,777,757 $56,609,950 $62,021,770 $40,472,120 $35,993,850 $37,991,340 Source: Carroll County, Maryland FY 11-FY 16 Adopted CIP Note: Does not include income taxes transferred to the operating budget for debt service. 87 Exhibit 39

92 Capital Funding Sources Fiscal Interfund Other Total State Other Year Transfers 1 Paygo 2 Paygo Assistance Funding Bonds % 26.86% 35.03% 18.33% 1.71% 44.93% % 16.63% 30.24% 33.73% 1.66% 34.37% % 20.58% 47.21% 32.60% 1.99% 18.19% % 39.98% 48.12% 12.94% 1.49% 37.46% % 15.05% 31.13% 9.88% 5.67% 53.32% % 49.17% 58.39% 14.45% 0.94% 26.22% % 29.41% 41.73% 15.19% 1.15% 41.94% % 18.19% 26.36% 14.06% 3.77% 55.82% % 10.17% 17.48% 20.99% 6.19% 55.34% % 9.29% 16.47% 5.71% 47.21% 30.60% % 14.52% 23.60% 14.05% 1.10% 61.24% % 12.20% 16.82% 30.11% 5.90% 47.17% % 4.62% 15.45% 8.63% 0.77% 75.15% % 4.91% 27.66% 12.20% 1.62% 58.52% % 6.66% 13.57% 16.22% 1.34% 68.87% % 6.88% 24.81% 14.03% 0.00% 61.16% 1 Interfund transfers includes the transfer from the General Fund and the Enterprise Funds. 2 Other paygo includes Property, Income, Ag Transfer Taxes, Impact Fees, Bond Interest and Other County funds. Source: Carroll County, Maryland Adopted CIP FY Notes: Beginning in 1997, a portion of the property tax is dedicated to capital projects. Beginning in 1997, a portion of the income tax is dedicated to capital projects and BOE debt service. Since 1998 that percentage of income tax dedicated to capital has been approximately 9.1%. Does not include impact fees and income taxes transferred to the operating budget for debt service. Other Funding includes: Grants, Federal and other contributions. 88 Exhibit 40

93 CIP Funding/Appropriations for Schools REVENUES FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 General Fund Transfer $0 $0 $0 $0 $0 $0 Income/Property Tax 1,230, , , , , ,000 Bond Interest Impact Fees 0 3,950, Total Paygo $1,230,000 $4,422,000 $484,000 $506,000 $523,000 $540,000 Bonds 3,531,000 2,038,000 2,679,000 2,236,000 2,933,000 2,435,000 State 4,041,000 14,975,000 3,227,000 2,625,000 3,537,000 2,860,000 Total Revenues $8,802,000 $21,435,000 $6,390,000 $5,367,000 $6,993,000 $5,835,000 APPROPRIATIONS FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 New Construction,Additions & Modernizations $3,527,000 $16,803,000 $1,341,000 $86,000 $1,480,000 $95,000 Other Projects 5,275,000 4,632,000 5,049,000 5,281,000 5,513,000 5,740,000 Total Appropriations $8,802,000 $21,435,000 $6,390,000 $5,367,000 $6,993,000 $5,835,000 Source: Carroll County, Maryland FY 11-FY 16 Adopted CIP Note: Does not include income taxes transferred to the operating budget for debt service. 89 Exhibit 41

94 Adequate School Facilities Area School State Rated Capacity Functional Capacity 9/30/09 Enrollment Northern Francis Scott Key HS 1,304-1,149 Northern Manchester Valley HS 1, Northern North Carroll HS 1,359-1,030 Northern Westminster HS 1,879-1,713 Northern Winters Mill HS 1,240-1,199 Total Northern High Schools 7,076-5,663 Southern Century HS 1,240-1,282 Southern Liberty HS 1,063-1,205 Southern South Carroll HS 1,233-1,100 Total Southern High Schools 3,536-3,587 Total High Schools 10,612-9,250 Northern New Windsor MS Northern North Carroll MS Northern Northwest MS Northern Shiloh MS Northern Westminster East MS Northern Westminster West MS 1,146 1,045 1,028 Total Northern Middle Schools 5,434 4,745 4,058 Southern Mt. Airy MS Southern Oklahoma Road MS Southern Sykesville MS Total Southern Middle Schools 2,452 2,100 2,257 Total Middle Schools 7,886 6,845 6,315 Northeast Ebb Valley ES Northeast Hampstead ES Northeast Manchester ES Northeast Spring Garden ES Total Northeast Elementary Schools 2,499-1,945 Northwest Elmer Wolfe ES Northwest Runnymede ES Northwest Taneytown ES Total Northwest Elementary Schools 1,772-1,384 Westminster Charles Carroll ES Westminster Cranberry Station ES Westminster Friendship Valley ES Westminster Mechanicsville ES Westminster Robert Moton ES Westminster Sandymount ES Westminster Westminster ES Westminster Wm. Winchester ES Total Westminster Elementary Schools 4,198-3,880 Southeast Carrolltowne ES Southeast Eldersburg ES Southeast Freedom ES Southeast Linton Springs ES Southeast Piney Ridge ES Total Southeast Elementary Schools 2,995-2,937 Southwest Mt. Airy ES Southwest Parr's Ridge ES Southwest Winfield ES Total Southwest Elementary Schools 1,913-1,653 Total Elementary Schools 13,377-11,799 Total All Schools Capacity vs Enrollment 31,875-27,364 Source: Carroll County Public Schools Educational Facilities Master Plan Exhibit 42 90

95 Agricultural Land Preservation & Land Trust Easements Carroll County, Maryland Exhibit 43 91

96 Appendix 92

97 93

98 94

99 95

100 96

101 97