Comprehensive Annual Financial Report - Harford County Public ...

Harford County Public Schools
Management's Discussion and Analysis (MD&A)
June 30, 2012
The continuing escalation and unpredictability of energy costs remains a vexing problem for this
and all other districts. By action of the Board a $915,000 assignment of fund balance was set
aside for future energy costs to offset whatever future unanticipated costs will arise.
HCPS has not escaped the souring economy. As the State continues to experience reductions in
revenue, a source of relief for the State is passing costs off to local government and Boards of
Education. Of greatest concern are State actions to modify the maintenance of effort calculation
statutorily required by County governments to fund their local school systems, and the transfer of
some part of teacher pension costs previously paid directly by the State. Starting July 2012, the
State transferred part of the teacher pension cost to the local Boards of Education and mandated
county governments to fund that cost.
Contacting Harford County Public Schools' Financial Management
Our financial report is designed to provide our citizens, taxpayers, parents, and students with a
general overview of the HCPS’ finances and to demonstrate its accountability for the money it
receives.
If you have questions about this report or wish to request additional financial information,
contact James M. Jewell, Assistant Superintendent of Business Services at (410) 588-5321 or
John G. Staab, Director of Finance at (410) 588-5237, or at Harford County Public Schools,
Business Services, 102 South Hickory Avenue, Bel Air, Maryland 21014.
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