Mission Statement

The mission of the Department of Finance is to prudently manage financial operations, recommend and implement sound fiscal policies, safeguard public assets, and encourage a safe environment on public property.

Budget Overview

The total approved FY27 Operating Budget for the Department of Finance is $139,368,153, an increase of $1,385,145 or 1.00 percent from the FY26 Approved Budget of $137,983,008. Personnel Costs comprise 17.40 percent of the budget for 140 full-time position(s) and no part-time position(s), and a total of 132.74 FTEs. Total FTEs may include seasonal or temporary positions and may also reflect workforce charged to or from other departments or funds. Operating Expenses account for the remaining 82.60 percent of the FY27 budget.

The Finance operating budget is comprised of a General Fund component (the Director's Office and the Divisions of Fiscal Management, Treasury, Information Technology, and Controller) and the Division of Risk Management, which is funded by the Liability and Property Coverage Self-Insurance Fund. The total FY27 Operating Budget for the General Fund component is $21,789,716 an increase of $1,005,549 or 4.8 percent over the FY26 Approved Budget of $20,784,167. Personnel Costs comprise approximately 82 percent of the General Fund budget for 129 full-time positions. A total of 99.37 FTEs includes these positions as well as any seasonal or temporary positions and positions charged to or from other departments or funds. Operating Expenses account for the remaining 18 percent of the budget.

The total FY27 Operating Budget for the Self-Insurance Fund component of Finance (Risk Management) is $117,578,437, an increase of $379,596 or .04 percent over the FY26 Approved Budget of $117,198,841. Personnel Costs comprise approximately 5 percent of the Self-Insurance Fund budget for 11 full-time positions. A total of 33.37 FTEs includes these positions as well as any seasonal or temporary positions and positions charged to or from other departments or funds. Operating Expenses account for the remaining 95 percent of the budget.

County Priority Outcomes

While this program area supports all eight of the County Result Areas, the following are emphasized:

• A Growing Economy
• Effective, Sustainable Government

Program Performance Measures

Performance measures for this department are included below (where applicable), with multi-program measures displayed at the front of this section and program-specific measures shown with the relevant program. The FY26 estimates reflect funding based on the FY26 approved budget. The FY27 and FY28 figures are performance targets based on the FY27 approved budget and funding for comparable service levels in FY28.

Initiatives

• Transition point of sales and online payment systems from the current vendor to JPMorgan Chase Merchant Services and Digital Bill Pay.
• Upgrade the property tax billing system to the vendor's new software as a service.
• Launch an improved driver's license program to ensure compliance with County policies.

Innovations and Productivity Improvements

• Reorganized Retirement Member Services and Retirement Finance operations into FIN as the new Retirement Administration Division (RAD) to promote efficiency.
• Upgraded the County's enterprise timekeeping and scheduling systems to the vendor's newer software as a service platform prior to the end-of-life of the prior products.

Program Descriptions

  Operations and Administration

This program includes operational support for the department as well as the administrative portions of the Director's Office, the Division of the Controller, the Treasury Division, and the Division of Risk Management. The program provides support for efficient, effective, and timely accomplishment of the department's mission, including budget development and...

  Fiscal Management

This program provides effective management of County capital and operating funds; and the fiscal analysis and issue management associated with master plan development, economic development, and legislative issues. It is also responsible for issuing and managing the County's financial obligations to fund the Capital Improvements Program and manage cash flow;...

  Information Technology

This program provides planning, direction, and support for finance and core business systems, technology, and business processes to support the effective and efficient achievement of the department's mission. Activities are proactively coordinated with the Department of Technology and Enterprise Business Solutions, other County departments, vendors, and department staff to ensure...

  Controller

This program provides effective management and support to the operations of Accounts Payable and Receivable; General and Grant Accounting; Financial Analysis, Audit and Compliance; and Timekeeping and Payroll. This program, through its operations, is responsible for overseeing expenditures and cash flow management; preparing timely and accurate annual financial statements and...

  Treasury

This program is responsible for providing coordination and oversight of treasury operations and customer services through the cashiering function. All money received by the County directly through the Treasury cashiering operation, from other County agencies, or through the internet and bank lockbox operation is processed, administered, and recorded in...

  Risk Management

The Montgomery County Self-Insurance Program, established under County Code Section 20-37, provides comprehensive property and casualty insurance for the County and participating agencies. The program pays all claims for Self Insured Workers' Compensation, General and Auto Liability, Auto Physical Damage, and Property matters. The program is funded through contributions from...