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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.

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Budget Overview

The total approved FY24 Operating Budget for the Department of Finance is $112,142,753, an increase of $8,605,237 or 8.31 percent from the FY23 Approved Budget of $103,537,516. Personnel Costs comprise 17.26 percent of the budget for 126 full-time position(s) and no part-time position(s), and a total of 132.29 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 82.74 percent of the FY24 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 FY24 Operating Budget for the General Fund component is $16,825,918, an increase of $722,341 or 4.5 percent over the FY23 approved budget of $16,103,577. Personnel Costs comprise approximately 84 percent of the General Fund budget for 115 full-time positions. A total of 99.92 FTEs include 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 16 percent of the budget.

The total FY24 Operating Budget for the Self-Insurance Fund component of Finance (Risk Management) is $95,316,835, an increase of $7,872,896, or 9.0 percent over the FY23 approved budget of $87,433,939. Personnel Costs comprise approximately 5.4 percent of the Self-Insurance Fund budget for 11 full-time positions. A total of 32.37 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 94.6 percent of the budget. Included in the total FTEs are 21 FTEs charged to the Self-Insurance Fund by the Office of the County Attorney and 0.37 FTEs charged by the General Fund component of Finance (Controller Division) for services provided in support of Risk Management.

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

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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 FY23 estimates reflect funding based on the FY23 approved budget. The FY24 and FY25 figures are performance targets based on the FY24 approved budget and funding for comparable service levels in FY25.

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Initiatives

  • Solicit a Request for Proposals and select a vendor for Banking and Merchant Card services.

  • Upgrade of the County's enterprise timekeeping system and migration of this platform to the vendor's Software as a Service cloud environment.

  • Upgrade of the Payment in Lieu of Taxes (PILOT) system that is utilized for property tax billing for certain accounts.

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Innovations and Productivity Improvements

  • Updated the Robotic Process Automation platform for greater integration capability with the County's existing information technology investments.

  • Revised eligibility requirements for the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Grant Programs. The programs now include financial incentives to assist Research and Development (R&D)-oriented small businesses that are preparing to apply for their first SBIR or STTR Phase I award.

  • Authorized and distributed 131 matching fund contributions in the amount of $3,693,456 to 20 certified candidates during the 2022 Election Cycle by the Public Election Fund.

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...

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  Fiscal Management

This program provides effective management of County capital and operating fund; 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 improvement program and manage cash flow;...

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  Information Technology

This program provides planning, direction, and support for finance and core business systems, technology, and business processes to support 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 consistency...

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  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...

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  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 a timely...

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  Risk Management

The Montgomery County Self-Insurance Program, established under County Code 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 the...

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Budget Trends
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Program Contacts

Contact Jedediah Millard of the Department of Finance at 240.777.8855 or Abdul Rauf of the Office of Management and Budget at 240.777.2766 for more information regarding this department's operating budget.

Related Links
Budget Summary
TitleActual
FY22
Budget
FY23
Estimate
FY23
Approved
FY24
%Chg
Bud/App
COUNTY GENERAL FUND
EXPENDITURES
Salaries and Wages9088636.0010615199.00 9412860.00 11165473.005.2
Employee Benefits2941185.002798829.00 2980334.00 2967364.006.0
County General Fund Personnel Costs12029821.0013414028.00 12393194.00 14132837.005.4
Operating Expenses2557365.002689549.00 3179543.00 2693081.000.1
County General Fund Expenditures14587186.0016103577.00 15572737.00 16825918.004.5
PERSONNEL
Full-Time115.00115.00 115.00 115.000.0
Part-Time0.000.00 0.00 0.000.0
FTEs99.6799.92 99.92 99.920.0
REVENUES
Other Charges/Fees517471.00535500.00 517200.00 523900.00-2.2
Other Fines/Forfeitures6217.000.00 0.00 0.000.0
Other Intergovernmental510751.00515820.00 513820.00 476460.00-7.6
Miscellaneous Revenues741803.00500000.00 500000.00 500000.000.0
County General Fund Revenues1776242.001551320.00 1531020.00 1500360.00-3.3
 
SELF INSURANCE INTERNAL SERVICE FUND
EXPENDITURES
Salaries and Wages3672127.003842799.00 3593633.00 4182423.008.8
Employee Benefits945807.00965097.00 889646.00 1038875.007.6
Self Insurance Internal Service Fund Personnel Costs4617934.004807896.00 4483279.00 5221298.008.6
Operating Expenses74720975.0082626043.00 82626043.00 90095537.009.0
Self Insurance Internal Service Fund Expenditures79338909.0087433939.00 87109322.00 95316835.009.0
PERSONNEL
Full-Time11.0011.00 11.00 11.000.0
Part-Time0.000.00 0.00 0.000.0
FTEs32.3732.37 32.37 32.370.0
REVENUES
Self Insurance Revenues78162278.0089979623.00 89979623.00 92796252.003.1
Miscellaneous Revenues771491.001000000.00 1000000.00 1000000.000.0
Investment Income379294.001767200.00 7000000.00 8100000.00358.4
Self Insurance Internal Service Fund Revenues79313063.0092746823.00 97979623.00 101896252.009.9
 
GRANT FUND - MCG
EXPENDITURES
Salaries and Wages0.000.00 0.00 0.000.0
Employee Benefits0.000.00 0.00 0.000.0
Grant Fund - MCG Personnel Costs0.000.00 0.00 0.000.0
Operating Expenses1245594.000.00 0.00 0.000.0
Grant Fund - MCG Expenditures1245594.000.00 0.00 0.000.0
PERSONNEL
Full-Time0.000.00 0.00 0.000.0
Part-Time0.000.00 0.00 0.000.0
FTEs0.000.00 0.00 0.000.0
REVENUES
Federal Grants1192761.000.00 0.00 0.000.0
Grant Fund - MCG Revenues1192761.000.00 0.00 0.000.0
 
CAPITAL FUND
EXPENDITURES
PERSONNEL
 
DEPARTMENT TOTALS
Total Expenditures95171689.00103537516.00 102682059.00 112142753.008.3
Total Full-Time Positions126.00126.00 126.00 126.000.0
Total Part-Time Positions0.000.00 0.00 0.000.0
Total FTEs132.04132.29 132.29 132.290.0
Total Revenues82282066.0094298143.00 99510643.00 103396612.009.6
FY24 Approved Changes
TitleExpendituresFTEs
COUNTY GENERAL FUND
FY23 ORIGINAL APPROPRIATION1610357799.92
Other Adjustments (with no service impacts)
Increase Cost: Annualization of FY23 Compensation Increases5975670.00
Increase Cost: FY24 Compensation Adjustment5149570.00
Increase Cost: Kronos Annual Maintenance and License Contractual Obligation [Controller]82900.00
Increase Cost: Annualization of FY23 Personnel Costs81730.00
Increase Cost: Annual PCI and ACH Industry Compliance [Information Technology]66300.00
Increase Cost: Printing and Mail35320.00
Decrease Cost: Retirement Adjustment-212020.00
Decrease Cost: IT Financial Systems Applications - Ongoing Software Maintenance [Information Technology]-1516800.00
Decrease Cost: One-time Budget Adjustment to Reflect Higher than Expected Vacant Positions-2439260.00
FY24 APPROVED1682591899.92
 
SELF INSURANCE INTERNAL SERVICE FUND
FY23 ORIGINAL APPROPRIATION8743393932.37
Other Adjustments (with no service impacts)
Increase Cost: Claims Expense Change [Risk Management ]52799960.00
Increase Cost: Commercial Insurance Premiums [Risk Management ]17463320.00
Increase Cost: Claims Service Contract Administrative costs [Risk Management ]5016950.00
Increase Cost: Annualization of FY23 Compensation Increases1887280.00
Increase Cost: FY24 Compensation Adjustment1738590.00
Increase Cost: Annualization of FY23 Personnel Costs589330.00
Increase Cost: Rent increase [Risk Management ]39560.00
Increase Cost: Motor Pool Adjustment24190.00
Increase Cost: Printing and Mail2070.00
Decrease Cost: Retirement Adjustment-81180.00
Decrease Cost: Other Insurance Costs [Risk Management ]-651110.00
FY24 APPROVED9531683532.37
Program Summary
Program NameFY23 APPR
Expenditures
FY23 APPR
FTEs
FY24 APPR
Expenditures
FY24 APPR
FTEs
Controller640546851.87672131750.87
Fiscal Management210919411.00220055811.00
Information Technology16940284.0017459883.98
Operations and Administration413585414.37418341615.37
Risk Management 8656496228.009441675328.00
Treasury262801023.05287472123.07
Total103537516132.29112142753132.29
Charges to Other Departments
Charged DepartmentCharged FundFY23
Total$
FY23
FTES
FY24
Total$
FY24
FTES
COUNTY GENERAL FUND
CIPCapital Fund00.0000.00
Community Use of Public FacilitiesCommunity Use of Public Facilities513600.37544500.37
Environmental ProtectionWater Quality Protection9615056.009011086.00
General ServicesCentral Duplicating (Printing & Mail)69600.0573800.05
Alcohol Beverage ServicesLiquor768200.50809800.50
Permitting ServicesPermitting Services135600.10143900.10
Economic Development FundEconomic Development Fund1675961.001832621.00
Non-Departmental AccountsRetirement Fund (ERS)427160.30448220.30
Non-Departmental AccountsRSP-Disability Benefits (LTD2)15300.0115600.01
Human ResourcesEmployee Health Self Insurance1038600.751101100.75
Human ResourcesRetiree Health Benefits Trust Fund433340.30441180.30
Parking District ServicesBethesda Parking334500.24354400.24
Parking District ServicesSilver Spring Parking378700.27401300.27
Parking District ServicesWheaton Parking127500.09135000.09
RecreationRecreation452100.33479700.33
Recycling and Resource ManagementSolid Waste Disposal6189504.385974404.38
Recycling and Resource ManagementSolid Waste Collection2848000.642321100.64
TransportationLeaf Vacuuming2578100.432465600.43
Total276008115.76265533015.76
Funding Parameter Items ($000s)
TitleFY24FY25FY26FY27FY28FY29
COUNTY GENERAL FUND
EXPENDITURES
FY24 Approved16826.00000016826.00000016826.00000016826.00000016826.00000016826.000000
No inflation or compensation change is included in outyear projections.
Restore One-Time Lapse Increase0.000000244.000000244.000000244.000000244.000000244.000000
Restoration of one-time lapse adjustment
Labor Contracts0.000000305.000000305.000000305.000000305.000000305.000000
These figures represent the estimated annualized cost of general wage adjustments, service increments, and other negotiated items.
Subtotal Expenditures16826.00000017375.00000017375.00000017375.00000017375.00000017375.000000
 
SELF INSURANCE INTERNAL SERVICE FUND
EXPENDITURES
FY24 Approved95317.00000095317.00000095317.00000095317.00000095317.00000095317.000000
No inflation or compensation change is included in outyear projections.
Labor Contracts0.000000122.000000122.000000122.000000122.000000122.000000
These figures represent the estimated annualized cost of general wage adjustments, service increments, and other negotiated items.
Subtotal Expenditures95317.00000095439.00000095439.00000095439.00000095439.00000095439.000000