The Commission strives to manage its funds in a way that demonstrates responsibility to taxpayers, member jurisdictions, grantees and others who contribute to or pay fees to the organization. Appropriate management of funds starts with planning – which occurs through the formation of our budget.
Article 14, Section 14.3 of the compact requires the Commission to adopt a current expense budget annually for each fiscal year. The Commission operates on a fiscal year that runs from July 1 to June 30, which drives our budget cycle.
On or before July 15 in each year (usually at the June Commission meeting), the Commission adopts an expense budget for the next fiscal year pursuant to Article 14, Section 14.3 of the Compact. The budget also includes estimates of revenue, including the allocation of funds needed from each signatory party to balance the budget. Following Commission adoption of the proposed expense budget, staff transmit the allocation requests to the budget officers of each of the signatory parties so that they may consider it for their next executive budget proposal.
On or before July 1 of the following year (usually at the March Commission meeting), the Commission reviews for adoption a reconciliation of the previously adopted expense budget. The budget reconciliation includes:
- Updated revenue estimates, including amounts adopted by member jurisdictions under their budgetary procedures, for the upcoming fiscal year.
- Updated expense estimates or other changes having occurred since the adoption of the proposed expense budget.
- A reconciliation of any resulting funding gaps in the adopted budget having emerged since the adoption of the budget.
The reconciled budget approved by the Commission must have balanced revenues and expenses. A balanced budget may be achieved through transfers from reserve funds, if available. If such transfers are required, they are approved as part of the approval of the budget reconciliation.
- Fiscal Year 2021 Budget Reconciliation
- Fiscal Year 2020 Budget Reconciliation
- Fiscal Year 2019 Budget Reconciliation
- Fiscal Year 2018 Budget Reconciliation
- Fiscal Year 2017 Budget Reconciliation
Annual Financial Audits
Article 15, Section 15.11 of the Compact requires the Commission to select qualified certified public accountants to audit the Commission’s financial accounts on an annual basis. The audit report is presented to our Commissioners and made available to the public.
The Commission’s most recent audit report is for its fiscal year which ended June 30, 2019. The full report for fiscal year 2019 and reports from previous years can be found here.
- Financial Statements for the Year Ended June 30, 2019 and Independent Auditor's Report
- Financial Statements for the Year Ended June 30, 2018 and Independent Auditor's Report
- Financial Statements for the Year Ended June 30, 2017 and Independent Auditor's Report
- Financial Statements for the Year Ended June 30, 2016 and Independent Auditor's Report
- Financial Statements for the Year Ended June 30, 2015 and Independent Auditor's Report
The following is a summary of the Commission’s financial results for fiscal year 2019:
This financial report is designed to provide a general overview of the Susquehanna River Basin Commission’s finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Commission at 4423 North Front Street, Harrisburg, PA 17110. Questions can also be sent to the Commission’s Director of Administration & Finance at email@example.com.