Budget Year / Version:

Program Description

  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 improvement program and manage cash flow; provide accurate revenue and economic forecasting and publishing reports on economic and revenue analysis on a quarterly basis for dissemination to the County Council, County Executive, and the public. One of the program's primary goals is to maintain the County's AAA General Obligation Bond debt rating and to actively invest the County's working capital to minimize risk while generating maximum investment income.

Program objectives related to debt and cash management include managing the timely and economic issuance of short and long-term financial obligations; developing and maintaining strong rating agency and investors relations; preparing accurate and timely financing documents, including the County's Annual Information Statement; ensuring strict compliance with disclosure requirements; coordinating bond counsel review; providing high-quality consulting services for County agencies, managers, staff, elected officials, and residents on issues related to debt and cash management; investing the County's working capital and managing the County's relationship with the banking and investment community.

Program objectives related to policy and fiscal projects include the proactive development of intergovernmental policy alternatives and recommendations, including necessary local and State legislation and regulations; fiscal impact analysis for local and State legislation; fiscal impact analysis and effective management associated with the financing and implementation aspects of Master and Sector Plans; implementing and managing new County initiatives such as the Public Election Fund and Commercial Property Assessed Clean Energy (C-PACE) programs; managing the administration of economic development initiatives that support growth and/or expansion of economic opportunities in the County; and high quality financial consulting services for County agencies, managers, staff, elected officials, and residents.

Program Contacts

Contact Jedediah Millard of the Department of Finance at 240.777.8855 or Derrick Harrigan of the Office of Management and Budget at 240.777.8759 for more information regarding this department's operating budget.


Program Performance Measures

Program Performance MeasuresActual FY20Actual FY21Estimated FY22Target FY23Target FY24
Make Office Vacancies Extinct (MOVE) Program: Square feet of office space leased81,76355,44666,53573,18976,848
Interest Rate Benchmarking - County General Obligation (GO) vs. Municipal Market Data Index (basis point spread)
Investment Return Benchmarking - County Return vs. S&P Local Government Investment Pool Index (basis point spread)3411221
Revenue Forecasting - Percent variance between actual revenue and projected revenue-0.43%2.41%0.00%0.00%0.00%
Interest Rate - True Interest Cost for Montgomery County General Obligation Bonds (the most common debt instrument used by the County)2.21%1.42%1.48%4.00%4.00%
Investment Return - Rate of return on Montgomery County's investments1.76%.18%.05%.10%.25%
Bond Rating - Rating given to Montgomery County by Fitch, Moody's, and Standard and Poor's (Bond ratings are a measure of the quality and safety of a bond and are based on the issuer's financial condition)AAAAAAAAAAAAAAA

Program Budget Changes

FY23 Approved ChangesExpendituresFTEs
FY22 Approved196954610.75
Shift: CIP FTE to the General Fund403690.25
Multi-program adjustments, including negotiated compensation changes, employee benefit changes, changes due to staff turnover, reorganizations, and other budget changes affecting multiple programs.992790.00
FY23 Approved210919411.00