§ 9-6 Annual financial plan.
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 5, § 9-6 (2026)
§ 9-6 Annual financial plan.LinkCopy Citation
(a)In general.
Subject to the requirements of this section, prior to September 1 of each year, the Board shall adopt an annual financial plan, based on the City’s fiscal year, that includes:
(1)
a budget;
(2)
an amount to be disbursed from the Fund to grantees during the coming fiscal year;
(3)
the balance of the Fund held in accounts controlled and operated by the fiscal agent as of the most recent quarter;
(4)
the amount of money the Fund received from the property tax assessment in the last fiscal year;
(5)
the results of the most recent financial audit conducted by an independent third party;
(6)
the end of fiscal year statement of financial position and an analysis of the end of year budget, as compared with the report, including the amount of money spent on facilitation and execution of community participatory processes for grant making; and
(7)
an updated plan and progress report on the disbursement of the multi-year balance of the Fund.
(b)Fund allocations; Limitations.
(1)Limitations on use.
(i)
For the purposes of this paragraph, “public engagement” may include:
(A)
staffing needs for community outreach;
(B)
space, supplies, and personnel for community information sessions; or
(C)
materials for education, marketing, and promotion of fund-related efforts; or
(D)
facilitation and execution of community participatory processes for grant making.
(ii)
In its financial plan, the Board may allocate from the Fund’s balance:
(A)
up to 5% for public engagement specifying how much of this allocation is budgeted to be used for facilitation and execution of community participation in the grant making process;
(B)
up to 15% for staff and other costs to administer the Fund; and
(C)
up to 20% for technical assistance to grantees regarding administering grant funds and complying with grant requirements.
(2)Remainder to be disbursed.
(i)
The Board shall allocate the remainder of the Fund’s balance among the programs and services identified under <cite data-path="|5|§9-4|(d)">§ 9-4(d) of this subtitle</cite>, with an emphasis on programs or services operating in, or meant to assist young people from, the communities in Baltimore City most impacted by high poverty.
(ii)
The remainder of the Fund’s balance shall be allocated according to the processes established in <cite data-path="|5|§9-4">§ 9-4 of this subtitle</cite> and in accordance with paragraph (3) of this subsection.
(3)Grant amounts - Limitations.
(i)
The size of a grant may not exceed 25% of the total amount of money disbursed by the Fund as grants in any fiscal year.
(ii)
The Board may not award a grant to any organization that has not followed the policies and procedures established under <cite data-path="|5|§9-4|(d)">§ 9-4(d) of this subtitle</cite>.
(c)Public hearing and comment on financial plan.
Before adopting any financial plan required by this section, the Board shall arrange for a public hearing on the proposed plan. Notice of the hearing must be published on the fiscal agent’s website for at least 3 consecutive weeks.
(d)Board of Estimates filing required.
Within 10 days of adopting a financial plan, the Board shall file the plan with the Board of Estimates.
History: Ord. 20-363
History: